# EDGAR Filing Document

**Accession Number:** 0000719733
**File Stem:** 0000719733-23-000002
**Filing Date:** 2023-1
**Character Count:** 11401
**Document Hash:** 6ca24f406d4025640a03ed5b3aaca976
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000719733-23-000002.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0000719733-23-000002

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230123

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KEY TRONIC CORP
- **CENTRAL INDEX KEY:** 0000719733
- **STANDARD INDUSTRIAL CLASSIFICATION:** PRINTED CIRCUIT BOARDS [3672]
- **IRS NUMBER:** 910849125
- **STATE OF INCORPORATION:** WA
- **FISCAL YEAR END:** 0629

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-11559
- **FILM NUMBER:** 23542965

**BUSINESS ADDRESS:**
- **STREET 1:** 4424 N. SULLIVAN ROAD
- **CITY:** SPOKANE
- **STATE:** WA
- **ZIP:** 99216
- **BUSINESS PHONE:** 5099288000

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 14687
- **CITY:** SPOKANE
- **STATE:** WA
- **ZIP:** 99214

?xml version="1.0" ? ktcc-20230123

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported) January 23, 2023** 

**Key Tronic Corporation**

**(Exact name of registrant as specified in its charter)**

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| | | | |
|:---|:---|:---|:---|
| **Washington** | | **0-11559** | **91-0849125** |
| (State or other jurisdiction<br>of incorporation) | | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |
| **4424 North Sullivan Road** | **Spokane Valley,** | **Washington** | **99216** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |

---

**Registrant's telephone number, including area code (509) 928-8000** 

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provision (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading Symbol</u>** | **<u>Name of each exchange on which registered</u>** |
| Common Stock, no par value | KTCC | NASDAQ Global Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

---

| | |
|:---|:---|
| Emerging growth company | ☐ |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ◻ |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ◻ |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ◻ |

---

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**ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION**

On January 23, 2023, Key Tronic Corporation issued a preliminary press release announcing its preliminary financial results for the quarter ended December 31, 2022. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information in this Form 8-K including the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section and shall not be deemed incorporated by reference into any filing of Key Tronic Corporation under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as set forth by specific reference in such a filing.

**ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS**

&nbsp;&nbsp;&nbsp;&nbsp;(d)Exhibits

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| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 99.1 | <u>[Press Release Dated January 23, 2023](q2fy23preliminaryrelease-d.htm)</u> |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document |

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**SAFE HARBOR STATEMENT.** Statements contained in the Exhibit to this report that state Key Tronic Corporation's or its management's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. Key Tronic Corporation's actual results could differ materially from those projected in such forward-looking statements. Factors that could affect those results include those mentioned in the Exhibit to this report and the documents that Key Tronic Corporation has filed with the Securities and Exchange Commission.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | <u>KEY TRONIC CORPORATION</u><br>(Registrant) | <u>KEY TRONIC CORPORATION</u><br>(Registrant) |
| Date: January 23, 2023 |  |  |
|  | By: | *<u>/s/ Brett R. Larsen</u>* |
|  |  | Brett R. Larsen, Executive Vice President<br>of Administration, CFO and Treasurer |

---

## Ex-1

**Exhibit 99.1**

**FOR IMMEDIATE RELEASE**

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| | | |
|:---|:---|:---|
| **CONTACTS:** | Brett Larsen | Michael Newman |
|  | Chief Financial Officer | Investor Relations |
|  | Key Tronic Corporation | StreetConnect |
|  | (509) 927-5500 | (206) 729-3625 |

---

**KEYTRONIC CORPORATION ANNOUNCES PRELIMINARY RESULTS**

**FOR THE SECOND QUARTER OF FISCAL YEAR 2023**

**Spokane Valley, WA— January 23, 2023 — Key Tronic Corporation** (Nasdaq: KTCC), a provider of electronic manufacturing services (EMS), today announced its preliminary results for the three months ended December 31, 2022.

For the second quarter of fiscal 2023, Key Tronic expects to report revenue of approximately $123.5 million and earnings of approximately $0.04 to $0.07 per share, which includes $2.7 million in insurance gains on equipment storm damage in its Arkansas facility and related operational losses until replacement equipment could be placed.

The lower than expected revenue reflects a six-week delay in starting production for the previously announced program with a leading power equipment company. This delay lowered revenue by approximately $20 million for the second quarter of fiscal 2023, but production for this program is currently underway and increasing in the third quarter.

At the same time, demand from many of our new and existing customers continued to increase, resulting in a backlog increasing to record levels. We are also seeing improvement in the global supply issues for certain components that have severely limited our production in recent periods.

For the third quarter of fiscal 2023, Key Tronic expects to report revenue in the range of $160 million to $170 million and earnings in the range of $0.15 to $0.25 per diluted share.

The revenue and earnings estimates for the second and third quarters of fiscal 2023, and the finalization of financial results for the second quarter of 2023, are subject to completion of the Company's quarterly close and review procedures which are still ongoing. The Company plans to report its complete results and host its earnings conference call for the second quarter of fiscal 2023 on January 31, 2023. Details for the conference call will be announced in a separate press release.

**About Keytronic**

Keytronic is a leading contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico, China and Vietnam. The Company provides its customers full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, and worldwide distribution. Its customers include some of the world's leading original equipment manufacturers. For more information about Keytronic visit: www.keytronic.com.

**Forward-Looking Statements**

Some of the statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to those including such words as aims, anticipates, believes, continues, estimates, expects, hopes, intends, plans, predicts, projects, targets, or will, similar verbs, or nouns corresponding to such verbs, which may be forward looking. Forward-looking statements also include other passages that are relevant to expected future events, performances, and actions or that can only be fully evaluated by events that will occur in the future. Forward-looking statements in this release include, without limitation, the Company's statements regarding its expectations with respect to financial conditions and results, including revenue and earnings during periods of fiscal year 2023, risks of manufacturing supply chain and operational disruptions, demand for certain products and the effectiveness of some of our programs, business from new customers and programs, improvement of supply chain delivery and impacts from

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operational streamlining. There are many factors, risks and uncertainties that could cause actual results to differ materially from those predicted or projected in forward-looking statements, including but not limited to: the future of the global economic environment and its impact on our customers and suppliers; the availability of components from the supply chain; the availability of a healthy workforce; the accuracy of suppliers' and customers' forecasts; development and success of customers' programs and products; timing and effectiveness of ramping of new programs; success of new-product introductions; the risk of legal proceedings or governmental investigations relating to the subject of the internal investigation by the Company's Audit Committee and related or other unrelated matters; acquisitions or divestitures of operations or facilities; technology advances; changes in pricing policies by the Company, its competitors, customers or suppliers; impact of new governmental legislation and regulation, including tax reform, tariffs and related activities, such trade negotiations and other risks; and other factors, risks, and uncertainties detailed from time to time in the Company's SEC filings