Filing Analysis
Key Tronic Corporation filed an 8-K to announce its quarterly financial results for the period ending June 27, 2026. The filing serves as a formal notice that a press release containing the results has been issued.
📋 Key Facts
- Financial results for the quarter ended June 27, 2026, were announced on August 27, 2026.
- The company issued a press release (Exhibit 99.1) containing the detailed financial performance data.
- The filing includes a standard safe harbor statement regarding forward-looking statements.
Key Tronic Corporation announced the establishment of performance goals for its fiscal year 2027 Incentive Compensation Plan (ICP) and the granting of Restricted Stock Unit (RSU) awards to key executives and directors. The filing also outlines long-term incentive plan measures for the 2027-2029 period based on sales growth and return on invested capital.
🚩 Red Flags
- Incentive compensation is heavily tied to profit and EBITDA thresholds, which may incentivize aggressive accounting if not monitored.
📋 Key Facts
- Established FY2027 ICP performance goals: entry level, expected value, and overachievement levels.
- ICP payments require a minimum Company profit goal to be achieved.
- CEO Brett R. Larsen granted 67,023 RSUs with a mix of time-based (40%) and EBITDA-based (60%) vesting over three years.
- CFO Anthony G. Voorhees granted 36,192 RSUs with 50% time-based and 50% EBITDA-based vesting.
- EVP Philip S. Hochberg granted 33,512 RSUs with 50% time-based and 50% EBITDA-based vesting.
- Non-employee directors granted 10,724 RSUs vesting on the first anniversary.
- 2027-2029 Long-Term Incentive Plan (LTIP) metrics include sales growth vs. industry and return on invested capital (ROIC).
- LTIP cash targets for 2029: Larsen ($400,000), Voorhees ($190,000), Hochberg ($150,000).
Key Tronic Corp. announced its financial results for the fiscal quarter ended March 28, 2026. The disclosure was made via a press release under Item 2.02, providing a standard update on the company's operations and financial condition.
📋 Key Facts
- The filing was made on May 5, 2026, reporting results for the quarter ended March 28, 2026.
- The report was filed under Item 2.02 (Results of Operations and Financial Condition) and Item 9.01 (Financial Statements and Exhibits).
- The press release (Exhibit 99.1) is incorporated by reference but not deemed 'filed' for Section 18 liability purposes.
- The report was signed by Anthony G. Voorhees, Executive Vice President of Administration, CFO, and Treasurer.
Key Tronic Corporation filed an 8-K to announce its financial results for the fiscal quarter ended December 27, 2025. The filing serves as a formal notice that a press release containing these results was issued on February 3, 2026.
📋 Key Facts
- Financial results announced for the quarter ended December 27, 2025.
- Press release attached as Exhibit 99.1.
- Report filed on February 3, 2026.
Key Tronic Corp is exiting its manufacturing operations in China to refocus on sourcing/procurement and shift production to Vietnam and other facilities. The company expects significant one-time non-cash charges between $4.8M and $5.8M for asset write-offs and inventory disposal.
🚩 Red Flags
- Significant non-cash write-offs ($4.8M - $5.8M) which may impact net income and balance sheet strength.
- Multiple concurrent restructuring plans (China exit + Mexico restructuring) indicating significant organizational upheaval.
- Potential for charge estimates to increase, as noted in the forward-looking statements disclaimer.
📋 Key Facts
- Exiting manufacturing operations in China; transitioning role to sourcing/procurement support.
- Estimated non-cash expenses (inventory, fixed assets, deferred taxes) of $4.8 million to $5.8 million.
- Expected severance and compensation costs of approximately $1.3 million ($1.1M severance + $0.2M accrued comp).
- Anticipated quarterly savings of ~$1.2 million following completion (expected by Q4 FY2026).
- Additional restructuring in Mexico expected to incur $2.5M-$3.5M in charges in Q2, yielding $2.1M in quarterly savings.
Key Tronic Corp announced its quarterly financial results for the period ending September 27, 2025. The filing serves as a formal notice that a press release containing these results has been issued.
📋 Key Facts
- Financial results were released on November 4, 2025.
- The reported period is the quarter ended September 27, 2025.
- The filing includes an exhibit (99.1) containing the full press release.
