Equity Earnings of Joint Ventures (Tables)

6 Months Ended

Dec. 31, 2017

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

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	)

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