secwatch.observer — SEC 8-K summary
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Issuer:     STRATTEC SECURITY CORP (STRT)
CIK:        0000933034
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0000950170-24-120707
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

STRATTEC Q1 FY2025 revenue $139.1M, adjusted EPS $0.92; ops cash flow $11.3M
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- Net sales attributable to STRT up 2.7% YoY to $139.1M; adjusted net sales +9.1% excluding prior-year $8M one-time pricing.
- Gross margin 13.6% vs 13.8% (prior-year included 470 bps benefit); adjusted gross margin improved to 13.6% from 9.1%.
- Net income $3.7M ($0.92 diluted EPS) vs $4.2M ($1.05) prior year; adjusted net income $3.7M vs loss of $0.6M.
- Cash from operations $11.3M vs cash used $3.9M in Q1 FY2024; capex $2.1M.
- Added chief people officer and chief commercial officer; evaluating portfolio and operational footprint for profitability.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933034/000095017024120707/0000950170-24-120707-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933034/000095017024120707/strt-20241104.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-120707

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer