secwatch.observer — SEC 8-K summary
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Issuer:     STRATTEC SECURITY CORP (STRT)
CIK:        0000933034
Form:       8-K
Filed at:   2022-08-11T23:59:59+00:00
Accession:  0001140361-22-029244
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

STRATTEC reports fiscal Q4 EPS $0.10 vs $0.75; net income drops 86% on cost headwinds
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- Q4 net sales $123.1M (14 weeks) vs $110.1M (13 wks); extra week added ~$7.4M; net income $0.4M vs $2.9M.
- Full-year net sales $452.3M vs $485.3M; diluted EPS $1.80 vs $5.85; gross margin 11.3% vs 13.9%.
- Higher raw material costs hurt gross margin by 340 bps; Mexican min wage increase; VAST China JV shut on COVID restrictions.
- Sales increased at GM, Stellantis, Ford, Tier1; declined at Hyundai/Kia and Commercial/OEM.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933034/000114036122029244/0001140361-22-029244-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933034/000114036122029244/brhc10040629_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-029244

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