secwatch.observer — SEC 8-K summary
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Issuer:     STRATTEC SECURITY CORP (STRT)
CIK:        0000933034
Form:       8-K
Filed at:   2022-04-21T23:59:59+00:00
Accession:  0001140361-22-015392
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

STRATTEC Q3 FY2022 EPS $0.80 vs $1.15 YoY; sales $115.9M down 5%
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- Net sales $115.9M, down 5% from $121.6M in Q3 FY2021.
- Net income $3.1M vs $4.5M; diluted EPS $0.80 vs $1.15.
- Gross margin fell to 12.6% from 15.3% on higher raw material costs and Mexican minimum wage.
- Customer production shutdowns due to semiconductor chip shortages continued to impact results.
- CEO notes COVID lockdowns in China as new headwind but sees long-term opportunities in EVs and power tailgate products.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933034/000114036122015392/0001140361-22-015392-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933034/000114036122015392/brhc10036558_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-015392

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