Key Tronic Corp held its Annual Meeting of Shareholders on October 23, 2025. The meeting resulted in the election of seven directors and the ratification of Baker Tilly US LLP as the independent auditor for fiscal year 2026.
📋 Key Facts
- Annual Meeting of Shareholders held on October 23, 2025.
- Seven directors were elected: James R. Bean, Cheryl Beranek, Craig D. Gates, Ronald F. Klawitter, Subodh K. Kulkarni, Brett R. Larsen, and Yacov A. Shamash.
- Shareholders approved the compensation of named executive officers (Say-on-Pay).
- Shareholders ratified the appointment of Baker Tilly US LLP as independent registered public accounting firm for fiscal year 2026.
Key Tronic Corp announced its financial results for the fiscal quarter ended June 28, 2025. The filing serves as a formal notice of the earnings release via press release.
📋 Key Facts
- Report date: August 27, 2025
- Reporting period: Quarter ended June 28, 2025
- The company issued a press release (Exhibit 99.1) containing the financial results.
Key Tronic Corp announced the establishment of performance goals for its 2026 Incentive Compensation Plan (ICP) and granted various Restricted Stock Unit (RSU) awards to executive officers and directors. The filing also outlines long-term incentive plan measures for the fiscal years 2026 through 2028 based on sales growth and return on invested capital.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Established FY2026 ICP performance goals: entry level, expected value, and overachievement levels.
- ICP payments require a minimum Company profit goal to be achieved.
- CEO Brett R. Larsen granted 89,927 RSUs; EVP Anthony G. Voorhees and EVP Philip S. Hochberg each granted 44,964 RSUs.
- RSU awards for executives include both time-based and performance-based (EBITDA threshold) vesting components over three years.
- Long-term incentive plan (2026-2028) targets are based on sales growth vs. industry and return on invested capital (ROIC).
- Target cash payments for 2028 performance: Larsen ($400,000), Voorhees ($190,000), Hochberg ($190,000).
Key Tronic Corporation announced a change in its independent auditor following the merger of Moss Adams LLP with Baker Tilly US, LLP. The Audit Committee has appointed Baker Tilly as the successor auditor effective June 3, 2025.
🚩 Red Flags
- The filing notes that previous audit reports (FY 2023 and FY 2022) included an explanatory paragraph due to the restatement of consolidated financial statements.
- Auditor changes in micro-cap companies can sometimes signal underlying friction, though here it is explicitly attributed to a merger.
📋 Key Facts
- Moss Adams LLP merged with Baker Tilly US, LLP on June 3, 2025.
- Baker Tilly US, LLP is appointed as the successor independent registered public accounting firm.
- The company confirmed there were no disagreements with Moss Adams regarding accounting principles or auditing procedures.
- Previous audit reports for years ended July 1, 2023, and July 2, 2022, contained an explanatory paragraph regarding a restatement of consolidated financial statements.
Key Tronic Corporation filed an 8-K to announce its financial results for the fiscal quarter ended March 29, 2025. The filing serves as a formal announcement of the press release containing these earnings figures.
📋 Key Facts
- Financial results announced for the quarter ended March 29, 2025.
- The report was filed on May 6, 2025.
- Earnings information is contained in Exhibit 99.1.
Key Tronic Corporation filed an 8-K to announce its financial results for the fiscal quarter ended December 28, 2024. The filing serves as a formal notification that a press release containing these results has been issued.
📋 Key Facts
- Financial results announced for the quarter ending December 28, 2024.
- Filing date: February 4, 2025.
- The report includes Exhibit 99.1 containing the official press release.
Key Tronic Corp issued an 8-K to announce the release of preliminary financial results for the quarter ended December 28, 2024. The filing serves as a formal notice that a press release containing these results has been issued.
📋 Key Facts
- Preliminary financial results announced for the quarter ending December 28, 2024.
- The announcement was made via a press release dated January 24, 2025.
- Financial data is contained in Exhibit 99.1.
Key Tronic Corp entered into two new credit agreements: a $115 million senior secured revolving credit facility with BMO Bank and a $28 million term loan with Callodine Commercial Finance. These new facilities were used to pay off existing debt from Bank of America, N.A., effectively refinancing the company's debt structure.
