Equity Earnings of Joint Ventures (Tables)

3 Months Ended

Sep. 30, 2018

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

	Three Months Ended
	September 30, 2018		October 1, 2017
Net Sales	$	40,056	$	38,510
Cost of Goods Sold		31,102		29,013
Gross Profit		8,954		9,497
Engineering, Selling and Administrative Expenses		6,150		6,021
Income From Operations		2,804		3,476
Other Income, net		397		150
Income before Provision for Income Taxes		3,201		3,626
Provision for Income Taxes		467		522
Net Income	$	2,734	$	3,104
STRATTEC’s Share of VAST LLC Net Income	$	911	$	1,035
Intercompany Profit Elimination		4		—
STRATTEC’s Equity Earnings of VAST LLC	$	915	$	1,035

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

	Three Months Ended
	September 30, 2018			October 1, 2017
Net Sales	$	6		$	108
Cost of Goods Sold		(3	)		152
Gross Margin (Loss)		9			(44	)
Engineering, Selling and Administrative Expenses		15			(10	)
Loss From Operations		(6	)		(34	)
Other Expense, net		—			(65	)
Net Loss	$	(6	)	$	(99	)
STRATTEC’s Equity Loss of SAL LLC	$	(6	)	$	(9	)

The following table summarizes these related party transactions with VAST LLC and SAL LLC for the periods indicated below (in thousands):

	Three Months Ended
	September 30, 2018		October 1, 2017
Sales to VAST LLC	$	498	$	596
Sales to SAL LLC	$	—	$	35
Purchases from VAST LLC	$	42	$	45
Expenses Charged to VAST LLC	$	345	$	212
Expenses Charged from VAST LLC	$	207	$	218