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Key Technology Announces Fiscal 2013 First Quarter Results

Stocks in this article: KTEC

News releases and other information about Key Technology, Inc. can be accessed at .

(Financial Tables Follow)

Key Technology, Inc. and Subsidiaries
Statement of Selected Operating Information
(Unaudited, in thousands, except per share data)
  Three Months Ended December 31,
  2012 2011
Net sales  $ 19,854  $ 25,972
Cost of sales 13,370 17,411
Gross profit 6,484 8,561
Operating expenses:    
Sales and marketing 3,857 4,301
Research and development 1,736 1,999
General and administrative 2,129 2,466
Amortization of intangibles 4 4
Total operating expenses 7,726 8,770
Gain on disposition of assets 20 1
Loss from operations (1,222) (208)
Other income (expense) (63) (149)
Loss before income taxes (1,285) (357)
Income tax benefit (411) (114)
Net loss $ (874) $ (243)
Net loss per share    
- basic $ (0.16) $ (0.05)
- diluted $ (0.16) $ (0.05)
Shares used in per share calculation - basic 5,304 5,344
Shares used in per share calculation - diluted 5,304 5,344
Key Technology, Inc. and Subsidiaries
Selected Balance Sheet Information
(Unaudited, in thousands)
  December 31, 2012 September 30, 2012
Cash and cash equivalents  $ 25,798  $ 23,755
Trade accounts receivable, net 7,912 11,426
Inventories 27,736 23,166
Total current assets 68,070 64,193
Property, plant and equipment, net 18,082 18,370
Goodwill and other intangibles, net 2,689 2,560
Total assets 90,083 86,355
Total current liabilities, including current portion of long-term debt 24,768 20,057
Long-term debt 4,739 4,833
Shareholders' equity  $ 58,725  $ 59,430
CONTACT: Financial Media Inquiries:
         Evan Pondel or Laurie Berman
         PondelWilkinson, Inc.
         Tel: +1 310 279 5980
         Investor Inquiries:
         Jack Ehren, President and CEO
         Key Technology, Inc.
         Tel: +1 509-394-3120

Key Logo-rgb 2006

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