Equity (Loss) Earnings of Joint Ventures (Tables)

6 Months Ended

Dec. 27, 2015

VAST LLC

Summarized Statements of Operations

The following are summarized statements of operations for VAST LLC (in thousands):

	Three Months Ended				Six Months Ended
	December 27, 2015		December 28, 2014		December 27, 2015		December 28, 2014
Net Sales.................................	$	31,402	$	35,663	$	57,750	$	66,661
Cost of Goods Sold...........................		25,497		30,469		47,411		56,552
Gross Profit.............................		5,905		5,194		10,339		10,109
Engineering, Selling and Administrative Expenses......		4,491		4,590		8,116		8,788
Income From Operations.....................		1,414		604		2,223		1,321
Other (Expense) Income, net....................	(150)			183	(462)			656
Income before Provision for Income taxes.........		1,264		787		1,761		1,977
Provision for Income Taxes.....................		217		376		311		435
Net Income..............................	$	1,047	$	411	$	1,450	$	1,542
STRATTEC’s Share of VAST LLC Net Income........	$	349	$	137	$	483	$	514
Intercompany Profit Elimination..................	(4)			5	(5)			4
STRATTEC’s Equity Earnings of VAST LLC.........	$	345	$	142	$	478	$	518

SAL, LLC

Summarized Statements of Operations

The following are summarized statements of operations for SAL, LLC (in thousands):

	Three Months Ended						Six Months Ended
	December 27, 2015			December 28, 2014			December 27, 2015			December 28, 2014
Net Sales.................................	$	65		$	—		$	125		$	—
Cost of Goods Sold...........................		40			—			95			—
Gross Profit.............................		25			—			30			—
Engineering, Selling and Administrative Expenses......		358			516			604			880
Loss From Operations.......................		(333	)		(516	)		(574	)		(880	)
Other Expense, net...........................		(10	)		—			(18	)		—
Net Loss..................................	$	(343	)	$	(516	)	$	(592	)	$	(880	)
STRATTEC’s Share of Equity Loss of SAL LLC.......	$	(343	)	$	(263	)	$	(592	)	$	(449	)
Loss on Loan to SAL LLC......................		—			—			(150	)		—
Loss on SAL LLC Credit Facility Guarantee..........		(24	)		—			(51	)		—
STRATTEC’s Equity Loss of SAL LLC.............	$	(367	)	$	(263	)	$	(793	)	$	(449	)

VAST LLC and SAL LLC

Summarize of Related Party Transaction

We have sales of component parts to VAST LLC and SAL LLC, purchases of component parts from VAST LLC, expenses charged to VAST LLC for engineering and accounting services and expenses charged to us from VAST LLC for general headquarters expenses.  The following table summarizes these related party transactions with VAST LLC and SAL LLC for the periods indicated below (in thousands):

	Three Months Ended				Six Months Ended
	December 27, 2015		December 28, 2014		December 27, 2015		December 28, 2014
Sales to VAST LLC..........................	$	72	$	657	$	210	$	771
Sales to SAL, LLC...........................	$	27	$	27	$	44	$	32
Purchases from VAST LLC.....................	$	38	$	41	$	63	$	80
Expenses Charged to VAST LLC.................	$	176	$	245	$	411	$	404
Expenses Charged from VAST LLC...............	$	405	$	457	$	797	$	940