This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Key Technology Announces Fourth Quarter And Fiscal 2010 Results

Operating expenses for the year ended September 30, 2010 were $34.9 million, or 30.1% of net sales, compared to $39.6 million, or 37.6% of net sales, for fiscal 2009. Operating expenses for the quarter ended September 30, 2010 were $9.4 million, or 30.3% of net sales, compared to $10.2 million, or 35.5% of net sales, in the same quarter last year.

Orders received for the fiscal year ended September 30, 2010 were $121.1 million, a 19% increase, compared to $101.8 million in fiscal 2009. New orders received during the fiscal 2010 fourth quarter were $36.2 million, compared to $32.3 million in the same period last year. At the close of the September 2010 quarter, the Company's backlog was $35.1 million, an increase of 18%, compared to $29.7 million at the close of the corresponding period one year ago.

Camp continued, "The new orders in the quarter are a new record for a fourth quarter, and our backlog is the largest ever entering a new fiscal year. We have had an increase in orders over the previous year's quarter for the last five consecutive quarters. Our analysis is that our enhanced portfolio of products is being well-received in the industry."

At the end of fiscal 2010, the Company's cash balance was $29.1 million, up from $18.1 million at the end of fiscal 2010. Cash provided by operating activities in fiscal 2010 was $14 million, as compared to cash used for operating activities of $3.4 million in fiscal 2009.

Camp concluded, "As our balance sheet remains strong and continues to strengthen, we are actively developing existing opportunities and seeking new adjacencies that we clearly understand, fit our long-term strategy, and support our strongly-held belief that we are not just completing capital goods transactions, but are developing valued relationships with our customers."

Conference Call

The Company's conference call discussing the 2010 fiscal year and fourth quarter results can be heard live via the Internet at 2:00 p.m. Pacific Time on Thursday, November 11, 2010.   To access the audio webcast, go to  at least fifteen minutes prior to the call to download and install any necessary audio software.

About Key Technology

Key Technology, Inc., headquartered in Walla Walla, Washington, is a worldwide leader in the design and manufacture of process automation systems for the food processing, industrial and pharmaceutical markets. The Company's products integrate electro-optical inspection and sorting, specialized conveying and product preparation equipment, which allow processors to improve quality, increase yield and reduce cost. Key has manufacturing facilities in Washington, Oregon, and the Netherlands, and worldwide sales and service coverage.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs