Milwaukee, Wisconsin – August 9, 2011 -- STRATTEC SECURITY CORPORATION (NASDAQ:STRT) today reported operating results for the fiscal fourth quarter and year ended July 3, 2011.
Fiscal 2011 fourth quarter and full year net sales and income significantly improved over fiscal 2010, continuing the positive trend which began early in the Company’s prior fiscal year. The Company’s fiscal 2011 net sales reached a record high, exceeding the previous record by approximately 16%.
Net sales for the fourth quarter ended July 3, 2011 were $74.2 million, compared to net sales of $61.4 million for the fourth quarter ended June 27, 2010. The 2011 fiscal fourth quarter was 14 weeks while 2010’s fourth quarter was the typical 13 weeks. The impact of the additional week of customer shipments during the current year quarter increased sales by approximately $4.5 million. Net income was $2.7 million during the current quarter, compared to $853,000 in the prior year quarter. Diluted earnings per share for the fourth quarter were $.81 compared to $.26 in the prior year quarter.
The following information was filed by Strattec Security Corp (STRT) on Tuesday, August 9, 2011 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: 0000950123-11-083320 Submitted to the SEC: Thu Sep 08 2011 1:13:46 PM EST Accepted by the SEC: Thu Sep 08 2011 Period: Sunday, July 3, 2011 Industry: Motor Vehicle Parts And Accessories