NEW YORK, September 16, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Key Technology, Inc. (NASDAQ: KTEC). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=KTEC

Highlights from our KTEC Report include: 


        
        - Third Quarter Results Review - On July 23, 2015, Key Technology, Inc. announced
          its financial results for the third quarter ended June 30, 2015. The Company reported
          that net sales for its third quarter amounted to $30.8 million, as compared to net
          sales of $31.3 million reported in Q3 2014. As per the Company's third quarter 2015
          earnings call transcript released by Seeking Alpha, Vice President and CFO of Key
          Technology, Jeff Siegal informed that sales of automated inspection systems in third
          quarter totaled $13.1 million, reflecting a 13% YoY decrease. Third quarter net sales
          of process systems were $10.1 million, up 11% YoY and Parts and service net sales were
          $7.6 million, up 8% increase. Additionally, the Company generated net earnings of
          $295,000 or about 5 cents per diluted share during the quarter vis-a-vis reported net
          loss of $2.0 million or 32 cents loss per diluted share in the previous year period.



        
        - Operational Performance Highlights - The gross profit for the third quarter of
          fiscal 2015 was $9.2 million, compared to $8.2 million in the corresponding period
          last year. As a percentage of net sales, gross profit was 30.0% and 26.0% in the third
          quarter of fiscal 2015 and 2014, respectively. Jack Ehren, President and CEO of Key
          Technology informed that the increase in the Company's gross margin level on a
          year-over-year basis were aided by favorable facility utilization in fiscal 2015, and
          the absence of the workforce reduction-related charges that were incurred in Q3 2014.
          Total Operating expenses for Q3 2015 were $8.6 million, or 28.0% of net sales,
          compared to $11.1 million, or 35.5% of sales, in the same quarter last year. Jack
          Ehren added that continues management of overall cost structure helped the Company to
          reduce operating expenses significantly across all functional areas.



        
        - Orders Book and Backlog - The Company's backlog at the end of Q3 2015 was $29.9
          million as against $26.6 million, a year ago. New orders received by the Company
          during the quarter were $28.5 million, which were higher than the previous year's
          figure of $26.9 million. Jack Ehren informed that during Q3 2015, orders from Europe
          achieved a quarterly record with several strategic wins across all core market
          segments, while orders from North America remained sluggish due to a slow-down in
          capital investment and project delays in our core segments.  

To find out how this influences our rating on Key Technology, Inc. read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=KTEC

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