STRATTEC SECURITY CORPORATION Generated $9.4 million in Cash from Operations in Fiscal 2025 Second Quarter
-
Grew revenue
to$11.4 million in the quarter as a result of new program launches and increased demand from customers$129.9 million -
Net income attributable to STRATTEC Security Corporation was
, or diluted EPS of$1.3 million , compared with$0.32 , or diluted EPS of$1.0 million , in the year ago quarter$0.26 -
Adjusted diluted earnings per share1 were
, compared with$0.65 in the prior year$0.36 -
Generated
in cash from operations, bringing year-to-date cashflow from operations to$9.4 million $20.8 million -
Delivered adjusted EBITDA1 of
, or$8.0 million 6.1% of sales, compared with , or$5.0 million 4.3% , in the prior-year second quarter - Transformation efforts continue to focus on driving profitability, stronger cash generation and creating a sustainable business model while evaluating market opportunities and future growth plans
STRATTEC President and CEO Jennifer Slater said, “Our solid financial results reflect the focus the team is placing on our key priorities of stabilizing the business, optimizing costs, and identifying where our engineering innovation commands the right to win. Sales growth was the result of production trends with key customers and, in particular, with the platforms on which we have higher value content. We made progress this last quarter to strengthen our earnings power as we restructured our
Ms. Slater concluded, “Talent is critical for our transformation, and we made further investments this quarter. We are gaining traction with our customers as our new chief commercial officer identifies opportunities for both new projects as well as pricing that reflects the value of our product offering. We recognize that an engaged and motivated team generates creativity and excitement for our future and we are creating a stronger, more open culture with new leadership in human resources. Importantly as well, we now have the financial leadership needed to support our strategic objectives. We are making solid progress as a team and, in addition to these strategic efforts, we are proactively addressing the potential challenges the tariffs may present.”
FY 2025 Second Quarter Financial Summary
(compared with prior-year period, except where otherwise noted)
Net sales were
Gross profit increased
Engineering, selling and administrative expenses increased
Operating income increased
Diluted earnings per share were
Balance Sheet and Liquidity
Second quarter fiscal 2025 cash flow from operations was
At December 29, 2024, STRATTEC had
At December 29, 2024 the Company had
Second Quarter Fiscal Year 2025 Webcast and Conference Call
The Company will host a conference call and webcast tomorrow, Friday, February 7, 2025, at 9:00 am Eastern Time to review the financial and operating results for the period ended December 29, 2024, and provide an update on its transformation progress. A question-and-answer session will follow.
You can access the call by phoning (201) 689-8470 or find the webcast and accompanying slide presentation at investors.strattec.com.
A telephonic replay will be available from 12:00 p.m. ET on the day of the call through Friday, February 21, 2025. To listen to the archived call, dial (412) 317-6671 and enter a replay PIN 13751178. The webcast replay will be available on the Investor Relations section of the Company’s website where a transcript will be posted once available.
About STRATTEC
STRATTEC is a leading global provider of advanced automotive access, security & authorization and select user interface solutions. With a history spanning over 110 years, STRATTEC has consistently been at the forefront of innovation in vehicle security, transitioning from mechanical to integrated electro-mechanical systems. The Company serves a broad range of customers, including leading automotive OEMs, offering power access solutions and advanced security systems that include door handles, lift gates, latches, and key fobs.
For more information on STRATTEC and its solutions, visit www.strattec.com.
Safe Harbor Statement
Certain statements contained in this release contain “forward-looking statements” 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 “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “planned,” “potential,” “should,” “will,” and “would.” Such forward-looking statements are inherently subject to many uncertainties in the Company’s operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company’s and its customers’ products, competitive and technological developments, customer purchasing actions, changes in warranty provisions and customer 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
Use of Non-GAAP Financial Metrics and Additional Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, STRATTEC provides Adjusted Non-GAAP information as additional information for its operating results. References to Adjusted Non-GAAP information are to non-GAAP financial measures. These measures are not required by, in accordance with, or an alternative for, GAAP and may be different from similarly titled non-GAAP financial measures used by other companies. STRATTEC’s management uses these measures to make strategic decisions, establish budget plans and forecasts, identify trends affecting STRATTEC’s business, and evaluate performance. Management believes that providing these non-GAAP financial measures to investors, as a supplement to GAAP financial measures, will help investors evaluate STRATTEC’s core operating and financial performance and business trends consistent with how management evaluates such performance and trends. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.
