$STRT

STRATTEC SECURITY CORP

CIK:0000933034|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 28, 2026	Jun. 29, 2025	Jun. 30, 2024
Income Statement [Abstract]
Net sales	$ 579,392	$ 565,066	$ 537,766
Cost of goods sold	484,027	480,489	472,298
Gross profit	95,365	84,577	65,468
Selling, administrative and engineering expenses	68,842	61,793	47,654
Income from operations	26,523	22,784	17,814
Interest income	3,500	2,039	572
Interest expense	(359)	(1,007)	(900)
Other income, net	3,298	820	2,717
Earnings (loss) before income tax	32,962	24,636	20,203
Income tax expense	11,339	5,717	3,775
Net income	21,623	18,919	16,428
Net income attributable to non-controlling interest	1,025	234	115
Net income attributable to Strattec	$ 20,598	$ 18,685	$ 16,313
Earnings per share attributable to Strattec
Basic	$ 5.07	$ 4.64	$ 4.1
Diluted	$ 5	$ 4.58	$ 4.07

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 30, 2024
OPERATING ACTIVITIES:
Net income	$ 21,623	$ 18,919	$ 16,428
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	15,085	14,764	16,547
Foreign currency transaction loss (gain)	1,560	591	(2,153)
Deferred income taxes	3,563	(1,890)	(4,711)
Stock-based compensation expense	3,305	2,725	1,467
Unrealized loss (gain) on peso contracts	349	(2,314)	0
Other, net	345	1,348	919
Change in operating assets and liabilities:
Receivables	2,992	(3,085)	(9,356)
Inventories	391	16,948	(4,052)
Prepaids and other assets	9,466	12,027	(13,562)
Accounts payable	(10,431)	10,674	(3,016)
Accrued liabilities	(1,944)	970	13,754
Net cash provided by operating activities	46,304	71,677	12,265
INVESTING ACTIVITIES:
Proceeds from sale of interest in joint ventures	0	0	2,000
Purchase of property, plant and equipment	(7,328)	(7,156)	(9,788)
Proceeds from sale of property, plant and equipment	1,930	0	0
Net cash used in investing activities	(5,398)	(7,156)	(7,788)
FINANCING ACTIVITIES:
Borrowings under credit facilities	0	3,000	2,000
Repayments under credit facilities	(8,000)	(8,000)	(2,000)
Payment for debt issuance costs	(132)	0	0
Repurchases of common stock under share repurchase program	(7,400)	0	0
Payment for taxes withheld from stock-based awards	(1,442)	0	0
Share issuances	64	61	72
Net cash (used in) provided by financing activities	(16,910)	(4,939)	72
Foreign currency impact on cash	(332)	(413)	290
NET INCREASE IN CASH AND CASH EQUIVALENTS	23,664	59,169	4,839
CASH AND CASH EQUIVALENTS:
Beginning of year	84,579	25,410	20,571
End of year	108,243	84,579	25,410
Cash Paid During the Period For:
Income taxes	4,746	14,174	3,801
Interest	218	1,007	888
Non-Cash Investing Activities:
Change in capital expenditures in accounts payable	$ (79)	$ (422)	$ 171

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 28, 2026	Jun. 29, 2025
Current Assets:
Cash and cash equivalents	$ 108,243	$ 84,579
Receivables, net	99,109	102,061
Inventories:
Finished products	11,775	12,398
Work in process	11,905	11,303
Purchased materials	40,630	41,000
Inventories, net	64,310	64,701
Pre-production costs	6,489	8,657
Value added tax recoverable	10,069	19,389
Income taxes recoverable	2,243	2,465
Other current assets	5,810	8,211
Total current assets	296,273	290,063
Property, plant and equipment:
Land and improvements	6,915	6,582
Buildings and improvements	42,969	39,821
Machinery and equipment	225,548	236,545
Total property, plant and equipment	275,432	282,948
Less: accumulated depreciation	205,587	205,538
Property, plant and equipment, net	69,845	77,410
Deferred income taxes	16,080	19,531
Other noncurrent assets	5,281	4,450
Total assets	387,479	391,454
Current Liabilities:
Accounts payable	54,973	65,824
Accrued payroll and benefits	20,773	22,956
Value added tax payable	7,429	11,933
Income tax payable	197	88
Warranty reserve	6,673	8,900
Other current liabilities	12,186	9,649
Total current liabilities	102,231	119,350
Noncurrent Liabilities:
Borrowings under credit facilities	0	8,000
Post-employment benefits	13,350	13,325
Other noncurrent liabilities	6,401	4,348
Total Liabilities	121,982	145,023
Shareholders' Equity:
Common stock, authorized 18,000,000 shares, $.01 par value, 7,704,994 issued shares at June 28, 2026 and 7,635,883 issued shares at June 29, 2025	77	76
Capital in excess of par value	107,138	103,784
Retained earnings	289,895	269,297
Accumulated other comprehensive loss	(14,143)	(16,113)
Less: treasury stock, at cost (3,727,322 shares at June 28, 2026 and 3,596,549 shares at June 29, 2025)	(144,321)	(135,452)
Total Strattec shareholders' equity	238,646	221,592
Non-controlling interest	26,851	24,839
Total shareholders’ equity	265,497	246,431
Total Liabilities and Shareholders' Equity	$ 387,479	$ 391,454