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Strattec Security Corp  (STRT)
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Strattec Security's Customers Performance

STRT

 
STRT's Source of Revenues Customers of Strattec Security Corp saw their costs of revenue decrease by -8.7 % in Q1 compare to a year ago, sequentially costs of revenue were trimmed by -15.4 %, for the same period Strattec Security Corp

List of STRT Customers




Customers of Strattec Security Corp saw their costs of revenue decrease by -8.7 % in Q1 compare to a year ago, sequentially costs of revenue were trimmed by -15.4 %, for the same period Strattec Security Corp

List of STRT Customers


   
Customers Net Income grew in Q1 by Customers Net margin grew to
26.13 % 3.64 %



Strattec Security's Customers, Q1 2019 Revenue Growth By Industry
Customers in Construction & Mining Machinery Industry -4.67 %   
Customers in Auto & Truck Manufacturers Industry -1.89 %   
Customers in Auto & Truck Parts Industry      7.87 %
Customers in Internet Services & Social Media Industry      5.58 %
Customers in Software & Programming Industry -7.39 %   
Customers in Automotive Aftermarket Industry      1.45 %
     
• Customers Valuation • Segment Rev. Growth • Segment Inc. Growth • Customers Mgmt. Effect.


Strattec Security's Comment on Sales, Marketing and Customers



A very significant portion of the Company’s annual sales are to General Motors Company, Ford Motor Company, and Fiat Chrysler Automobiles.

The Company provides its customers with engineered access control products including locksets, fobs, push button ignition systems, steering column lock housings, seatback and secondary latches, power sliding door systems, power liftgate systems, power decklids, door handles, door handle components and trim and other access products which are unique to specific vehicles. Any given vehicle will typically take 1 to 3 years of development and engineering design time prior to being offered to the public. The access control products are designed concurrently with the vehicle. Therefore, commitment to the Company as the production source for such products and components occurs 1 to 3 years prior to the start of production for such components. The Company employs an engineering staff that assists in providing design and technical solutions to its customers. The Company believes that its engineering expertise is a competitive advantage and contributes toward its strong market position in its industry. For example, the Company believes it regularly provides innovative design proposals for its product offerings to its customers that will improve customer access, vehicle security system quality, theft deterrence and system cost.


The typical process used by automotive manufacturers in selecting a supplier for access control products is to offer the business opportunity to the Company and several of the Company's competitors. Each competitor will pursue the opportunity, doing its best to provide the customer with the most attractive proposal. Price pressure is strong during this process but once an agreement is reached, a commitment is made for each year of the product program. Typically, price reductions resulting from productivity improvement by the Company over the life of the product program are included in the contract and are estimated in evaluating each of these opportunities by the Company. A blanket purchase order, a contract indicating a specified part will be supplied at a specified price during a defined time period, is issued by customers for each model year. Production quantity releases or quantity commitments are made to that purchase order for weekly deliveries to the customer. As a consequence and because the Company is a "Just-in-Time" supplier to the automotive industry, it does not maintain a backlog of orders in the classic sense for future production and shipment and, accordingly, it is unable to provide a meaningful backlog comparison from year to year.


Strattec Security's Comment on Sales, Marketing and Customers


A very significant portion of the Company’s annual sales are to General Motors Company, Ford Motor Company, and Fiat Chrysler Automobiles.

The Company provides its customers with engineered access control products including locksets, fobs, push button ignition systems, steering column lock housings, seatback and secondary latches, power sliding door systems, power liftgate systems, power decklids, door handles, door handle components and trim and other access products which are unique to specific vehicles. Any given vehicle will typically take 1 to 3 years of development and engineering design time prior to being offered to the public. The access control products are designed concurrently with the vehicle. Therefore, commitment to the Company as the production source for such products and components occurs 1 to 3 years prior to the start of production for such components. The Company employs an engineering staff that assists in providing design and technical solutions to its customers. The Company believes that its engineering expertise is a competitive advantage and contributes toward its strong market position in its industry. For example, the Company believes it regularly provides innovative design proposals for its product offerings to its customers that will improve customer access, vehicle security system quality, theft deterrence and system cost.


The typical process used by automotive manufacturers in selecting a supplier for access control products is to offer the business opportunity to the Company and several of the Company's competitors. Each competitor will pursue the opportunity, doing its best to provide the customer with the most attractive proposal. Price pressure is strong during this process but once an agreement is reached, a commitment is made for each year of the product program. Typically, price reductions resulting from productivity improvement by the Company over the life of the product program are included in the contract and are estimated in evaluating each of these opportunities by the Company. A blanket purchase order, a contract indicating a specified part will be supplied at a specified price during a defined time period, is issued by customers for each model year. Production quantity releases or quantity commitments are made to that purchase order for weekly deliveries to the customer. As a consequence and because the Company is a "Just-in-Time" supplier to the automotive industry, it does not maintain a backlog of orders in the classic sense for future production and shipment and, accordingly, it is unable to provide a meaningful backlog comparison from year to year.








STRT's vs. Customers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME TICKER MARKET CAP REVENUES INCOME EMPLOYEES
Strattec Security Corp STRT 93 431 14 3,877
Ford Motor Co F 38,845 158,721 3,133 187,000
General Motors Company GM 50,432 148,965 14,458 216,000
Paccar Inc PCAR 23,882 29,649 1,877 23,000
Tesla, Inc. TSLA 32,977 22,594 -946 10,161
Autonation, Inc. AN 3,593 21,413 396 24,000
Autozone Inc AZO 27,459 11,311 1,413 81,000
Genuine Parts Co GPC 14,463 18,886 794 39,000
Carmax Inc KMX 13,047 18,173 842 22,064
O Reilly Automotive Inc ORLY 29,090 9,664 1,341 62,533
Cnh Industrial N.v. CNHI 11,565 50,894 2,002 69,207
Union Bridge Holdings Ltd. CSST 0 0 0 1
Dorman Products, Inc. DORM 2,680 990 126 1,846
Motorcar Parts America Inc MPAA 366 442 1 2,663
Standard Motor Products, Inc. SMP 1,040 1,114 47 3,400
Workhorse Group Inc. AMPD 0 0 0 13
Blue Bird Corp BLBD 483 1,012 35 1,762
Federal Signal Corp FSS 1,481 1,114 99 2,200
Navistar International Corp NAV 3,084 10,250 368 14,400
Emav Holdings, Inc. RVNW 0 0 0 1
Oshkosh Corp OSK 5,341 8,026 542 13,300
Saleen Automotive, Inc. SLNN 0 0 -5 22
Spartan Motors Inc SPAR 310 817 15 1,900
Toyota Motor Corp TM 355,030 267,580 23,554 348,877
Zap ZAAP 5 11 -34 400
Fenix Parts, Inc. FENX 8 133 -41 651
Honda Motor Co Ltd HMC 45,562 90,144 3,583 0
Cleartronic, Inc. CLRI 3 1 -1 8
Autoweb, Inc. ABTL 99 139 -66 228
Truecar, Inc. TRUE 671 358 -34 686
SUBTOTAL 661,515 872,401 53,499 1,126,323


             
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