🚩 Red Flags
- Refinancing existing debt often indicates a need for liquidity or a shift in lender requirements.
- The Term Loan includes an EBITDA covenant that increases over time (from $14.3M to $25.8M), which could become difficult to maintain as the company grows/scales.
📋 Key Facts
- Entered into a $115M senior secured revolving credit facility (maturing Dec 2029) with BMO Bank, N.A.
- Approximately $75 million was already outstanding under the new Credit Facility as of Dec 4, 2024.
- Entered into a $28 million term loan agreement with Callodine Commercial Finance, LLC.
- The Term Loan requires quarterly principal repayments of $0.75 million.
- Proceeds were used to pay off the prior credit facility and equipment term loan with Bank of America, N.A.
- Company expects to write off approximately $0.9 million in unamortized financing fees from the prior agreements.
Key Tronic Corporation announced that shareholders approved and ratified the adoption of the 2024 Incentive Plan during the Annual Meeting of Shareholders held on November 25, 2024.
📋 Key Facts
- Shareholders approved the Key Tronic Corporation 2024 Incentive Plan on November 25, 2024.
- The plan was previously approved by the Board of Directors subject to shareholder ratification.
- Details of the plan are contained in the proxy statement filed on October 28, 2024.
Key Tronic Corp announced amendments to its Bylaws regarding shareholder proposal notice requirements and reported the results of its Annual Meeting of Shareholders held on November 25, 2024.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Board approved amended and restated By-Laws effective November 25, 2024.
- New advance notice provisions require shareholder proposals/nominees to be submitted between July 28, 2025, and August 27, 2025, for the 2025 Annual Meeting.
- All seven director nominees were elected during the annual meeting.
- Shareholders ratified the appointment of Moss Adams LLP as independent registered public accounting firm for fiscal year 2025.
- The 2024 Incentive Plan was approved by shareholders.
Key Tronic Corporation filed an 8-K to announce its financial results for the quarter ended September 28, 2024. The filing serves as a formal notice that a press release containing these results was issued on November 5, 2024.
📋 Key Facts
- Report date: November 5, 2024
- Reporting period: Quarter ended September 28, 2024
- The filing includes a press release as Exhibit 99.1 containing the financial results.
Key Tronic Corp (KTCC) has filed an 8-K/A to restate consolidated financial statements for multiple periods, including fiscal years ended July 1, 2023, and July 2, 2022, as well as various quarterly periods. The filing specifically corrects significant errors in the quarter ended June 29, 2024, which swung reported net income from a $37k profit to a $1.986M loss.
🚩 Red Flags
- Significant restatement covering multiple years (2021–2024) indicating long-standing accounting issues.
- Material error in insurance proceeds reporting ($715k adjustment).
- Swing from reported profit to a significant net loss for the quarter ended June 29, 2024.
📋 Key Facts
- Completed restatement of consolidated financial statements for years ended July 1, 2023, and July 2, 2022.
- Restated unaudited quarterly results for periods dating back to October 2, 2021.
- Corrected June 29, 2024, results: Net income changed from $37k (previously reported) to a net loss of $1.986M.
- The correction for Q2 2024 included a reversal of a previously reported 'Gain on insurance proceeds' of $715k.
- Adjustments to June 29, 2024 results include an increase in Cost of Sales by $3.021M and a decrease in Operating Income from $2.703M to $116k.
Key Tronic Corp has announced that previously issued financial statements for fiscal years 2022 and 2023, as well as several quarterly reports in fiscal year 2024, should no longer be relied upon. The restatement stems from an error in recording cost recovery of material price variances, which was incorrectly recorded as a reduction to COGS instead of revenue.
🚩 Red Flags
- Non-reliance on previously issued financial statements (Item 4.02).
- Potential for further required changes as the review is described as 'ongoing'.
- Mention of a prior cybersecurity incident and potential regulatory proceedings/litigation in forward-looking statements.
- Risk of Nasdaq delisting mentioned in the risk factors.
📋 Key Facts
- The company concluded it failed to consistently record cost recovery of material price variances across facilities.
- Errors resulted in the understatement of both revenue and cost of goods sold (COGS) for fiscal year 2024 and prior periods.
