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Strattec Security fiscal Q2 profit climbs 39.8% YOY

Strattec Security Corp. said its normalized net income for the fiscal second quarter ended Dec. 28, 2014, was $1.37 per share, compared with the S&P Capital IQ consensus estimate of $1.56 per share.

EPS rose 35.0% year over year from $1.01.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.9 million, an increase of 39.8% from $3.5 million in the year-earlier period.

The normalized profit margin increased to 4.8% from 4.3% in the year-earlier period.

Total revenue increased 25.2% on an annual basis to $102.0 million from $81.5 million, and total operating expenses increased 25.7% from the prior-year period to $94.0 million from $74.8 million.

Reported net income grew 50.2% year over year to $5.7 million, or $1.58 per share, from $3.8 million, or $1.09 per share.