| Business Summary | | Strattec
Security
Corp.
provides
its
customers
with
engineered
locksets,
which
are
unique
to
specific
vehicles.
The
locksets
are
designed
concurrently
with
the
vehicle.
Therefore,
commitment
to
the
Company
as
the
production
source
occurs
1
to
3
years
prior
to
the
start
of
production.
The
products
sold
to
customers
are
model
specific,
fitting
only
certain
defined
applications.
Consequently,
the
Company
is
highly
dependent
on
its
major
customers
for
their
business,
and
on
these
customers'
ability
to
produce
and
sell
vehicles
that
utilize
the
Company's
products.
The
Company
has
enjoyed
good
relationships
with
General
Motors
Corporation,
DaimlerChrysler
Corporation,
Ford
Motor
Company,
and
Delphi
Automotive
Corporation
in
the
past,
and
expects
to
do
so
in
the
future. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Strattec
Security
Corp.
designs,
develops,
markets
and
manufactures
mechanical
locks,
electro-mechanical
locks
and
related
products
for
major
automotive
manufacturers.
For
the
fiscal
year
ended
7/1/01,
net
sales
decreased
10%
to
$203.0
million.
Net
income
decreased
30%
to
$13.0
million.
Revenues
suffered
from
the
overall
economic
downturn
in
North
America
and
the
effects
of
delayed
shipments.
Earnings
also
reflect
lower
production
efficiencies
and
costs
due
to
the
Milwaukee
Facility
strike. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Harold Stratton, II, 52 Chairman
and CEO | $603K | $414K | John Cahill, 43 Pres
and COO | 502K | 1.4M | Patrick Hansen, 41 VP,
CFO, Sec. and Treasurer | -- | -- | Michael Elliott, 44 VP
- Global Market Devel. | 221K | 292K | Donald Harrod, 56 VP
- Engineering | 199K | -- | Dollar
amounts are as of 2-July-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|