STRATTEC SECURITY CORP
For the period ended Sep 29, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 29, 2024 · Filed Nov 7, 2024
STRT$61.02-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In Thousands)
| Three Months Ended | ||
|---|---|---|
| September 29,2024 | October 1, 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $3,748 | $4,455 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation | 3,662 | 4,385 |
| Foreign currency transaction gain | (1,005) | (226) |
| Unrealized loss on peso forward contracts | 652 | — |
| Stock-based compensation expense | 188 | 505 |
| Equity loss of joint ventures | — | 265 |
| Loss on settlement of pension obligation | 283 | — |
| Change in operating assets and liabilities: | ||
| Receivables | (3,189) | 2,333 |
| Inventories | (2,145) | (3,770) |
| Other assets | 5,881 | (7,665) |
| Accounts payable and accrued liabilities | 2,998 | (4,054) |
| Other, net | 264 | (100) |
| Net cash provided by (used in) operating activities | 11,337 | (3,872) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Proceeds from sale of interest in joint ventures | — | 2,000 |
| Purchase of property, plant and equipment | (2,073) | (2,920) |
| Net cash used in investing activities | (2,073) | (920) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Borrowings under credit facilities | 3,000 | 2,000 |
| Repayment of borrowings under credit facilities | (3,000) | (2,000) |
| Exercise of stock options and employee stock purchases | 13 | 17 |
| Net cash provided by financing activities | 13 | 17 |
| Foreign currency impact on cash | (284) | (131) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 8,993 | (4,906) |
| CASH AND CASH EQUIVALENTS | ||
| Beginning of period | 25,410 | 20,571 |
| End of period | $34,403 | $15,665 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid during the period for: | ||
| Income taxes | $4,081 | $764 |
| Interest | $280 | $218 |
| Non-cash investing activities: | ||
| Change in capital expenditures in accounts payable | $(506) | $(193) |
The accompanying notes are an integral part of these Condensed Consolidated Statements of Cash Flows.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.