Key Technology Announces Fiscal 2009 and Fourth Quarter Results

Key Technology, Inc. (Nasdaq: KTEC) today announced sales and operating results for the year ended September 30, 2009.

Net sales for fiscal 2009 were $105.4 million, a 21.4% decrease from the $134.1 million reported for fiscal 2008.  The Company reported a net loss for the year of $491,000, or $0.10 per diluted share, compared with net earnings of $7.5 million, or $1.35 per diluted share, for fiscal 2008.

David Camp, President and Chief Executive Officer, commented, “The uncertainty of the global economic environment has continued to affect our marketplaces.  Our customers remain cautious and conservative in their capital equipment spending, resulting in reduced demand and delayed purchasing decisions.  However, we believe we are beginning to realize benefit from our strategic investments in product development, which resulted in the introduction of 16 new product solutions in 2009.  During the fourth quarter, we received $8.2 million in orders related to a previously-announced $20 million agreement with a major vegetable processor, a significant portion of which are for our Manta® 1600 sorter.  This, and other new orders, supports our confidence that our new products will create differentiated value for our customers, and we expect to realize future benefit from these investments.”