WALLA WALLA, Wash., April 16, 2009 (GLOBE NEWSWIRE) -- Key Technology, Inc. (Nasdaq:KTEC) announced today that Craig Miller, Senior Vice President and General Manager of the SYMETIX Business Unit, will resign from the Company to pursue other interests, effective April 17, 2009. The SYMETIX Business Unit will report to Jack Ehren, Senior Vice President and Chief Financial Officer.
David Camp, President and Chief Executive Officer, commented, "Jack played an important role in our recent investment in Proditec SAS and has had significant operational and international business management experience. His initial focus will be on executing our strategic and commercial initiatives in the pharmaceutical and nutraceutical markets, as well as further development of the SYMETIX management team."
About Key Technology
Key Technology, Inc., headquartered in Walla Walla, Washington, is a worldwide leader in the design and manufacture of process automation systems for the food processing and industrial markets. The Company's products integrate electro-optical inspection and sorting, specialized conveying and product preparation equipment, which allow processors to improve quality, increase yield and reduce cost. Key has manufacturing facilities in Washington, Oregon, and the Netherlands, and worldwide sales and service coverage.
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements in this release address future financial and operating results.
The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements:
* current worldwide economic conditions may adversely affect the Company's business and results of operations, and the business of the Company's customers; * adverse economic conditions, particularly in the food processing industry, either globally or regionally, may adversely affect the Company's revenues; * the loss of any of the Company's significant customers could reduce the Company's revenues and profitability; * the Company is subject to pricing pressure from its larger customers which may reduce the Company's profitability; * the Company may make acquisitions that could disrupt the Company's operations and harm the Company's operating results; * the Company's international operations subject the Company to a number of risks that could adversely affect the Company's revenues, operating results and growth; * competition and advances in technology may adversely affect sales, prices and the marketability of the Company's products; * failure of the Company's new products to compete successfully in either existing or new markets; * the Company's inability to retain and recruit experienced personnel may adversely affect the Company's business and prospects for growth; * the loss of members of the Company's management team could substantially disrupt the Company's business operations; * the inability of the Company to protect the Company's intellectual property, especially as the Company expands geographically, may adversely affect the Company's competitive advantage; and * the price of the Company's common stock may fluctuate significantly and this may make it difficult for shareholders to resell common stock when they want or at prices they find attractive.
For a detailed discussion of these and other cautionary statements, please refer to the Company's filings with the Securities and Exchange Commission, particularly Item 1A, "Risk Factors," of the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2008.
Note: News releases and other information about Key Technology, Inc. can be accessed at www.key.net.