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Key Technology, Inc. (KTEC) – Making a Positive Turn Towards Profitability

Key Technology (KTEC) is an international leader in the design and manufacture of process automation systems for the food processing and industrial markets. Using innovative technology, the company’s primary markets are processed and package food, pharmaceutical and industrial products, including fresh and processed fruits and vegetables, potatoes, nuts, snacks and meat, as well as coffee, tobacco, plastics, paper and other products.

In third quarter 2007, Key Technology reported its fiscal year ended with a 26.8% increase in fiscal sales compared to 2006. Net earnings also increased, reporting $7.4M compared with the net loss of $793,000 in fiscal 2006. Results were also announced for its 2007 fourth quarter. Net sales for the three-month period ending September 2007 was an all-time quarterly record at $31.7M, a 31.3% increase compared to the $24.2 million reported for the same quarter last year. Net earnings for the fourth quarter were $2.3 million compared with a net loss of $581,000 in the same period a year ago.

David Camp, President and Chief Executive Officer, commented, “Key Technology had its most profitable year in the Company’s history. We are encouraged by the results of both the Aftermarket initiative, which contributed positively to earnings in 2007, and our Symetix business, which ended 2007 with orders exceeding our expectations.”

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