Helped by record quarterly revenues and backlog, Key Technology, Inc. (NASDAQ: KTEC) reported solid fiscal third-quarter results last month. Earnings per share reached 54 cents, which beat the consensus by more than 63% while easily topping the year-ago performance of seven cents. Net sales pushed forward to $31 million from $21.5 million. The company’s backlog at the end of the quarter was $36.7 million, versus $24.7 million a year earlier. New orders received were 33.6 million, compared to $22.5 million. The company believes it is on track to achieve record annual net sales in fiscal 2007.
Shares of Key Technology gained 9.9% last week, putting it on the Zacks #1 Rank top performers list. The company is a worldwide leader in the design and manufacture of process automation systems for the food processing and industrial markets.
