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Equity Earnings of Joint Ventures (Tables) | 6 Months Ended
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Dec. 31, 2017
VAST LLC |
Summarized Statements of Operations | The following are summarized statements of operations for VAST LLC (in thousands):
| Three Months Ended |  |  | Six Months Ended |  |
| December 31, 2017 |  |  | January 1, 2017 |  |  | December 31, 2017 |  |  | January 1, 2017 |  |
Net Sales | $ | 45,333 |  |  | $ | 34,007 |  |  | $ | 83,843 |  |  | $ | 59,016 |  |
Cost of Goods Sold |  | 35,263 |  |  |  | 27,124 |  |  |  | 64,276 |  |  |  | 47,217 |  |
Gross Profit |  | 10,070 |  |  |  | 6,883 |  |  |  | 19,567 |  |  |  | 11,799 |  |
Engineering, Selling and Administrative Expenses |  | 6,325 |  |  |  | 5,212 |  |  |  | 12,346 |  |  |  | 9,227 |  |
Income From Operations |  | 3,745 |  |  |  | 1,671 |  |  |  | 7,221 |  |  |  | 2,572 |  |
Other Income, net |  | 636 |  |  |  | 730 |  |  |  | 786 |  |  |  | 1,171 |  |
Income before Provision for Income Taxes |  | 4,381 |  |  |  | 2,401 |  |  |  | 8,007 |  |  |  | 3,743 |  |
Provision for Income Taxes |  | 162 |  |  |  | 405 |  |  |  | 684 |  |  |  | 577 |  |
Net Income | $ | 4,219 |  |  | $ | 1,996 |  |  | $ | 7,323 |  |  | $ | 3,166 |  |
STRATTEC’s Share of VAST LLC Net Income | $ | 1,406 |  |  | $ | 665 |  |  | $ | 2,441 |  |  | $ | 1,055 |  |
Intercompany Profit Elimination |  | (2 | ) |  |  | (23 | ) |  |  | (2 | ) |  |  | (23 | ) |
STRATTEC’s Equity Earnings of VAST LLC | $ | 1,404 |  |  | $ | 642 |  |  | $ | 2,439 |  |  | $ | 1,032 |  |
SAL, LLC |
Summarized Statements of Operations | The following are summarized statements of operations for SAL, LLC (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |  |
|  | December 31, 2017 |  |  | January 1, 2017 |  |  | December 31, 2017 |  |  | January 1, 2017 |  |
Net Sales |  | $ | 122 |  |  | $ | 96 |  |  | $ | 230 |  |  | $ | 196 |  |
Cost of Goods Sold |  |  | 259 |  |  |  | 97 |  |  |  | 411 |  |  |  | 184 |  |
Gross (Loss) Profit |  |  | (137 | ) |  |  | (1 | ) |  |  | (181 | ) |  |  | 12 |  |
Engineering, Selling and Administrative Expenses |  |  | (15 | ) |  |  | 369 |  |  |  | (25 | ) |  |  | 706 |  |
Loss From Operations |  |  | (122 | ) |  |  | (370 | ) |  |  | (156 | ) |  |  | (694 | ) |
Other Expense, net |  |  | (64 | ) |  |  | (35 | ) |  |  | (129 | ) |  |  | (47 | ) |
Net Loss |  | $ | (186 | ) |  | $ | (405 | ) |  | $ | (285 | ) |  | $ | (741 | ) |
STRATTEC’s Equity Earnings (Loss) of SAL LLC |  | $ | 69 |  |  | $ | (413 | ) |  | $ | 60 |  |  | $ | (741 | ) |
VAST LLC and SAL LLC |
Summarize of Related Party Transaction | The following table summarizes these related party transactions with VAST LLC and SAL LLC for the periods indicated below (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |  |
|  | December 31, 2017 |  |  | January 1, 2017 |  |  | December 31, 2017 |  |  | January 1, 2017 |  |
Sales to VAST LLC |  | $ | 987 |  |  | $ | 50 |  |  | $ | 1,583 |  |  | $ | 103 |  |
Sales to SAL, LLC |  | $ | 147 |  |  | $ | 52 |  |  | $ | 182 |  |  | $ | 127 |  |
Purchases from VAST LLC |  | $ | 84 |  |  | $ | 71 |  |  | $ | 129 |  |  | $ | 102 |  |
Expenses Charged to VAST LLC |  | $ | 171 |  |  | $ | 226 |  |  | $ | 383 |  |  | $ | 454 |  |
Expenses Charged from VAST LLC |  | $ | 312 |  |  | $ | 349 |  |  | $ | 530 |  |  | $ | 758 |  |

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