STRATTEC SECURITY CORPORATION Reports Fiscal 2020 Second Quarter Operating Results Including Non-Cash Compensation Expense Charge
STRATTEC SECURITY CORPORATION (STRT)
Last strattec security corporation earnings: 4/23 04:00 pm
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US:NASDAQ Investor Relations:
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Source: GlobeNewswire
MILWAUKEE, Wis., Jan. 23, 2020 (GLOBE NEWSWIRE) -- STRATTEC SECURITY CORPORATION (“STRATTEC” or the “Company”) (NASDAQ:STRT) today reported operating results for the fiscal second quarter ended December 29, 2019. Overview by STRATTEC President and CEO, Frank Krejci “We have experienced several non-cash charges in our last twelve months operating results as a result of terminating the STRATTEC defined benefit pension plan. Those charges are now behind us as of this quarter end on December 29, 2019. The termination of the defined benefit pension plan completes a multi-year effort to reduce significant balance sheet risk and earnings volatility of maintaining this benefit plan relative to the size of our overall Company financial position. We transferred the pension plan assets and our pension payment obligations to an outside insurer without making an additional contribution. During this quarter, we took the final step to complete the full termination of the STRATTEC pension plan.”
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STRT
Earnings
- 2/8/24 - Beat
STRT
Sec Filings
- 3/5/24 - Form 4
- 2/28/24 - Form 4
- 2/26/24 - Form 4
- STRT's page on the SEC website