- Restated items include consolidated financial statements for FY ended July 1, 2023, and July 2, 2022, and unaudited condensed consolidated income statements for the first three quarters of FY 2024, FY 2023, and FY 2022.
- The restatement is expected to increase revenue and COGS but have no impact on gross profit, net income, or EPS.
- An additional ~$2.0 million adjustment to Q4 FY2024 net income is expected due to capitalized costs in inventory, insurance recovery, and credit losses.
- The company's review of the fourth quarter of fiscal year 2024 is ongoing.
Key Tronic Corporation entered into a Sixth Amendment to its Loan Agreement with Bank of America to waive existing events of default. The amendment includes an interest rate increase and a phased increase in available borrowing capacity.
🚩 Red Flags
- Existence of multiple events of default regarding financial covenants (fixed charge coverage ratios).
- Failure to deliver audited financial statements within the required 90-day window.
- Increased cost of debt due to a 50 basis point interest rate hike as a condition of the waiver.
📋 Key Facts
- Effective date of Amendment: October 9, 2024.
- Waived defaults related to fixed charge coverage ratios for periods ending June 29, 2024, and July 27, 2024.
- Waived default regarding the timely delivery of audited financial statements (overdue by >90 days).
- Interest rate increase: Base rate margin increased to 3.50% and term SOFR loans to 4.50%.
- Increased availability block from $8 million to $10 million, with planned increases to $11M (Dec 31, 2024) and $12M (Mar 31, 2025).
Key Tronic Corporation has executed a Fifth Amendment to its existing Loan, Guaranty, and Security Agreement with Bank of America, N.A. The amendment serves to extend the maturity date of the company's debt.
🚩 Red Flags
- Short-term extension: The maturity date was only pushed back by approximately three months (from Sept 2025 to Dec 2025), suggesting potential liquidity pressure or a need for more significant restructuring in the near term.
📋 Key Facts
- The Fifth Amendment was effective as of September 27, 2024.
- The agreement is with Bank of America, N.A., acting as agent and sole lead arranger.
- The maturity date of the Loan Agreement has been extended from September 3, 2025, to December 3, 2025.
Key Tronic Corporation announced the establishment of performance goals for its 2025 Incentive Compensation Plan (ICP) and a long-term incentive plan for the 2025-2027 period. The filing also details executive salary increases and the granting of Restricted Stock Units (RSUs) to key officers and directors.
🚩 Red Flags
- Incentive structures are heavily tied to profit/EBITDA targets; failure to meet minimums results in zero payout for executives and directors.
📋 Key Facts
- Established fiscal year 2025 ICP goals based on three levels: entry, expected value, and overachievement; a minimum profit goal must be met for any payouts.
- CEO Brett R. Larsen's potential 2025 ICP payment ranges from 10% to 150% of base salary.
- CFO Anthony G. Voorhees and EVP Philip S. Hochberg have potential 2025 ICP payments ranging from 7% to 105% of base salary.
- Approved a bi-weekly salary increase for Philip S. Hochberg from $15,162 to $16,678, effective September 3, 2024.
- Established 2025-2027 Long-Term Incentive Plan (LTIP) based on sales growth vs. industry and return on invested capital (ROIC).
- Granted RSUs to Mr. Larsen (55,431 units), Mr. Voorhees (27,716 units), and Mr. Hochberg (27,716 units) under the 2010 Incentive Plan.
- RSU grants include performance-based vesting tied to annual EBITDA thresholds.
This is an amendment to a previous 8-K filing regarding the appointment of Cheryl Beranek to the Board of Directors. The amendment specifically details her committee assignments and the appointment of Mr. Kulkarni to the Compensation and Administration Committee.
📋 Key Facts
- Amendment (8-K/A) to an original report filed on January 9, 2024.
- Cheryl Beranek appointed to the Audit Committee, effective August 8, 2024.
- Cheryl Beranek appointed to the Compensation and Administration Committee, effective August 8, 2024.
- Cheryl Beranek appointed to the Governance and Nominating Committee, effective August 8, 2024.
- Mr. Kulkarni appointed to the Compensation and Administration Committee, effective August 8, 2024.
