8-K

EFFECTIVE APRIL 23, 2020

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported) April 23, 2020

Key Tronic Corporation

(Exact name of registrant as specified in its charter)

Washington		0-11559	91-0849125
(State or other jurisdiction of incorporation)		(Commission File Number)	(IRS Employer Identification No.)
4424 North Sullivan Road	Spokane Valley,	Washington	99216
(Address of principal executive offices)			(Zip Code)

Registrant's telephone number, including area code (509) 928-8000

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provision (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company	☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.	¨

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ITEM 8.01 OTHER EVENTS

On April 23, 2020, Key Tronic Corporation issued a press release announcing the temporary closure of its Juarez, Mexico production facilities as a result of new restrictions by the Mexican government due to COVID-19. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information in this Form 8-K including the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section and shall not be deemed incorporated by reference into any filing of Key Tronic Corporation under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as set forth by specific reference in such a filing.

ITEM 8.01 OTHER EVENTS

(d) Exhibits

Exhibit Number	Description
99.1	Press Release Dated April 23, 2020

SAFE HARBOR STATEMENT. Statements contained in the Exhibit to this report that state Key Tronic Corporation's or its management's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. Key Tronic Corporation's actual results could differ materially from those projected in such forward-looking statements. Factors that could affect those results include those mentioned in the documents that Key Tronic Corporation has filed with the Securities and Exchange Commission.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	KEY TRONIC CORPORATION (Registrant)
Date: April 23, 2020
	By:	/s/ Brett R. Larsen
		Brett R. Larsen, Executive Vice President of Administration, CFO and Treasurer

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EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

CONTACTS:	Brett Larsen	Michael Newman
	Chief Financial Officer	Investor Relations
	Key Tronic Corporation	StreetConnect
	(509) 927-5500	(206) 729-3625

KEY TRONIC CORPORATION ANNOUNCES REQUIRED TEMPORARY CLOSURE OF JUAREZ FACILITIES DUE TO COVID-19

Spokane Valley, WA— April 23, 2020 — Key Tronic Corporation (Nasdaq: KTCC), a provider of electronic manufacturing services (EMS), today announced the temporary closure of its Juarez, Mexico production facilities as a result of new restrictions by the Mexican government, which could potentially last until May 30, 2020 (unless further extended).

On Tuesday, April 21, 2020, the Mexican government began closing certain manufacturing facilities in Mexico that it believes do not manufacture essential products that are sold directly to Mexican government agencies or businesses within Mexico. Although under U.S. regulations Key Tronic has been classified as an Essential Critical Infrastructure Employer (as defined by the Cybersecurity and Infrastructure Security Agency) and its Juarez facilities do manufacture essential products which are sold back into Mexico, the Mexican government’s shutdown included the Company’s Juarez facilities.

Like some other companies similarly situated, the Company is petitioning the Mexican government to have its Juarez facilities reopened as soon as possible.

Depending on the length of the closure of the Juarez facilities, the Company’s financial results could be materially and adversely affected due to the shutdown. The Company plans to report on, among other things, this development and its potential effects, as well as its financial results for and condition at the end of the third quarter of fiscal 2020, on April 28, 2020.

About Keytronic

Key Tronic is a leading contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico, China and Vietnam. The Company provides its customers full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, and worldwide distribution. Its customers include some of the world’s leading original equipment manufacturers. For more information about Key Tronic visit: www.keytronic.com.

Some of the statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, words such as aims, anticipates, believes, could, estimates, expects, hopes, intends, plans, predicts, projects, targets, or will, similar verbs and other future tense or conditional verbs, or nouns corresponding to such verbs, which may be forward looking. Forward-looking statements also include other passages that are relevant to expected future events, performances, and actions or that can only be fully evaluated by events that will occur in the future. Forward-looking statements in this release include, without limitation, the Company’s statements regarding closure of its Juarez facilities and related matters, actions by and relating to the Mexican government affecting the Company’s manufacturing facilities, its financial condition and results (including regarding third fiscal quarter of 2020 and future periods), and actions of its customers and other third parties. There are many factors, risks and uncertainties that could cause actual results to differ materially from those predicted or projected in forward-looking statements, including but not limited to: the impact of continuing and new governmental legislation, regulation and other action, including manufacturing restrictions in Mexico and other countries, tax reform, tariffs and related activities, such as trade negotiations and other risks, including those related to COVID-19 response; the future of the global trade and economic environment and its impact on our customers and suppliers, particularly during the COVID-19 health crisis; the availability of components from the supply chain; the availability of the Company’s manufacturing facilities for production and of a healthy workforce; the accuracy of suppliers’ and customers’ forecasts and needs for our services; development and success of customers’ programs and products; timing and effectiveness of ramping and servicing of new programs; success of new-product introductions; acquisitions or divestitures of operations or facilities; technology advances; changes in pricing policies by the Company, its competitors, customers or suppliers; and other factors, risks, and uncertainties detailed from time to time in the Company’s SEC filings.

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Cover Page Document	Apr. 23, 2020
Cover Page [Abstract]
Document Type	8-K
Document Period End Date	Apr. 23, 2020
Entity Registrant Name	Key Tronic Corp
Entity Incorporation, State or Country Code	WA
Entity File Number	0-11559
Entity Tax Identification Number	91-0849125
Entity Address, Address Line One	4424 North Sullivan Road
Entity Address, City or Town	Spokane Valley,
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	99216
City Area Code	509
Local Phone Number	928-8000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000719733
Amendment Flag	false