Key Technology, Inc. (Nasdaq: KTEC) announced today sales and operating results for the second quarter of fiscal 2009 ended March 31, 2009.
Net sales for the three-month period ended March 31, 2009 totaled $23.3 million, compared to $29.1 million recorded in the corresponding quarter last year. The Company reported a net loss for the quarter of $1.5 million, or $0.30 per diluted share, compared to net earnings of $1.2 million, or $0.22 per diluted share, in the same period a year ago. The net loss for the second quarter of fiscal 2009 included pre-tax charges of $845,000 related to a workforce reduction and a $343,000 write-off of previously incurred costs associated with a potential facility expansion.
David Camp, President and Chief Executive Officer, stated, “Most major geographic regions, customer markets and product lines have been adversely affected by the global economic slowdown. Although we are receiving new projects and inquiries from customers, the sales cycle from inquiry to firm order has become longer than we previously experienced.”
Net sales for the three-month period ended March 31, 2009 totaled $23.3 million, compared to $29.1 million recorded in the corresponding quarter last year. The Company reported a net loss for the quarter of $1.5 million, or $0.30 per diluted share, compared to net earnings of $1.2 million, or $0.22 per diluted share, in the same period a year ago. The net loss for the second quarter of fiscal 2009 included pre-tax charges of $845,000 related to a workforce reduction and a $343,000 write-off of previously incurred costs associated with a potential facility expansion.
David Camp, President and Chief Executive Officer, stated, “Most major geographic regions, customer markets and product lines have been adversely affected by the global economic slowdown. Although we are receiving new projects and inquiries from customers, the sales cycle from inquiry to firm order has become longer than we previously experienced.”
