REPORTS FISCAL 2012 FOURTH QUARTER AND FULL YEAR RESULTS
Milwaukee, Wisconsin – August 7, 2012-- STRATTEC SECURITY CORPORATION (NASDAQ:STRT) today reported operating results for the fiscal fourth quarter and year ended July 1, 2012.
Fiscal 2012 fourth quarter and full year net sales and income significantly improved over fiscal 2011, continuing the positive trend which began early in the Company’s prior fiscal year. The Company’s fiscal 2012 net sales reached a record high, exceeding the prior year record by approximately 7%.
Net sales for the fourth quarter ended July 1, 2012 were $76.4 million, compared to net sales of $74.2 million for the fourth quarter ended July 3, 2011. The 2012 fiscal fourth quarter was the typical 13 weeks while fiscal 2011’s fourth quarter was 14 weeks. The impact of the additional week of customer shipments during the prior year quarter increased net sales by approximately $4.5 million. Net income was $3.2 million during the current quarter, compared to $2.7 million in the prior year quarter. Diluted earnings per share for the fourth quarter were $.97 compared to $.81 in the prior year quarter.
The following information was filed by Strattec Security Corp (STRT) on Tuesday, August 7, 2012 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: 0001193125-12-382395 Submitted to the SEC: Thu Sep 06 2012 12:14:14 PM EST Accepted by the SEC: Thu Sep 06 2012 Period: Sunday, July 1, 2012 Industry: Motor Vehicle Parts And Accessories