{"id":752235,"date":"2023-04-27T16:06:05","date_gmt":"2023-04-27T20:06:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results\/"},"modified":"2023-04-27T16:06:05","modified_gmt":"2023-04-27T20:06:05","slug":"strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results\/","title":{"rendered":"STRATTEC SECURITY CORPORATION Reports Fiscal 2023 Third Quarter Operating Results"},"content":{"rendered":"
\n

MILWAUKEE, April 27, 2023 (GLOBE NEWSWIRE) — STRATTEC SECURITY CORPORATION (\u201cSTRATTEC\u201d or the \u201cCompany\u201d) (NASDAQ:STRT) today reported operating results for the fiscal third quarter ended April 2, 2023.<\/p>\n

Net sales for the third quarter ended April 2, 2023 were $127.2 million, compared to net sales of $115.9 million for the third quarter ended March 27, 2022. Net loss was $2.3 million in the current year third quarter, compared to net income of $3.1 million in the prior year third quarter. Diluted loss per share for the current year third quarter was $0.57 compared to diluted earnings per share of $0.80 in the prior year third quarter.<\/p>\n

For the nine months ended April 2, 2023, the Company\u2019s net sales were $360.7 million compared to net sales of $329.2 million in the prior year nine-month period. Net loss during the current year nine-month period was $4.0 million compared to a net income of $6.6 million during the prior year nine-month period. Diluted loss per share was $1.01 during the nine-month period ended April 2, 2023 compared to diluted earnings per share of $1.70 during the nine-month period ended March 27, 2022.<\/p>\n

Profitability for both the current year quarter and for the nine-month period ended April 2, 2023 was negatively impacted by higher inflationary costs for materials, labor and shipping compared with that for the respective prior year periods more than offsetting the higher sales effect.<\/p>\n

Net sales to each of our customers in the current year quarter and prior year quarter were as follows (in millions):
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Three Months Ended<\/u>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n April 2, 2023<\/u>\n <\/td>\n\u00a0<\/td>\n\n March 27, 2022<\/u>\n <\/td>\n<\/tr>\n
General Motors Company<\/td>\n$<\/td>\n37.5<\/td>\n\u00a0<\/td>\n$<\/td>\n34.7<\/td>\n<\/tr>\n
Ford Motor Company<\/td>\n\u00a0<\/td>\n23.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19.2<\/td>\n<\/tr>\n
Stellantis<\/td>\n\u00a0<\/td>\n21.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23.0<\/td>\n<\/tr>\n
Tier 1 Customers<\/td>\n\u00a0<\/td>\n19.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.3<\/td>\n<\/tr>\n
Commercial and Other OEM Customers<\/td>\n\u00a0<\/td>\n13.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.5<\/td>\n<\/tr>\n
Hyundai \/ Kia<\/td>\n\u00a0<\/td>\n11.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.2<\/td>\n<\/tr>\n
TOTAL<\/td>\n$<\/td>\n127.2<\/td>\n\u00a0<\/td>\n$<\/td>\n115.9<\/td>\n<\/tr>\n<\/table>\n

\n
The quarter-over-quarter sales increase of $11.2 million was due to improved global semiconductor chip availability in the current year quarter relative to the prior year quarter, which positively impacted sales to General Motors Company, Ford Motor Company, Hyundai \/ Kia and Tier 1 Customers. Specifically, sales growth to General Motors Company in the current year quarter was attributed to higher production volumes of their GM and Chevrolet pickup trucks and SUVs for which we supply components. Increased sales to Ford Motor Company in the current year quarter were due to higher production volumes of their pickup trucks for which we supply components. And sales to Hyundai \/ Kia increased in the current year quarter due to higher production levels of their minivan.<\/p>\n

The decrease in sales to Stellantis resulted primarily from its plant shutdowns in the current year quarter, which reduced production volumes compared to the prior year quarter. Sales to Commercial and Other OEM Customers, which are comprised of aftermarket products and vehicle access control products, such as latches, fobs, driver controls and door handles, declined in the current year quarter as compared to the prior year quarter due to the allocation of available semiconductor chips toward the production of components for production vehicles, rather than these aftermarket products.<\/p>\n

Gross Profit margins declined to 7.9% in the current year quarter compared to 12.6% in the prior year quarter primarily due to higher cost of purchased materials, increased costs in our Mexican operations related to the mandatory minimum wage increase enacted by the Mexican Government effective January 1, 2023, and an unfavorable average U.S. dollar \/ Mexican Peso exchange rate between quarters. Additionally, the current year quarter includes a $1.3 million warranty provision associated with a customer’s specific warranty claim involving our product.<\/p>\n

Engineering, Selling and Administrative expenses increased $1.2 million in the current year quarter compared with the prior year quarter primarily due to higher outside expenditures on new product development associated with utilizing third party vendors for a portion of our development work.<\/p>\n

Included in Other (Expense) Income, Net in the current year quarter compared to the prior year quarter were the following items (in thousands of dollars):\u00a0<\/p>\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nApril 2,<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nMarch 27,<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n2023<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2022<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equity Earnings of VAST LLC Joint Venture<\/td>\n$<\/td>\n819<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n577<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Foreign Currency Transaction (Loss)<\/td>\n\u00a0<\/td>\n(1,125<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n470<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n(98<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(188<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n$<\/td>\n(404<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n859<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
The equity earnings of VAST LLC in the current year quarter compared to the prior year quarter were higher due to improved profitability in VAST China.<\/p>\n

Frank Krejci President and CEO commented: \u201cThis quarter has proved to be another challenging one. Although shipping volumes improved from the previous quarter and we began to see modest relief in the cost of raw materials, the inflationary pressure from our suppliers continued to escalate.
Additionally, effective January 1 we began to feel the impact of a significant government mandated wage increase in Mexico. And while the U.S. dollar remained strong in much of the world, it has continued to weaken against the Mexican peso which put further pressure on our profitability.
As we look to the near future, the team is hard at work preparing the launch of new business with more favorable margins, and we continue to find ways to improve operational efficiencies, including vertical integration opportunities. We expect both to benefit our bottom line in the short and the long term.
Raising prices remains challenging due to long term contracts with our customers. While serious discussions continue with our customers on obtaining price concessions, the results to date have had limited financial benefit.
Our team continues to focus on securing price increases, implementing efficiency improvements, launching significant new business won over the last two years and pursuing new business with a heightened focus on Electric Vehicle opportunities.\u201d<\/p>\n

STRATTEC designs, develops, manufactures and markets automotive Access Control Products, including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power liftgate systems, power tailgate systems, power deck lid systems, door handles and related products. These products are provided to customers in North America, and on a global basis through a unique strategic relationship with WITTE Automotive of Velbert, Germany and ADAC Automotive of Grand Rapids, Michigan. Under this relationship, STRATTEC, WITTE and ADAC market each company\u2019s products to global customers under the \u201cVAST Automotive Group\u201d brand name. STRATTEC\u2019s history in the automotive business spans over 110 years.<\/p>\n

\n Certain statements contained in this release contain \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccould,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cplanned,\u201d \u201cpotential,\u201d \u201cshould,\u201d \u201cwill,\u201d and \u201cwould.\u201d Such forward-looking statements in this release are inherently subject to many uncertainties in the Company\u2019s operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company\u2019s and its customers\u2019 products, competitive and technological developments, customer purchasing actions, changes in warranty provisions and customers\u2019 product recall policies, work stoppages at the Company or at the location of its key customers as a result of labor disputes, foreign currency fluctuations, uncertainties stemming from U.S. trade policies, tariffs and reaction to same from foreign countries, the volume and scope of product returns or customer cost reimbursement actions, adverse business and operational issues resulting from <\/em>
\n semiconductor chip supply shortages and<\/em>
\n the coronavirus (COVID-19) pandemic and costs of operations (including fluctuations in the cost, and factors impacting the availability, of necessary raw materials). Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release. In addition, such uncertainties and other operational matters are discussed further in the Company\u2019s quarterly and annual filings with the Securities and Exchange Commission.<\/em>
\n \n <\/p>\n

\n
\n
\n
STRATTEC SECURITY CORPORATION<\/u>
\n <\/strong>
\n
\n Condensed Results of Operations<\/strong>
\n
\n (In Thousands except per share amounts)<\/strong>
\n
\n (Unaudited)<\/em>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Third Quarter Ended<\/em>\n <\/td>\n\u00a0<\/td>\n\n Nine Months Ended<\/em>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\nApril 2, 2023<\/td>\n\u00a0<\/td>\nMarch 27, 2022<\/td>\n\u00a0<\/td>\nApril 2, 2023<\/td>\n\u00a0<\/td>\nMarch 27, 2022<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Sales<\/td>\n$<\/td>\n127,183<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n115,943<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n360,727<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n329,192<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of Goods Sold<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 117,182<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 101,305<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 330,843<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 287,072<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross Profit<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10,001<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,638<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 29,884<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 42,120<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Engineering, Selling & Administrative Expenses<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,485<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11,261<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 37,266<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 34,683<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(Loss) Income from Operations<\/td>\n\u00a0<\/td>\n(2,484<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,377<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,382<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7,437<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest Expense<\/td>\n\u00a0<\/td>\n(266<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(54<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(591<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(159<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other (Expense) Income, net<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (404<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 859<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 470<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,249<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(Loss) Income Before Provision for Income Taxes and Non- Controlling Interest<\/td>\n\u00a0<\/td>\n(3,154<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,182<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,503<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8,527<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision (Benefit) for Income Taxes<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 133<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 50<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,638<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 339<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (Loss) Income<\/td>\n\u00a0<\/td>\n(3,287<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,132<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5,865<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8,188<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (Loss) Income Attributable to Non-Controlling Interest<\/td>\n\u00a0<\/td>\n(1,031<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 989<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,895<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,556<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (Loss) Income Attributable to STRATTEC SECURITY CORPORATION<\/td>\n$<\/td>\n(2,256<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n3,143<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,970<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n6,632<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
(Loss) Earnings Per Share:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n$<\/td>\n(0.57<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n0.81<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(1.01<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n1.72<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n$<\/td>\n(0.57<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n0.80<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(1.01<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n1.70<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average Basic Shares Outstanding<\/td>\n\u00a0<\/td>\n3,928<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,871<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,918<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,856<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average Diluted Shares Outstanding<\/td>\n\u00a0<\/td>\n3,928<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,916<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,918<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,906<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Other<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Capital Expenditures<\/td>\n$<\/td>\n4,247<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4,045<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n13,724<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,407<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation<\/td>\n$<\/td>\n4,347<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4,756<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n13,145<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n14,724<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n <\/p>\n

STRATTEC SECURITY CORPORATION<\/u>
\n <\/strong>
\n
\n Condensed Balance Sheet Data<\/strong>
\n
\n (In Thousands)<\/strong>
\n
\n (Unaudited)<\/em>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nApril 2, 2023<\/td>\n\u00a0<\/td>\nJuly 3, 2022<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
ASSETS<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCurrent Assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nCash and Cash Equivalents<\/td>\n$<\/td>\n12,086<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n8,774<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nReceivables, net<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 83,581<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,827<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nInventories, net<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 69,615<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n80,482<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nCustomer Tooling in Progress, net<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 20,516<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10,828<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nOther Current Assets<\/td>\n\u00a0<\/td>\n21,227<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12,321<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal Current Assets<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 207,025<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n188,232<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nInvestment in Joint Ventures<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 27,773<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,654<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther Long-term Assets<\/td>\n\u00a0<\/td>\n12,565<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,519<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nProperty, Plant and Equipment, net<\/td>\n\u00a0<\/td>\n94,035<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n91,729<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n341,398<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n319,134<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
LIABILITIES AND SHAREHOLDERS’ EQUITY<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCurrent Liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nAccounts Payable<\/td>\n$<\/td>\n48,546<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n43,950<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nOther<\/td>\n\u00a0<\/td>\n47,034<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,579<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal Current Liabilities<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 95,580<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n81,529<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAccrued Pension and Postretirement Obligations<\/td>\n\u00a0<\/td>\n2,543<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,588<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nBorrowings Under Credit Facility<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 21,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther Long-term Liabilities<\/td>\n\u00a0<\/td>\n3,802<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,070<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nShareholders’ Equity<\/td>\n\u00a0<\/td>\n339,863<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n342,568<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAccumulated Other Comprehensive Loss<\/td>\n\u00a0<\/td>\n(16,572<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(18,588<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nLess: Treasury Stock<\/td>\n\u00a0<\/td>\n(135,542<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(135,580<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nTotal STRATTEC SECURITY<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nCORPORATION Shareholders’ Equity<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 187,749<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n188,400<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nNon-Controlling Interest<\/td>\n\u00a0<\/td>\n30,724<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,547<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nTotal Shareholders’ Equity<\/td>\n\u00a0<\/td>\n218,473<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n219,947<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n341,398<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n319,134<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n <\/p>\n

STRATTEC SECURITY CORPORATION<\/u>
\n <\/strong>
\n
\n Condensed Cash Flow Statement Data<\/strong>
\n
\n (In Thousands)<\/strong>
\n
\n (Unaudited)<\/em>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Third Quarter Ended<\/em>\n <\/td>\n\u00a0<\/td>\n\n Nine Months Ended<\/em>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nApril 2, 2023<\/td>\n\u00a0<\/td>\nMarch 27, 2022<\/td>\n\u00a0<\/td>\nApril 2, 2023<\/td>\n\u00a0<\/td>\nMarch 27, 2022<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash Flows from Operating Activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (Loss) Income<\/td>\n$<\/td>\n(3,287<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n4,132<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(5,865<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n8,188<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjustments to Reconcile Net (Loss) Income to<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nCash (Used In) Provided by Operating Activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDepreciation<\/td>\n\u00a0<\/td>\n4,347<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,756<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 13,145<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,724<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nEquity Earnings in Joint Ventures<\/td>\n\u00a0<\/td>\n(819<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(577<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,934<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(941<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nForeign Currency Transaction Loss<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,529<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 319<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,114<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 76<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nUnrealized Loss (Gain) on Peso Forward Contracts<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a070<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(724<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a093<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(500<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nStock Based Compensation Expense<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 265<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n239<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,139<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 873<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nChange in Operating Assets\/Liabilities<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3,665<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,439<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1,767<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(11,151<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nOther, net<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 337<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 181<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 587<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 514<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Cash (Used In) Provided by Operating Activities<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1,223<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11,765<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7,512<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11,783<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
Cash Flows from Investing Activities:<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nInvestment in Joint Ventures<\/td>\n\u00a0<\/td>\n(133<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (75\u00a0\u00a0\u00a0<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(237<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (75\u00a0\u00a0\u00a0<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nAdditions to Property, Plant & Equipment<\/td>\n\u00a0<\/td>\n(4,247<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4,045<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(13,724<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9,407<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nProceeds on Sales of Property, Plant & Equipment<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 15<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Cash Used in Investing Activities<\/td>\n\u00a0<\/td>\n(4,369<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4,120<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(13,946<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9,482<\/td>\n)<\/td>\n<\/tr>\n
\n
Cash Flows from Financing Activities:<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nBorrowings on Line of Credit Facility<\/td>\n\u00a0<\/td>\n4,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 13,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nPayments on Line of Credit Facility<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8,000<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,000<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(11,000<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nDividends Paid to Non-Controlling Interest of
Subsidiary<\/td>\n		\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (600\u00a0\u00a0\u00a0<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(600<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,200<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\nExercise of Stock Options and Employee Stock
Purchases<\/td>\n		\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 18<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n245<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n164<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 884<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Cash Provided by (Used In) Financing Activities<\/td>\n\u00a0<\/td>\n4,018<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (5,355<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9,564<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (316<\/td>\n)<\/td>\n<\/tr>\n
\n
Effect of Foreign Currency Fluctuations on Cash<\/td>\n		\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 98<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n182<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
Net (Decrease) Increase in Cash & Cash Equivalents<\/td>\n		\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1,492<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2,388<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,312<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,994<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
Cash & Cash Equivalents:<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nBeginning of Period<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 13,578<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,071<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,774<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,465<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nEnd of Period<\/td>\n$<\/td>\n12,086<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16,459<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,086<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16,459<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
Contact: Dennis Bowe
Vice President and
Chief Financial Officer
414-247-3399
www.strattec.com<\/a>\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

MILWAUKEE, April 27, 2023 (GLOBE NEWSWIRE) — STRATTEC SECURITY CORPORATION (\u201cSTRATTEC\u201d or the \u201cCompany\u201d) (NASDAQ:STRT) today reported operating results for the fiscal third quarter ended April 2, 2023. Net sales for the third quarter ended April 2, 2023 were $127.2 million, compared to net sales of $115.9 million for the third quarter ended March 27, 2022. Net loss was $2.3 million in the current year third quarter, compared to net income of $3.1 million in the prior year third quarter. Diluted loss per share for the current year third quarter was $0.57 compared to diluted earnings per share of $0.80 in the prior year third quarter. For the nine months ended April 2, 2023, the Company\u2019s net sales were $360.7 … <\/p>\n

Continue reading “STRATTEC SECURITY CORPORATION Reports Fiscal 2023 Third Quarter Operating Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-752235","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSTRATTEC SECURITY CORPORATION Reports Fiscal 2023 Third Quarter Operating Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"STRATTEC SECURITY CORPORATION Reports Fiscal 2023 Third Quarter Operating Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MILWAUKEE, April 27, 2023 (GLOBE NEWSWIRE) — STRATTEC SECURITY CORPORATION (\u201cSTRATTEC\u201d or the \u201cCompany\u201d) (NASDAQ:STRT) today reported operating results for the fiscal third quarter ended April 2, 2023. Net sales for the third quarter ended April 2, 2023 were $127.2 million, compared to net sales of $115.9 million for the third quarter ended March 27, 2022. Net loss was $2.3 million in the current year third quarter, compared to net income of $3.1 million in the prior year third quarter. Diluted loss per share for the current year third quarter was $0.57 compared to diluted earnings per share of $0.80 in the prior year third quarter. 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Net sales for the third quarter ended April 2, 2023 were $127.2 million, compared to net sales of $115.9 million for the third quarter ended March 27, 2022. Net loss was $2.3 million in the current year third quarter, compared to net income of $3.1 million in the prior year third quarter. Diluted loss per share for the current year third quarter was $0.57 compared to diluted earnings per share of $0.80 in the prior year third quarter. For the nine months ended April 2, 2023, the Company\u2019s net sales were $360.7 … Continue reading \"STRATTEC SECURITY CORPORATION Reports Fiscal 2023 Third Quarter Operating Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results\/","og_site_name":"Market Newsdesk","article_published_time":"2023-04-27T20:06:05+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNzMyOCM1NTYwMjg4IzIwMDkyMjA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"STRATTEC SECURITY CORPORATION Reports Fiscal 2023 Third Quarter Operating Results","datePublished":"2023-04-27T20:06:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results\/"},"wordCount":1636,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNzMyOCM1NTYwMjg4IzIwMDkyMjA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/strattec-security-corporation-reports-fiscal-2023-third-quarter-operating-results\/","name":"STRATTEC SECURITY CORPORATION Reports Fiscal 2023 Third Quarter Operating Results - 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