v3.26.1
Segment Information
 12 Months Ended
Jun. 28, 2026
Segment Reporting [Abstract]  
Segment Information

NOTE 14. SEGMENT INFORMATION

The Company operates within the automotive industry, offering a range of closely related products with shared production processes, distribution channels, and customers. These business activities are managed collectively, and the Company is organized and operates as a single business unit. As such, the Company has one reportable segment. The financial results for this reportable segment are equal to consolidated results as reported in the accompanying consolidated statements of income and comprehensive income and consolidated balance sheets.

Financial results, forecasts and budget to actual variances for the Company's reportable segment are provided to and regularly reviewed by the Chief Operating Decision Maker ("CODM"), which is the Company's Chief Executive Officer. The primary measure of segment profit or loss that the CODM uses to evaluate performance and allocate resources is 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.

The significant expenses that are regularly provided to the CODM are disclosed in the consolidated statements of income as a part of Net income attributable to Strattec and were as follows (in thousands):

 

 

Years Ended

 

 

 

June 28, 2026

 

 

June 29, 2025

 

 

June 30, 2024

 

Net sales

 

$

579,392

 

 

$

565,066

 

 

$

537,766

 

 

 

 

 

 

 

 

 

 

 

Direct material costs

 

 

318,628

 

 

 

315,320

 

 

 

301,660

 

Labor and overhead costs

 

 

165,399

 

 

 

165,169

 

 

 

170,638

 

Selling costs

 

 

10,843

 

 

 

10,691

 

 

 

9,267

 

Administrative costs

 

 

31,294

 

 

 

23,888

 

 

 

15,487

 

Engineering costs

 

 

26,705

 

 

 

27,214

 

 

 

22,900

 

Interest income

 

 

(3,500

)

 

 

(2,039

)

 

 

(572

)

Interest expense

 

 

359

 

 

 

1,007

 

 

 

900

 

Other income, net

 

 

(3,298

)

 

 

(820

)

 

 

(2,717

)

Income tax expense

 

 

11,339

 

 

 

5,717

 

 

 

3,775

 

Net income

 

 

21,623

 

 

 

18,919

 

 

 

16,428

 

Net income attributable to non-controlling interest

 

 

1,025

 

 

 

234

 

 

 

115

 

Net income attributable to Strattec

 

$

20,598

 

 

$

18,685

 

 

$

16,313

 

 

Sales and net tangible long-lived assets (property, plant and equipment, net and right-of-use assets) are presented by country; sales are attributed based on the location to which products were shipped (in thousands):

 

Net Sales

 

 

Tangible Long-Lived Assets

 

 

Years Ended

 

 

As of

 

 

June 28, 2026

 

 

June 29, 2025

 

 

June 30, 2024

 

 

June 28, 2026

 

 

June 29, 2025

 

United States

$

387,046

 

 

$

381,405

 

 

$

382,386

 

 

$

24,142

 

 

$

26,186

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mexico

$

58,967

 

 

$

52,845

 

 

$

42,979

 

 

$

47,443

 

 

$

53,633

 

Canada

 

69,443

 

 

 

59,717

 

 

 

57,061

 

 

 

43

 

 

 

20

 

Korea

 

50,610

 

 

 

56,855

 

 

 

44,735

 

 

 

-

 

 

 

9

 

Other

 

13,326

 

 

 

14,244

 

 

 

10,605

 

 

 

388

 

 

 

504

 

 

$

579,392

 

 

$

565,066

 

 

$

537,766

 

 

$

72,016

 

 

$

80,352

 

Sales by product group were as follows (in thousands and percent of total net sales):

 

 

Years Ended

 

 

June 28, 2026

 

June 29, 2025

 

June 30, 2024

 

 

Net Sales

 

 

%

 

Net Sales

 

 

%

 

Net Sales

 

 

%

Door handles & exterior trim

 

$

147,317

 

 

25%

 

$

140,554

 

 

25%

 

$

135,355

 

 

25%

Power access solutions

 

 

141,077

 

 

24%

 

 

138,402

 

 

24%

 

 

126,680

 

 

24%

Keys & locksets

 

 

118,659

 

 

21%

 

 

99,788

 

 

18%

 

 

106,374

 

 

20%

Latches

 

 

71,684

 

 

12%

 

 

75,359

 

 

13%

 

 

67,844

 

 

13%

User interface controls

 

 

49,675

 

 

9%

 

 

53,405

 

 

9%

 

 

47,637

 

 

9%

Aftermarket and service

 

 

40,121

 

 

7%

 

 

46,703

 

 

8%

 

 

42,732

 

 

8%

Other

 

 

10,859

 

 

2%

 

 

10,855

 

 

2%

 

 

11,144

 

 

2%

 

 

$

579,392

 

 

100%

 

$

565,066

 

 

100%

 

$

537,766

 

 

100%

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):

 

 

Years Ended

 

 

June 28, 2026

 

June 29, 2025

 

June 30, 2024

 

 

Net Sales

 

 

%

 

Net Sales

 

 

%

 

Net Sales

 

 

%

General Motors Company

 

$

158,712

 

 

27%

 

$

165,701

 

 

29%

 

$

163,097

 

 

30%

Ford Motor Company

 

 

120,555

 

 

21%

 

 

129,193

 

 

23%

 

 

114,937

 

 

21%

Stellantis

 

 

94,226

 

 

16%

 

 

65,821

 

 

12%

 

 

77,665

 

 

14%

 

 

$

373,493

 

 

64%

 

$

360,715

 

 

64%

 

$

355,699

 

 

66%

 

 

 

Years Ended

 

 

June 28, 2026

 

June 29, 2025

 

 

Receivables

 

 

%

 

Receivables

 

 

%

General Motors Company

 

$

24,144

 

 

24%

 

$

26,581

 

 

26%

Ford Motor Company

 

 

18,355

 

 

19%

 

 

19,916

 

 

20%

Stellantis

 

 

17,087

 

 

17%

 

 

14,812

 

 

15%

 

 

$

59,586

 

 

60%

 

$

61,309

 

 

60%