________________________
1 Refer to “Use of Non-GAAP Financial Metrics and Additional Financial Information” as well as accompanying reconciliations to GAAP
FINANCIAL TABLES FOLLOW
STRATTEC SECURITY CORPORATION | |||||||||||||||
Condensed Results of Operations | |||||||||||||||
(In Thousands, except per share amounts) | |||||||||||||||
(Unaudited) | |||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||
December 29, 2024 |
December 31, 2023 |
December 29, 2024 |
December 31, 2023 |
||||||||||||
Net sales | $ |
129,919 |
|
$ |
118,532 |
|
$ |
268,971 |
|
$ |
253,938 |
|
|||
Cost of goods sold |
|
112,768 |
|
|
105,035 |
|
|
232,899 |
|
|
221,721 |
|
|||
Gross profit |
|
17,151 |
|
|
13,497 |
|
|
36,072 |
|
|
32,217 |
|
|||
Engineering, selling and administrative expenses |
|
15,017 |
|
|
13,439 |
|
|
28,875 |
|
|
26,053 |
|
|||
Income from operations |
|
2,134 |
|
|
58 |
|
|
7,197 |
|
|
6,164 |
|
|||
Interest expense |
|
(257 |
) |
|
(219 |
) |
|
(552 |
) |
|
(439 |
) |
|||
Investment income |
|
408 |
|
|
107 |
|
|
757 |
|
|
194 |
|
|||
Other (expense) income, net |
|
(482 |
) |
|
1,098 |
|
|
(353 |
) |
|
967 |
|
|||
Income before provision for income taxes and non-controlling interest |
|
1,803 |
|
|
1,044 |
|
|
7,049 |
|
|
6,886 |
|
|||
Provision for income taxes |
|
405 |
|
|
264 |
|
|
1,903 |
|
|
1,651 |
|
|||
Net income |
|
1,398 |
|
|
780 |
|
|
5,146 |
|
|
5,235 |
|
|||
Net income (loss) attributable to non- controlling interest |
|
79 |
|
|
(242 |
) |
|
124 |
|
|
48 |
|
|||
Net income attributable to STRATTEC SECURITY CORPORATION | $ |
1,319 |
|
$ |
1,022 |
|
$ |
5,022 |
|
$ |
5,187 |
|
|||
Earnings per share attributable to STRATTEC SECURITY CORPORATION: | |||||||||||||||
Basic | $ |
0.33 |
|
$ |
0.26 |
|
$ |
1.25 |
|
$ |
1.31 |
|
|||
Diluted | $ |
0.32 |
|
$ |
0.26 |
|
$ |
1.24 |
|
$ |
1.30 |
|
|||
Weighted Average shares outstanding: | |||||||||||||||
Basic |
|
4,035 |
|
|
3,976 |
|
|
4,020 |
|
|
3,962 |
|
|||
Diluted |
|
4,070 |
|
|
3,998 |
|
|
4,058 |
|
|
3,986 |
|
STRATTEC SECURITY CORPORATION | |||||||
Condensed Balance Sheet | |||||||
(In Thousands, except share amounts) | |||||||
(Unaudited) | |||||||
December 29, 2024 |
June 30, 2024 |
||||||
ASSETS | |||||||
Current Assets: | |||||||
Cash and cash equivalents | $ |
42,625 |
|
$ |
25,410 |
|
|
Receivables, net |
|
91,567 |
|
|
99,297 |
|
|
Inventories: | |||||||
Finished products |
|
18,808 |
|
|
19,833 |
|
|
Work in process |
|
13,462 |
|
|
15,461 |
|
|
Purchased materials |
|
49,241 |
|
|
46,355 |
|
|
Inventories, net |
|
81,511 |
|
|
81,649 |
|
|
Pre-production costs |
