Revenue during the quarter went up marginally by 0.25 percent to $30.52 million from $30.44 million in the previous year period. Gross margin for the quarter expanded 500 basis points over the previous year period to 32.58 percent. Operating margin for the quarter period stood at positive 3.57 percent as compared to a negative 6.08 percent for the previous year period.

Operating income for the quarter was $1.09 million, compared with an operating loss of $1.85 million in the previous year period.

Jack Ehren, president and chief executive officer, commented, "We are encouraged by our overall company-wide execution in the fourth quarter of fiscal 2016. We realized improved results in all areas of our business during the quarter and fiscal year, including orders, net sales, gross margins, and operating results. We achieved our highest fourth quarter orders level ever at $36.5 million, and our annual orders of $128.7 million was the second largest orders year in the history of our Company. Our orders in the fourth quarter and fiscal year were extremely strong in the EMEIA region, driven by several significant strategic projects, most notably in the potato market. For fiscal 2016, orders in euros in the EMEIA region grew 26% over our prior record order level achieved in fiscal 2015. Orders in this region over the last two fiscal years have grown 66%. Our fourth quarter ending backlog of $40.4 million set a new Company record as the largest backlog entering a new fiscal year."

Debt comes down
Key Technology, Inc. has recorded a decline in total debt over the last one year. It stood at $5.15 million as on Sep. 30, 2016, down 11.99 percent or $0.70 million from $5.85 million on Sep. 30, 2015. Total debt was 5.37 percent of total assets as on Sep. 30, 2016, compared with 6 percent on Sep. 30, 2015. Debt to equity ratio was at 0.08 as on Sep. 30, 2016, down from 0.09 as on Sep. 30, 2015.