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Stock impact report

STRATTEC SECURITY CORPORATION Reports Fiscal 2019 Second Quarter Operating Results and Pension Settlement Charge

STRATTEC SECURITY CORPORATION (STRT) 
Last strattec security corporation earnings: 4/23 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: strattec.com/investors
Company Research Source: GlobeNewswire
MILWAUKEE, Jan. 24, 2019 (GLOBE NEWSWIRE) -- STRATTEC SECURITY CORPORATION (NASDAQ:STRT) today reported operating results for the fiscal second quarter ended December 30, 2018 and a $32.4 million non-cash pre-tax pension settlement charge that reduced diluted earnings per share in the current year quarter by $6.67. Without the charge adjusted diluted earnings per share in the current year quarter would have been $0.71. Net sales for the Company’s fiscal second quarter ended December 30, 2018 were $112.9 million, compared to net sales of $103.2 million for the prior year quarter ended December 31, 2017.  Net loss for the current year quarter was $22.2 million, compared to net income of $2.9 million in the prior year quarter.  Diluted loss per share for the current year quarter was $5.96 compared to diluted earnings per share of $0.78 in the prior year quarter. During the current year quarter, the Company completed a substantial portion of terminating the STRATTEC Pension Plan that Show less Read more
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