|
11,651 |
|
|
22,173 |
|
|
Value-added tax recoverable |
|
21,083 |
|
|
19,684 |
|
|
Other current assets |
|
5,497 |
|
|
5,601 |
|
|
Total current assets |
|
253,934 |
|
|
253,814 |
|
|
Deferred income taxes |
|
17,102 |
|
|
17,593 |
|
|
Other long-term assets |
|
5,587 |
|
|
6,698 |
|
|
Net property, plant and equipment |
|
79,272 |
|
|
86,184 |
|
|
$ |
355,895 |
|
$ |
364,289 |
|
||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||
Current Liabilities: | |||||||
Accounts payable | $ |
50,615 |
|
$ |
54,911 |
|
|
Accrued Liabilities: | |||||||
Payroll and benefits |
|
15,604 |
|
|
28,953 |
|
|
Value-added tax payable |
|
10,054 |
|
|
9,970 |
|
|
Environmental |
|
1,390 |
|
|
1,390 |
|
|
Warranty |
|
10,946 |
|
|
10,695 |
|
|
Other current liabilities |
|
8,966 |
|
|
12,369 |
|
|
Total current liabilities |
|
97,575 |
|
|
118,288 |
|
|
Borrowings under credit facilities |
|
13,000 |
|
|
13,000 |
|
|
Postemployment obligations |
|
12,563 |
|
|
2,429 |
|
|
Other long-term liabilities |
|
4,602 |
|
|
4,957 |
|
|
Shareholders’ Equity: | |||||||
Common stock, authorized 18,000,000 shares, |
|
76 |
|
|
76 |
|
|
Capital in excess of par value |
|
102,118 |
|
|
101,024 |
|
|
Retained earnings |
|
255,634 |
|
|
250,612 |
|
|
Accumulated other comprehensive loss |
|
(17,827 |
) |
|
(15,689 |
) |
|
Less: treasury stock, at cost (3,597,299 shares at December 29, 2024 and 3,598,126 shares at June 30, 2024) |
|
(135,465 |
) |
|
(135,478 |
) |
|
Total STRATTEC SECURITY CORPORATION shareholders’ equity |
|
204,536 |
|
|
200,545 |
|
|
Non-controlling interest |
|
23,619 |
|
|
25,070 |
|
|
Total shareholders’ equity |
|
228,155 |
|
|
225,615 |
|
|
$ |
355,895 |
|
$ |
364,289 |
|
STRATTEC SECURITY CORPORATION | ||||||||||||||||
Condensed Cash Flow Statement | ||||||||||||||||
(In Thousands) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
December 29, 2024 |
December 31, 2023 |
December 29, 2024 |
December 31, 2023 |
|||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||||||
Net income | $ |
1,398 |
|
$ |
780 |
|
$ |
5,146 |
|
$ |
5,235 |
|
||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||||||
Depreciation |
|
3,544 |
|
|
4,330 |
|
|
7,206 |
|
|
8,715 |
|
||||
Foreign currency transaction gain |
|
(188 |
) |
|
(123 |
) |
|
(1,193 |
) |
|
(349 |
) |
||||
Unrealized loss (gain) on peso forward contracts |
|
284 |
|
|
(826 |
) |
|
936 |
|
|
(826 |
) |
||||
Stock-based compensation expense |
|
891 |
|
|
479 |
|
|
1,079 |
|
|
984 |
|
||||
Loss on settlement of postemployment obligation |
|
— |
|
|
— |
|
|
283 |
|
|
— |
|
||||
Change in operating assets and liabilities: | ||||||||||||||||
Receivables |
|
10,568 |
|
|
16,845 |
|
|
7,379 |
|
|
19,178 |
|
||||
Inventories |
|
2,283 |
|
|
(8,072 |
) |
|
138 |
|
|
(11,842 |
) |
||||
Prepaid and other assets |
|
1,963 |
|
|
(4,739 |
) |
|
7,844 |
|
|
(12,404 |
) |
||||
Accounts payable |
|
(9,026 |
) |
|
(9,083 |
) |
|
(3,990 |
) |
|
(16,441 |
) |
||||
Accrued liabilities |
|
(2,542 |
) |
|
(2,894 |
) |
|
(4,580 |
) |
|
410 |
|
||||
Other, net |
|
269 |
|
|
261 |
|
|
533 |
|
|
426 |
|
||||
Net cash provided by (used in) operating activities |
|
9,444 |
|
|
(3,042 |
) |
|
20,781 |
|
|
(6,914 |
) |
||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||||||
Proceeds from sale of interest in joint ventures |
|
— |
|
|
— |
|
|
— |
|
|
2,000 |
|
||||
Purchase of property, plant and equipment |
|
(917 |
) |
|
(1,473 |
) |
|
(2,990 |
) |
|
(4,393 |
) |
||||
Net cash used in investing activities |
|
(917 |
) |
|
(1,473 |
) |
|
(2,990 |
) |
|
(2,393 |
) |
||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||||||
Borrowings under credit facilities |
|
— |
|
|
— |
|
|
3,000 |
|
|
2,000 |
|
||||
Repayment of borrowings under credit facilities |
|
— |
|
|
— |
|
|
(3,000 |
) |
|
(2,000 |
) |
||||
Employee stock purchases |
|
15 |
|
|
20 |
|
|
28 |
|
|
37 |
|
||||
Net cash provided by financing activities |
|
15 |
|
|
20 |
|
|
28 |
|
|
37 |
|
||||
Foreign currency impact on cash |
|
(320 |
) |
|
405 |
|
|
(604 |
) |
|
274 |
|
||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
|
8,222 |
|
|
(4,090 |
) |
|
17,215 |
|
|
(8,996 |
) |
||||
CASH AND CASH EQUIVALENTS | ||||||||||||||||
Beginning of period |
|
34,403 |
|
|
15,665 |
|
|
25,410 |
|
|
20,571 |
|
||||
End of period | $ |
42,625 |
|
$ |
11,575 |
|
$ |
42,625 |
|
$ |
11,575 |
|
||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||||||||||
Cash paid during the period for: | ||||||||||||||||
Income taxes | $ |
4,458 |
|
$ |
682 |
|
$ |
8,539 |
|
$ |
1,446 |
|
||||
Interest | $ |
279 |
|
$ |
222 |
|
$ |
559 |
|
$ |
440 |
|
||||
Non-cash investing activities: | ||||||||||||||||
Change in capital expenditures in accounts payable | $ |
56 |
|
$ |
18 |
|
$ |
(450 |
) |
$ |
(175 |
) |
STRATTEC SECURITY CORPORATION |
||||||||||||||||||||||||||||||
Reconciliation of GAAP to Non-GAAP Financial Measures |
||||||||||||||||||||||||||||||
(in thousands, except per share amounts) |
||||||||||||||||||||||||||||||
Fiscal 2024 | Fiscal 2025 | |||||||||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Total | Q1 | Q2 | Q3 | Q4 | Total | |||||||||||||||||||||
