Strattec Security Corp. Business Report FY2011

Business Highlights

Financial Overview

(in million USD)
  FY2011 FY2010 Rate of Change (%) Factors
Sales 260.9 207.9 25.5 -
Gross profit 42.1 33.0 27.6 -
Income from operations 8.7 4.4 97.7 -
Net income 7.5 3.9 92.3 -

Sales by Customer

-Sales to Chrysler Group LLC in FY2011 were $80.9 million compared to $68.2 million in FY2010.

-Sales to General Motor Company were $63.6 million in FY2011 compared to $51.7 million in FY2010, including $3.0 million of sales to Nexteer Automotive in the current year sales.

-Sales to Ford Motor Company increased to $26.9 million in FY2011 compared to $18.4 in FT2010.

-Sales to Hyundai/Kia were $15.7 million in FY2011 compared to $13.2 in FY2010.


<Model year 2012>

Cars and car based utility vehicles
Aston Martin DB9 Chevrolet Orlando Ford Taurus
Aston Martin DBS Chevrolet Sonic GMC Acadia
Aston Martin Rapide Chevrolet Traverse GMC Terrain
Aston Martin V8 Vantage Chevrolet Volt Holden Commodore
Aston Martin V12 Vantage Chrysler 200 Honda Civic
Buick Enclave Chrysler 300 Hyundai Veracruz
Buick Excelle GM Korea Gentra Jeep Compass
Buick LaCrosse Dodge Avenger Jeep Patriot
Buick Verano Dodge Caliber Lancia Thema
Buick Regal Dodge Challenger Lincoln MKS
Cadillac CTS Dodge Charger Lincoln MKT
Cadillac SRX Dodge Journey Lincoln MKX
Cadillac XTS Fiat Freemont Lincoln MKZ
Chevrolet Aveo Fisker Karma Opel Ampera
Chevrolet Camaro Ford Edge Opel AStra
Chevrolet Corvette Ford Fiesta Opel Astra Van
Chevrolet Cruze Ford Flex Opel Insignia
Chevrolet Equinox Ford Focus Opel Zafira
Chevrolet Impala Ford Fusion Saab 9-4X
Chevrolet Malibu Ford Mustang Saab 9-5


Light Truck, vans and sport utility vehicles
Buick GL8 Dodge Nitro Jeep Grand Cherokee
Cadillac Escalade Dodge Ram CV Jeep Liberty
Cadillac Escalade ESV Dodge Ram Dakota Pickup Jeep Wrangler/Wrangler Unlimited
Cadillac Escalade EXT Dodge Ram 1500/2500/3500 Pickup Kia Sedona
Chevelolet Avalanche Ford Expedition Lancia Grand Voyager
Chevelolet Express Van Ford Explorer Lincoln Mark LT
Chevelolet Silverado Pickup Ford F-Series Pickup Lincoln Navigator
Chevelolet Suburban Ford F-Series Super Duty Nissan Titan
Chevelolet Tahoe Ford Ranger Pickup Volkwagen Routan
Chrysler Town & Country GMC Savana VPG MV-1
Dodge Durango GMC Sierra Pickup
Dodge Grand Caravan GMC Yukon  


R&D Expenditure

(in million USD)
  FY2011 FY2010 FY2009
Overall 1.5 0.9 0.67


R&D Structure

-Research and development activities are centered around research engineering staff called "Advanced Development Group". Projects focus on electronic and mechanical access control products, modularization of related access/security control components and new manufacturing processes to reduce costs for itself and its customers.

-The Company's engineering resources are organized by product type. It has four product groups: Locks and Keys, Latches, Driver Control/Ignition Lock Housings and Electrical.Each group has engineers who design and develop products for specific applications.

Investment Activities

Capital Expenditure

(in million USD)
  FY2011 FY2010
  9.5 6.9

-The Company anticipates capital expenditures will be approximately $7 million to $8 million in fiscal 2012.