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10/7/13 - $15.40
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key technology inc (KTEC) Details

Key Technology, Inc. designs, manufactures, sells, and services process automation systems integrating electro-optical inspection, sorting, and process systems in the United States and internationally. It provides automated inspection systems, including belt-fed sorters - Optyx, Tegra, and Manta that are primarily used in the fresh and frozen fruit, vegetable, and potato products segments; chute-fed sorters, such as the Visys Spyder, Visys Python, and Visys Cayman, as well as Taurys for sorting nuts, dried fruits, and frozen vegetables; Veo, an optical sorter for seed corn; Tobacco Sorter used in tobacco threshing and primary processing; and ADR, an automatic defect removal systems for use in the potato strip industry. The company also offers automated inspection equipment for solid dose pharmaceuticals and nutraceuticals through its SYMETIX pharmaceutical product line. In addition, it provides conveying and processing equipment comprising Smart Shaker vibratory solutions, which include Iso-Flo, Impulse, and Horizon systems; Rotary sizing and grading systems; and Turbo-Flo steam blanchers and SYMETIX equipment for pharmaceuticals and nutraceuticals. Further, the company offers preparation systems consisting of air cleaners and coolers, vegetable metering and blending systems, and bulk handling equipment, as well as conveying and raw food sizing, grading, and preparation equipment; and integrated whole-line solutions. Additionally, it provides PROliance suite of support services, parts, protection plans, and training solutions; spare parts and post-sale field and telephone-based repair services; RemoteMD, a real-time condition and monitoring and diagnostics analysis tool for G6 optical sorters; and online training services covering optical inspection systems and vibratory conveyors. The company sells its products directly, as well as through independent sales representatives. Key Technology, Inc. was founded in 1948 and is headquartered in Walla Walla, Washington.

591 Employees
Last Reported Date: 12/13/13
Founded in 1948

key technology inc (KTEC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $300.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $84.6K
Chief Strategy Officer, President of EMEIA an...
Total Annual Compensation: $136.0K
Senior Vice President of New Products & Busin...
Total Annual Compensation: $230.0K
Vice President of Global Aftermarket and Lega...
Total Annual Compensation: $180.0K
Compensation as of Fiscal Year 2013.

key technology inc (KTEC) Key Developments

Key Technology, Inc. Provides Earnings Guidance for the Fourth Quarter of Fiscal 2014

Key Technology, Inc. provided earnings guidance for the fourth quarter of fiscal 2014. For the quarter, net sales are expected to decrease moderately as compared to the net sales recorded in the third quarter of fiscal 2014. Gross margins are expected to be higher in the fourth quarter of fiscal 2014 as compared to the third quarter of fiscal 2014, and more in alignment with the year-to-date gross margins adjusted for the gross -- for the cost reduction charges.

Key Technology, Inc. Reports Un-Audited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2014

Key Technology, Inc. reported un-audited consolidated earnings results for the third quarter and nine months ended June 30, 2014. For the quarter, the company reported net sales totaled $31.3 million, compared to $39.4 million recorded in the corresponding quarter last year. The company reported a net loss $2,023,000, or $0.32 per diluted share, compared to net earnings of $1.4 million, or $0.23 per diluted share, in the same period a year ago. The company reported loss from operations of $3.0 million compared to earnings from operations of $2.3 million and loss before income taxes of $3.1 million compared to earnings before income taxes of $2.1 million for the last year. For the nine months, the company reported net sales of $85.6 million, compared with $94.8 million for the comparable period in fiscal 2013. The company reported a net loss of $5.3 million, or $0.85 per diluted share, compared to net earnings of $2.7 million, or $0.47 per diluted share, for the corresponding nine-month period in fiscal 2013. The company reported loss from operations of $7.8 million compared to earnings from operations of $3.9 million and loss before income taxes of $8.1 million compared to earnings before income taxes of $3.6 million for the last year.

Key Technology Introduces New Veo(TM) Max Digital Sorter for Seed Corn Ears

Key Technology expands its popular Veo family of seed corn ear sorters with the introduction of the new Veo Max. Featuring a unique high-capacity configuration that enables the output of multiple huskers to be consolidated and fed to a single digital sorter, Veo Max inspects up to 4,500 ears of corn per minute. Veo sorters automatically remove seed corn ears with remaining husks to maximize process efficiency and product quality, while reducing manual labor in the husk room by up to 75%. Every Veo sorter addresses the challenges of low labor availability and high labor costs. Veo Max, with its new configuration and high throughput, also addresses space limitations and the need for expanded layout options in high-volume husk rooms. Veo Max offers processors the flexibility to consider a layout where multiple huskers feed a single sorter. This is different than the typical layout, which has a dedicated Veo 8, Veo 12, or Veo 16 sorter matched to each individual husker. Prior to the introduction of the first Veo in 2010, seed corn processors relied on laborers to inspect ears after the automated husking operation to remove ears with significant husk remaining, since this can inhibit the downstream drying process and affect seed quality. Attending to a 16-lane husker, which typically requires up to eight laborers without Veo, will need only two laborers with Veo. Based on a single-shift operation, customers can achieve payback on a Veo sorter in less than two seasons given the system's ease of installation and low cost of ownership. With 98% sort efficiency, Veo deflects ears with residual husk to be re-husked. Compared to manual sorting, Veo improves the consistency of the inspection operation and better controls the quality of product. Veo is capable of sorting any size and variety of seed corn ear, including yellow corn on red cob, yellow corn on white cob, and white corn on white cob. With its patented vision system and proprietary software algorithms, Veo recognizes color, texture, shape, and size to detect and remove ears with husk remaining, even when the husk is the same color as the kernels. The processor defines the exact amount of husk coverage that will actuate Veo's reject system. Users can also define Veo's accept/reject thresholds to pass or remove rogue ears, immature ears, bare or partially bare cobs, diseased kernels, ears with black or white mold, stalks, shanks, and nubbins as well as small trash like stones and other organic and inorganic foreign material (FM) in the product stream. Veo Max and other Veo sorters can be configured as two-way or three-way inspection systems, as needed. Three-way sorters feature three separate discharge streams. Seed corn processors using three-way sorters often dedicate one reject stream to removing unhusked ears, which are circulated back to the husker, while the second reject stream is dedicated to waste, and the accept stream receives only good ears ready to go on to further processing. Veo seed corn sorters feature an integrated Iso-Flo® vibratory infeed system designed specifically for seed corn ears, which assures optimal presentation of ears to the vision system to maximize the effectiveness of the inspection process while minimizing kernel loss.


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