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Segment Information
 3 Months Ended
Sep. 28, 2025
Segment Reporting [Abstract]  
Segment Information

NOTE 12. SEGMENT INFORMATION

 

The Company's Chief Operating Decision Maker ("CODM") is the Chief Executive Officer. The CODM assesses the performance and makes capital and resource allocation decisions based on Net income attributable to Strattec.

 

The CODM considers the impact of significant segment expenses on this measure to assess profitability and guide strategic decision making including entering into significant contracts, expanding into new markets or launching new products, making significant capital expenditures, hiring and terminating key personnel and approving operating budgets.

 

Net sales and significant segment expenses are as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

September 28, 2025

 

 

September 29, 2024

 

Net sales

 

$

152,399

 

 

$

139,052

 

Significant expenses:

 

 

 

 

 

 

Direct material costs

 

 

83,888

 

 

 

78,070

 

Labor and overhead costs

 

 

42,176

 

 

 

42,061

 

Selling costs

 

 

2,820

 

 

 

2,611

 

Administrative costs

 

 

6,071

 

 

 

4,540

 

Engineering costs

 

 

6,997

 

 

 

6,707

 

Interest income

 

 

(877

)

 

 

(349

)

Interest expense

 

 

156

 

 

 

295

 

Other income, net

 

 

275

 

 

 

(129

)

Income tax expense

 

 

2,356

 

 

 

1,498

 

Net income

 

 

8,537

 

 

 

3,748

 

Net income attributable to non-controlling interest

 

 

8

 

 

 

45

 

Net income attributable to Strattec

 

$

8,529

 

 

$

3,703

 

Sales by product group were as follows (in thousands):

 

Three Months Ended

 

 

 

September 28,
2025

 

 

September 29,
2024

 

 

Power access solutions

$

38,124

 

 

$

33,342

 

 

Door handles & exterior trim

 

38,645

 

 

 

35,341

 

 

Keys & locksets

 

29,330

 

 

 

23,022

 

 

Latches

 

19,729

 

 

 

19,111

 

 

User interface controls

 

12,846

 

 

 

13,839

 

 

Aftermarket and service

 

10,757

 

 

 

11,548

 

 

Other

 

2,968

 

 

 

2,849

 

 

 

$

152,399

 

 

$

139,052

 

 

 

Sales to and receivables from customers that individually accounted for 10% or more of the Company's total net sales were as follows (in thousands and percent of total):

 

 

 

Three Months Ended

 

 

 

September 28,
2025

 

 

September 29,
2024

 

 

 

Net Sales

 

 

%

 

 

Net Sales

 

 

%

 

General Motors Company

 

$

41,778

 

 

 

27

%

 

$

42,160

 

 

 

30

%

Ford Motor Company

 

 

33,859

 

 

 

22

 

 

 

32,137

 

 

 

23

 

Stellantis

 

 

22,792

 

 

 

15

 

 

 

12,765

 

 

 

9

 

 

 

$

98,429

 

 

 

64

%

 

$

87,062

 

 

 

62

%

 

 

 

 

September 28,
2025

 

 

September 29,
2024

 

 

 

Receivables

 

 

%

 

 

Receivables

 

 

%

 

General Motors Company

 

$

27,080

 

 

 

26

%

 

$

30,959

 

 

 

30

%

Ford Motor Company

 

 

22,293

 

 

 

22

 

 

 

24,866

 

 

 

24

 

Stellantis

 

 

17,049

 

 

 

17

 

 

 

11,062

 

 

 

11

 

 

 

$

66,422

 

 

 

65

%

 

$

66,887

 

 

 

65

%