Electronics manufacturing services firm Keytronic has revealed that a recent ransomware attack has resulted in additional expenses and lost revenue totaling over $15 million. The financial impact of this Keytronic cyberattack was disclosed in a preliminary U.S. Securities and Exchange Commission (SEC) financial report for the fourth quarter of fiscal 2024.
“Due to this event, the Company incurred approximately $2.3 million of additional expenses and believes that it lost approximately $15 million of revenue during the fourth quarter. Most of these orders are recoverable and are expected to be fulfilled in fiscal year 2025. Partially offsetting these additional expenses was an insurance gain in the amount of $0.7 million that was also recorded during the quarter,” reads the SEC financial Report.
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