Key Tronic reports quarterly loss of $200,000

Key Tronic Corp. reported a $200,000 loss during the three-month period ending Dec. 30, which officials attributed to one-time charges of $1.1 million during the quarter.

The Spokane Valley company’s net loss amounted to 2 cents per share on revenues of $111.7 million. For the same quarter a year ago, Key Tronic reported net income of $1.5 million, or 14 cents per share, on revenues of $118.5 million.

Company officials said the quarterly earnings were influenced by charges for overseas earnings and a write down of tax assets related to U.S. tax reform. In future quarters, Key Tronic expects to benefit from a reduction in its corporate tax rate.

Key Tronic is a contract manufacturer with operations in the U.S., Mexico and China.