ADJUSTED NET SALES: | ||||||||||||||||||||||||||||||
Net Sales (GAAP) |
|
135,406 |
|
|
118,532 |
|
|
140,773 |
|
|
143,055 |
|
$ |
537,766 |
|
|
139,052 |
|
|
129,919 |
|
|
- |
|
- |
$ |
268,971 |
|
||
Adjustments: | ||||||||||||||||||||||||||||||
Retroactive FY23 one-time pricing recovery |
|
(7,950 |
) |
|
(1,551 |
) |
|
(397 |
) |
|
175 |
|
|
(9,723 |
) |
|
- |
|
|
- |
|
|
- |
|
- |
|
- |
|
||
Adjusted Sales (Non-GAAP) |
|
127,456 |
|
|
116,981 |
|
|
140,376 |
|
|
143,230 |
|
|
528,043 |
|
|
139,052 |
|
|
129,919 |
|
|
- |
|
- |
|
268,971 |
|
||
ADJUSTED EBITDA: | ||||||||||||||||||||||||||||||
Net income attributable to STRATTEC (GAAP) | $ |
4,165 |
|
$ |
1,022 |
|
$ |
1,506 |
|
$ |
9,620 |
|
$ |
16,313 |
|
$ |
3,703 |
|
$ |
1,319 |
|
$ |
- |
$ |
- |
$ |
5,022 |
|
||
Net income (loss) attributable to non-controlling interest |
|
290 |
|
|
(242 |
) |
|
(380 |
) |
|
447 |
|
|
115 |
|
|
45 |
|
|
79 |
|
|
- |
|
- |
|
124 |
|
||
Provision for income tax |
|
1,387 |
|
|
264 |
|
|
546 |
|
|
1,578 |
|
|
3,775 |
|
|
1,498 |
|
|
405 |
|
|
- |
|
- |
|
1,903 |
|
||
Other (income) expense, net |
|
131 |
|
|
(1,098 |
) |
|
208 |
|
|
(1,958 |
) |
|
(2,717 |
) |
|
(129 |
) |
|
482 |
|
|
- |
|
- |
|
353 |
|
||
Investment and interest income |
|
(87 |
) |
|
(107 |
) |
|
(143 |
) |
|
(235 |
) |
|
(572 |
) |
|
(349 |
) |
|
(408 |
) |
|
- |
|
- |
|
(757 |
) |
||
Interest expense |
|
220 |
|
|
219 |
|
|
222 |
|
|
239 |
|
|
900 |
|
|
295 |
|
|
257 |
|
|
- |
|
- |
|
552 |
|
||
Income from operations |
|
6,106 |
|
|
58 |
|
|
1,959 |
|
|
9,691 |
|
|
17,814 |
|
|
5,063 |
|
|
2,134 |
|
|
- |
|
- |
|
7,197 |
|
||
Adjustments: | ||||||||||||||||||||||||||||||
Depreciation |
|
4,385 |
|
|
4,330 |
|
|
4,059 |
|
|
3,773 |
|
$ |
16,547 |
|
|
3,662 |
|
|
3,544 |
|
|
- |
|
- |
$ |
7,206 |
|
||
Non-cash stock-based compensation |
|
505 |
|
|
479 |
|
|
240 |
|
|
243 |
|
|
1,467 |
|
|
188 |
|
|
891 |
|
|
- |
|
- |
|
1,079 |
|
||
Restructuring and similar charges |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
265 |
|
|
- |
|
- |
|
265 |
|
||
Retroactive FY23 one-time pricing recovery, net |
|
(7,078 |
) |
|
(641 |
) |
|
(298 |
) |
|
24 |
|
|
(7,993 |
) |
|
- |
|
|
- |
|
|
- |
|
- |
|
- |
|
||
Executive transition costs |
|
- |
|
|
774 |
|
|
211 |
|
|
73 |
|
|
1,058 |
|
|
941 |
|
|
921 |
|
|
- |
|
- |
|
1,862 |
|
||
Business transformation costs |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
73 |
|
|
215 |
|
|
- |
|
- |
|
288 |
|
||
|
(2,188 |
) |
|
4,942 |
|
|
4,212 |
|
|
4,113 |
|
|
11,079 |
|
|
4,864 |
|
|
5,836 |
|
|
- |
|
- |
|
10,700 |
|
|||
Adjusted EBITDA (Non-GAAP) | $ |
3,918 |
|
$ |
5,000 |
|
$ |
6,171 |
|
$ |
13,804 |
|
$ |
28,893 |
|
$ |
9,927 |
|
$ |
7,970 |
|
$ |
- |
$ |
- |
$ |
17,897 |
|
||
Adjusted EBITDA as a % of Adjusted Net Sales |
|
3.1 |
% |
|
4.3 |
% |
|
4.4 |
% |
|
9.6 |
% |
|
5.5 |
% |
|
7.1 |
% |
|
6.1 |
% |
|
6.7 |
% |
||||||
ADJUSTED NET INCOME AND EARNINGS/(LOSS) PER SHARE: | ||||||||||||||||||||||||||||||
Net income attributable to STRATTEC (GAAP) | $ |
4,165 |
|
$ |
1,022 |
|
$ |
1,506 |
|
$ |
9,620 |
|
$ |
16,313 |
|
$ |
3,703 |
|
$ |
1,319 |
|
$ |
- |
$ |
- |
$ |
5,022 |
|
||
Adjustments: | ||||||||||||||||||||||||||||||
Restructuring and similar charges |
|
265 |
|
|
3 |
|
|
- |
|
|
63 |
|
|
331 |
|
|
- |
|
|
265 |
|
|
- |
|
- |
|
265 |
|
||
Retroactive FY23 one-time pricing recovery, net |
|
(7,078 |
) |
|
(641 |
) |
|
(298 |
) |
|
24 |
|
|
(7,993 |
) |
|
- |
|
|
- |
|
|
- |
|
- |
|
- |
|
||
Executive transition costs |
|
- |
|
|
973 |
|
|
211 |
|
|
73 |
|
|
1,257 |
|
|
1,224 |
|
|
1,225 |
|
|
- |
|
- |
|
2,449 |
|
||
Business transformation costs |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
73 |
|
|
215 |
|
|
- |
|
- |
|
288 |
|
||
Non-controlling interest impact on above adjustments |
|
1,014 |
|
|
181 |
|
|
55 |
|
|
22 |
|
|
1,272 |
|
|
- |
|
|
- |
|
|
- |
|
- |
|
- |
|
||
Tax effect on above adjustments |
|
1,305 |
|
|
(116 |
) |
|
7 |
|
|
(41 |
) |
|
1,155 |
|
|
(292 |
) |
|
(384 |
) |
|
- |
|
- |
|
(676 |
) |
||
|
(4,494 |
) |
|
400 |
|
|
(25 |
) |
|
141 |
|
|
(3,978 |
) |
|
1,005 |
|
|
1,321 |
|
|
- |
|
- |
|
2,326 |
|
|||
Adjusted Net Income/(Loss) attributable to STRATTEC (Non-GAAP) | $ |
(329 |
) |
$ |
1,422 |
|
$ |
1,481 |
|
$ |
9,761 |
|
$ |
12,335 |
|
$ |
4,708 |
|
$ |
2,640 |
|
$ |
- |
$ |
- |
$ |
7,348 |
|
||
Weighted Average Basic Shares Outstanding |
|
3,948 |
|
|
3,976 |
|
|
3,988 |
|
|
3,988 |
|
|
3,975 |
|
|
4,005 |
|
|
4,035 |
|
|
- |
|
- |
|
4,020 |
|
||
Weighted Average Diluted Shares Outstanding |
|
3,974 |
|
|
3,998 |
|
|
4,017 |
|
|
4,027 |
|
|
4,004 |
|
|
4,046 |
|
|
4,070 |
|
|
- |
|
- |
|
4,058 |
|
||
Diluted earnings per share (GAAP) | $ |
1.05 |
|
$ |
0.26 |
|
$ |
0.37 |
|
$ |
2.39 |
|
$ |
4.07 |
|
$ |
0.92 |
|
$ |
0.32 |
|
$ |
- |
$ |
- |
$ |
1.24 |
|
||
Adjusted dilutive earnings/(loss) per share (Non-GAAP) | $ |
(0.08 |
) |
$ |
0.36 |
|
$ |
0.37 |
|
$ |
2.42 |
|
$ |
3.08 |
|
$ |
1.16 |
|
$ |
0.65 |
|
$ |
- |
$ |
- |
$ |
1.81 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20250206064011/en/
Deborah K. Pawlowski
Alliance Advisors IR
Phone: 716-843-3908
Email: dpawlowski@allianceadvisors.com
Source: STRATTEC SECURITY CORPORATION