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.
Contracts
<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
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.