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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Key Technology Announces Strong Financial Results For Fiscal 2013 Third Quarter

Note: News releases and other information about Key Technology, Inc. can be accessed at www.key.net .

(Financial Tables to Follow)

Key Technology, Inc. and Subsidiaries
Statement of Selected Operating Information
(Unaudited, in thousands, except per share data)
         
  Three Months Ended Nine Months Ended
  June 30, June 30,
  2013 2012 2013 2012
         
Net sales $39,433 $34,620 $94,772 $87,840
Cost of sales 26,131 24,163 62,174 60,906
Gross profit 13,302 10,457 32,598 26,934
Operating expenses:        
Sales and marketing 5,301 4,740 13,897 13,599
Research and development 2,825 2,492 6,857 6,558
General and administrative 2,451 2,740 7,416 7,285
Amortization of intangibles 418 4 570 12
Total operating expenses 10,995 9,976 28,740 27,454
Gain (loss) on disposition of assets (1) (16) 49 (14)
Earnings (loss) from operations 2,306 465 3,907 (534)
Other income (expense) (208) (92) (262) (518)
Earnings (loss) before income taxes 2,098 373 3,645 (1,052)
Income tax expense (benefit) 654 109 929 (347)
Net earnings (loss) $1,444 $264 $2,716 $(705)
Net earnings (loss) per share        
- basic $0.23 $0.05 $0.47 $(0.13)
- diluted $0.23 $0.05 $0.47 $(0.13)
         
Shares used in per share calculation - basic 6,176 5,456 5,724 5,404
Shares used in per share calculation - diluted 6,219 5,463 5,730 5,404
 
Key Technology, Inc. and Subsidiaries
Selected Balance Sheet Information
(Unaudited, in thousands)
     
  June 30, 2013 September 30, 2012
     
Cash and cash equivalents $19,837 $23,755
Trade accounts receivable, net 13,922 11,426
Inventories 33,789 23,166
Total current assets 77,162 64,193
Property, plant and equipment, net 17,768 18,370
Goodwill 11,446 2,524
Intangible assets, net 10,960 36
Total assets 119,038 86,355
Total current liabilities, including current portion of long-term debt 36,920 20,057
Long-term debt 5,765 4,833
Shareholders' equity 70,809 59,430
CONTACT: Jeff Siegal
         Vice President and CFO
         Key Technology, Inc.
         Tel: +1 509-394-3300
         jsiegal@key.net
         www.key.net

Key Logo-rgb 2006

Stock quotes in this article: KTEC 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,424.85 +162.29 1.00%
S&P 500 1,862.31 +19.33 1.05%
NASDAQ 4,086.2250 +52.0640 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs