Milwaukee, Wisconsin – August 5, 2010 -- STRATTEC SECURITY CORPORATION (NASDAQ:STRT) today reported operating results for the fiscal fourth quarter and year ended June 27, 2010.
Fiscal 2010 fourth quarter and full year net sales and income significantly improved over fiscal 2009. The year-over-year comparisons are dramatic, as the prior year fourth quarter and full year results were the Company’s worst, reflecting widespread customer assembly plant shutdowns and bankruptcy filings by the Company’s two largest customers, Chrysler and General Motors. Following the end of STRATTEC’s fiscal 2009, the auto industry began making encouraging progress toward meaningful recovery. The positive trend continued throughout the Company’s fiscal 2010, which subsequently fueled the Company’s return to profitability.
The following information was filed by Strattec Security Corp (STRT) on Monday, August 9, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Form Type: 10-K Annual Report Accession Number: 0000950123-10-082891 Submitted to the SEC: Wed Sep 01 2010 10:53:21 AM EST Accepted by the SEC: Wed Sep 01 2010 Period: Sunday, June 27, 2010 Industry: Motor Vehicle Parts And Accessories