Market Overview

Key Tronic Surging over 33% after Earnings Beat

Shares of electronic manufacturing services company Key Tronic (NASDAQ: KTCC) are seeing much strength during Wednesday's trading session after the company announced quarterly results last night, which beat analyst estimates.

For the second quarter of fiscal 2012, Key Tronic reported total revenue of $84.5 million, up 38% from $61.0 million in the same period of fiscal 2011. For the first six months of fiscal 2012, total revenue was $154.2 million, up 24% from $124.4 million in the same period of fiscal 2011.

Net income for the second quarter of fiscal 2012 was $3.2 million or $0.30 per diluted share, up 83% from $1.7 million or $0.17 per diluted share for the same period of fiscal 2011. Net income per diluted share for the second quarter of fiscal 2012 included $0.11 for research and development tax credits. For the first six months of fiscal 2012, net income was $4.4 million or $0.42 per diluted share, up 27% from $3.5 million or $0.33 per diluted share for the same period of fiscal 2011.

Currently, shares of Key Tronic are trading over 33% higher at $8.35.

Posted-In: Earnings News Intraday Update Movers

 

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