Key Tronic Corporation filed an 8-K to announce its financial results for the fiscal quarter ended June 29, 2024. The filing serves as a formal announcement of the earnings release issued on August 13, 2024.
📋 Key Facts
- Report date: August 13, 2024
- Reporting period: Quarter ended June 29, 2024
- The filing includes a press release as Exhibit 99.1 regarding financial results.
Key Tronic Corp filed an amendment to its previous 8-K to provide supplemental details regarding a cybersecurity incident detected on May 6, 2024. The breach resulted in significant operational disruptions and quantifiable financial losses related to unfulfilled revenue and remediation costs.
🚩 Red Flags
- Significant revenue deferral ($15M) impacting quarterly performance metrics.
- Direct financial impact from remediation and additional expenses ($2.3M).
- Data breach involving exfiltration of personally identifiable information (PII), which carries long-term legal and regulatory risk.
📋 Key Facts
- Cybersecurity incident detected on May 6, 2024, involving unauthorized third-party access to IT systems.
- Domestic (US) and Mexico operations were halted for approximately two weeks during remediation.
- The company incurred approximately $2.3 million in additional expenses due to the incident.
- Approximately $15 million in revenue from Q4 FY2024 could not be fulfilled; these orders are expected to shift to FY2025.
- Personally identifiable information (PII) was exfiltrated by the threat actor.
- Operations and corporate functions were fully restored as of mid-June 2024.
Key Tronic Corporation issued a preliminary press release announcing its financial results for the fiscal quarter ended June 29, 2024. The filing serves as a formal notice of the earnings announcement via Exhibit 99.1.
📋 Key Facts
- Reporting period: Quarter ended June 29, 2024.
- Announcement date: August 2, 2024.
- The filing includes a preliminary press release as Exhibit 99.1.
Key Tronic Corp filed an amendment to its previous 8-K to disclose a consulting agreement with retiring CEO Craig D. Gates. The agreement outlines terms for his transition following his retirement on June 30, 2024.
🚩 Red Flags
- CEO transition: While common, the departure of a President/CEO is a significant leadership change for a micro-cap company.
📋 Key Facts
- CEO Craig D. Gates is retiring effective June 30, 2024.
- The Company entered into a Consulting Agreement with Mr. Gates on June 20, 2024.
- The consulting term runs from June 30, 2024, to June 30, 2026.
- Mr. Gates will receive monthly payments of $10,000 for his services.
- Existing long-term incentive plan awards and Stock Appreciation Rights (SARs) will continue to vest according to original terms.
Key Tronic Corp (KTCC) filed an amendment to its 8-K reporting a material cybersecurity incident involving unauthorized third-party access to IT systems. The breach resulted in the exfiltration of personally identifiable information and caused a two-week operational halt in domestic and Mexico facilities.
🚩 Red Flags
- Material impact expected on Q4 financial results due to lost production and remediation costs.
- Exfiltration of personally identifiable information (PII) poses regulatory and litigation risk.
- Disruption of financial and operating reporting systems during the incident.
📋 Key Facts
- Cybersecurity incident detected on May 6, 2024.
- Unauthorized third party accessed portions of IT systems, including financial and operating reporting systems.
- Domestic and Mexico operations were halted for approximately two weeks during remediation.
- The company has incurred ~$600,000 in expenses to date for external cybersecurity experts.
- Data exfiltration confirmed: limited data including personally identifiable information (PII) was stolen.
- Company expects a material impact on financial condition and results of operations for the Q4 ending June 29, 2024.
This 8-K/A amendment provides details regarding the compensatory arrangements for new executive appointments following a leadership transition. Specifically, it outlines the base salaries for Brett R. Larsen (incoming CEO) and Anthony G. Voorhees (incoming CFO), effective June 30, 2024.
🚩 Red Flags
- Management turnover: The company is undergoing a complete replacement of the CEO and CFO roles simultaneously.
📋 Key Facts
- Brett R. Larsen appointed as President and CEO; annual base salary of $800,000 effective June 30, 2024.
- Anthony G. Voorhees appointed as EVP Administration, CFO, and Treasurer; annual base salary of $385,000 effective June 30, 2024.
- The Board expects to establish incentive compensation plans and long-term incentive awards in August 2024.
- This filing amends a previous 8-K filed on January 9, 2024.
