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Strattec Pursues UWB Digital Keys as Margin and Cash Rise

Strattec Security logoStrattec Security
Sig2.97Sen+2.22Env0.00Soc-1.93Gov+0.73

Strattec is developing next-generation digital key fobs using ultra-wideband technology and is engaging automakers earlier in vehicle development. Gross margin rose to 16.5% from 15.0% on pricing and restructuring savings, after a 21% headcount reduction and $9.5 million savings. Electric-vehicle program cancellations and foreign-exchange pressure weighed on results. The company authorized a $40 million share repurchase and expects about $10 million in cash per quarter.

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