Business
STRATTEC SECURITY CORPORATION Generated $9.4 million in Cash from Operations in Fiscal 2025 Second Quarter
Grew revenue $11.4 million to $129.9 million in the quarter as a result of new program launches and increased demand from customers Net income attributable
About this update from Strattec Security Corporation
[{"type":"text","content":"\n\nGrew revenue $11.4 million to $129.9 million in the quarter as a result of new program launches and increased demand from customers \n\n\n\nNet income attributable to STRATTEC Security Corporation was $1.3 million, or diluted EPS of $0.32, compared with $1.0 million, or diluted EPS of $0.26, in the year ago quarter\n\n\n\nAdjusted diluted earnings per share1 were $0.65, compared with $0.36 in the prior year\n\n\n\nGenerated $9.4 million in cash from operations, bringing year-to-date cashflow from operations to $20.8 million\n\n\n\nDelivered adjusted EBITDA1 of $8.0 million, or 6.1% of sales, compared with $5.0 million, or 4.3%, in the prior-year second quarter\n\n\n\nTransformation efforts continue to focus on driving profitability, stronger cash generation and creating a sustainable business model while evaluating market opportunities and future growth plans\n\n\n\n MILWAUKEE--(BUSINESS WIRE)--\nSTRATTEC SECURITY CORPORATION (Nasdaq: STRT) (“Company”), a leading provider of smart vehicle access, security and authorization solutions for the global automotive industry, reported financial results for its second quarter of fiscal year 2025, which ended December 29, 2024.\n\n\nSTRATTEC 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 U.S. manufacturing operations by reducing the number of shifts, which is expected to generate $1.2 million in annualized savings. In addition, we continued to unlock value on our balance sheet as we collected on our tooling investments.”\n\n\nMs. 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 strong...