MILWAUKEE, Jan. 23, 2014 (GLOBE NEWSWIRE) -- STRATTEC SECURITY CORPORATION (Nasdaq:STRT) ("STRATTEC" or the "Company") today reported operating results for the fiscal second quarter ended December 29, 2013.
Net sales for the Company's second quarter ended December 29, 2013 were $81.5 million, compared to net sales of $72.2 million for the second quarter ended December 30, 2012. Net income for the current quarterly period was $3.9 million, compared to net income of $2.4 million in the prior year quarter. Diluted earnings per share for the current quarterly period were $1.09 compared to diluted earnings per share of $.70 during the prior year quarter.
For the six months ended December 29, 2013, net sales were $161.1 million compared to net sales of $143.1 million during the prior year six month period. Net income during the current year six month period was $7.1 million compared to net income of $5.1 million during the prior year six month period. Diluted earnings per share were $2.00 for the current year six month period ended December 29, 2013 compared to diluted earnings per share of $1.48 for the prior year six month period ended December 30, 2012.Net sales to each of our customers or customer groups in the current year quarter and prior year quarter were as follows (in millions):
|Three Months Ended|
|December 29, 2013||December 30, 2012|
|Chrysler Group LLC||$ 28.7||$ 23.0|
|General Motors Company||16.0||13.5|
|Ford Motor Company||11.3||10.5|
|Tier 1 Customers||15.2||15.0|
|Commercial and Other OEM Customers||8.6||7.7|
|Hyundai / Kia||1.7||2.5|
|TOTAL||$ 81.5||$ 72.2|
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