Key Tronic Corporation entered into a Fourth Amendment to its Loan Agreement with Bank of America, N.A., resulting in more lenient debt covenants but higher interest costs and an extended maturity date.
🚩 Red Flags
- Increased cost of debt (+100 bps interest rate hike).
- Need for covenant relief suggests potential pressure on liquidity or cash flow.
- Step-up provisions in the coverage ratio increase the risk of technical default in future quarters.
📋 Key Facts
- Amendment effective as of March 29, 2024.
- Fixed charge coverage ratio minimum requirement reduced from 1.25:1.00 to 1.00:1.00 (effective March 30, 2024).
- Allows for the add-back of severance expenses incurred in Q1 2024.
- Interest rate increased by 100 basis points starting March 29, 2024.
- Maturity date pushed forward by one year to September 3, 2025.
- Fixed charge coverage ratio will step up incrementally: 1.05:1.00 (July 2024), 1.15:1.00 (Oct 2024), 1.20:1.00 (Jan 2025), and back to 1.25:1.00 in March 2025.
Key Tronic Corp reported a material cybersecurity incident detected on May 6, 2024, involving unauthorized third-party access to portions of its IT systems. The breach has caused disruptions to business applications, including financial and operating reporting systems.
🚩 Red Flags
- Disruption to financial and operating reporting systems creates risk for delayed or inaccurate financial filings.
- Full scope and nature of the impact are currently unknown, making management's 'no material impact' assessment premature.
- Cybersecurity incidents in micro-cap companies can lead to significant unbudgeted remediation costs.
📋 Key Facts
- Incident detected: May 6, 2024.
- Nature of incident: Unauthorized third-party access to IT systems.
- Impacted areas: Business applications supporting operations, corporate functions, and financial/operating reporting systems.
- Status: The Company believes the unauthorized activity has been contained; investigation is ongoing with external experts and law enforcement.
- Management assessment: As of May 9, 2024, management does not believe the incident is reasonably likely to have a material impact on financial condition or results of operations.
Key Tronic Corporation filed an 8-K to announce its financial results for the fiscal quarter ended March 30, 2024. The filing serves as a formal announcement of the earnings release via press release.
📋 Key Facts
- Report date: May 7, 2024
- Reporting period: Quarter ended March 30, 2024
- The filing includes an earnings press release as Exhibit 99.1
- Information is not deemed 'filed' for purposes of Section 18 liability
Key Tronic Corporation issued an 8-K to announce the release of preliminary financial results for the fiscal quarter ended March 30, 2024.
📋 Key Facts
- Preliminary financial results announced via press release on April 25, 2024.
- Reporting period: Quarter ended March 30, 2024.
- The filing includes a safe harbor statement regarding forward-looking statements.
Key Tronic Corporation filed an 8-K to announce its financial results for the fiscal quarter ended December 30, 2023. The filing serves as a formal notice that a press release containing these results was issued on February 6, 2024.
📋 Key Facts
- Report date: February 6, 2024
- Reporting period: Quarter ended December 30, 2023
- The filing includes a press release as Exhibit 99.1 containing the financial results.
Key Tronic Corp announced a significant leadership transition involving the retirement of its CEO and several key executive appointments. The current CEO, Craig D. Gates, will retire on June 30, 2024, to be succeeded by CFO Brett R. Larsen.
🚩 Red Flags
- Succession planning involves a significant reshuffle of the entire top-tier management team (CEO, COO/CEO-elect, and CFO) occurring simultaneously.
- The transition period for the CEO is relatively long (6 months), which can create organizational uncertainty.
📋 Key Facts
- CEO Craig D. Gates to retire effective June 30, 2024; he will remain as a director and provide consulting services.
- Brett R. Larsen (current CFO) appointed as President and CEO-elect, effective immediately as COO during the transition period until June 30, 2024.
- Anthony G. Voorhees (current VP of Finance/Controller) to succeed Brett R. Larsen as CFO and Treasurer on June 30, 2024.
- Board Chair Patrick Sweeney retired effective January 4, 2024; Ronald F. Klawitter will act as Chair.
- Cheryl Beranek appointed to the Board of Directors to fill the vacancy left by Mr. Sweeney's retirement.