STRATTEC Security Corp Reports Net Loss of $6.7 Million for the Year Ended July 2, 2023
Annual Revenue of $492.9 Million
By USInMinutes
Published - Sep 09, 2023, 01:16 AM ET
Last Updated - Sep 09, 2023, 01:16 AM EDT
STRATTEC SECURITY CORP [STRT], a leading provider of security products for the automotive industry, has reported a net loss of $6.7 million for the year ended July 2, 2023. The company's annual revenue reached $492.9 million during the same period.
Financial Performance
Despite the net loss, STRATTEC Security Corp performed well in terms of revenue growth. The company's annual revenue increased by approximately 9% compared to the previous year. However, the net loss of $6.7 million reflects challenges faced by the company in managing its operating expenses.
