KEY Technology Records Increase in Sales and Profit in 2017
Key Technology, Inc. has announced sales and operating results for fiscal 2017, recording an increase in net sales of USD19.9m.
Net sales for fiscal 2017 were USD139.9 m, an increase of USD19.9 million, or 17%, compared to the USD120.0m reported for fiscal 2016.
The company reported net earnings for fiscal 2017 of USD4.0 million, or USD0.63 per diluted share, compared to a net loss of USD0.7m, or USD0.11 per diluted share, for fiscal 2016.
For the 2017 fiscal year, gross profit was USD47.2m, compared to USD36.0m for fiscal 2016, or 33.7% and 30.0%, respectively, of net sales.
Operating expenses for the year ended September 30, 2017 were USD40.1m, or 28.7% of net sales, compared to USD36.2m, or 30.2% of net sales, for fiscal 2016.
Jack Ehren, President and Chief Executive Officer, commented, “Our record annual net sales and orders in fiscal 2017, and our solid increase in gross margins and net earnings, demonstrate that we are continuing to make strong progress toward the execution of our long-term global strategy. Our new VERYX platform is steadily becoming a more significant portion of our overall Automated Inspection Systems orders and net sales.”
Ehren added that an important component of our overall strategy is to grow the EMEIA and North America businesses, and the on-going investments in these regions are generating real returns.
Related artcies
Key Technology Introduces New Enhancements to Vibratory Conveyors
Key Technology Presents VERYX Digital Sorters to Middle East Food Processors
