KEY TRONIC CORP
For the period ended Dec 30, 2023. Filed Feb 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 30, 2023 · Filed Feb 8, 2024
KTCC$1.29-3.7%Stored close · as of Nov 10, 2026
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Item 1. Condensed Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands; except share data)
| December 30, 2023 | July 1, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $2,953 | $3,603 |
| Trade receivables, net of allowance for doubtful accounts of $72 and $23 | 134,892 | 150,600 |
| Contract assets | 27,770 | 29,925 |
| Inventories | 124,054 | 137,911 |
| Other | 22,612 | 27,510 |
| Total current assets | 312,281 | 349,549 |
| Property, plant and equipment, net | 28,935 | 28,870 |
| Operating lease right-of-use assets, net | 18,104 | 16,202 |
| Other assets: | ||
| Deferred income tax asset | 13,161 | 12,254 |
| Other | 6,243 | 11,397 |
| Total other assets | 19,404 | 23,651 |
| Total assets | $378,724 | $418,272 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $91,358 | $115,899 |
| Accrued compensation and vacation | 5,677 | 13,351 |
| Current portion of debt, net | 5,610 | 7,849 |
| Other | 15,721 | 14,867 |
| Total current liabilities | 118,366 | 151,966 |
| Long-term liabilities: | ||
| Term loans | 6,465 | 6,726 |
| Revolving loan | 108,429 | 114,805 |
| Operating lease liabilities | 12,380 | 10,317 |
| Deferred income tax liability | 22 | 274 |
| Other long-term obligations | 627 | 3,567 |
| Total long-term liabilities | 127,923 | 135,689 |
| Total liabilities | 246,289 | 287,655 |
| Commitments and contingencies (Note 8) | ||
| Shareholders’ equity: | ||
| Common stock, no par value—shares authorized 25,000; issued and outstanding 10,762 and 10,762 shares, respectively | 47,839 | 47,728 |
| Retained earnings | 84,405 | 82,986 |
| Accumulated other comprehensive Income (loss) | 191 | (97) |
| Total shareholders’ equity | 132,435 | 130,617 |
| Total liabilities and shareholders’ equity | $378,724 | $418,272 |
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