Milwaukee-based Strattec Security Corp. reported fiscal fourth quarter net income of $3.2 million, or 97 cents per share, up from $2.7 million, or 81 cents per share, in the same period a year ago.
The company’s quarterly sales grew to $76.4 million from $74.2 million a year earlier.
Strattec’s sales to Chrysler Group LLC were $25.0 million in the current quarter, up from $22.1 million in the prior year quarter. The company’s sales to General Motors Company were $17.4 million, down from $17.6 million in the prior year quarter. Sales to Ford Motor Company were $9.2 million in the current quarter, up from $8.3 million a year ago. Sales to Hyundai/Kia were $3.3 million, down from $4.0 million a year ago.
For the 52-week fiscal year ended July 1, 2012, Strattec’s net sales were $279.2 million, up from net sales of $260.9 million in the prior year. Net income was $8.8 million, up from $5.4 million in the prior year period, and diluted earnings per share for the current year were $2.64, up from diluted earnings per share of $1.63 in the prior year.
