BASIS OF PRESENTATION

3 Months Ended

Sep. 27, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION

Basis of Presentation

The consolidated financial statements included herein have been prepared by Key Tronic Corporation and subsidiaries (the Company) pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in our annual consolidated financial statements have been condensed or omitted. The year-end condensed consolidated balance sheet information was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The financial statements reflect all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. The condensed consolidated financial statements as of and for the period ended September 27, 2014 include the impact of the acquisition of Ayrshire on September 3, 2014 (see Note 12). The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 28, 2014.

The Company’s reporting period is a 52/53 week fiscal year ending on the Saturday closest to June 30. The three month periods ended September 27, 2014 and September 28, 2013 were 13 week periods. Fiscal year 2015 will end on June 27,2015 which is a 52 week year, and fiscal year 2014 which ended on June 28, 2014, was also a 52 week year.

FISCAL YEAR

The Company’s reporting period is a 52/53 week fiscal year ending on the Saturday closest to June 30. The three month periods ended September 27, 2014 and September 28, 2013 were 13 week periods. Fiscal year 2015 will end on June 27,2015 which is a 52 week year, and fiscal year 2014 which ended on June 28, 2014, was also a 52 week year.