Strattec Security reports 2Q loss of $22.2 million

Associated Press

Jan. 25, 2019

MILWAUKEE  Strattec Security Corp. (STRT) on Thursday reported a fiscal second-quarter loss of $22.2 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Milwaukee-based company said it had a loss of $5.96. Earnings, adjusted for non-recurring costs, were 71 cents per share. The maker of automotive locks and keys posted revenue of $112.9 million in the period.

Strattec Security shares have increased 28 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $36.75, a drop of 17 percent in the last 12 months.