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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-K
 þ
    
    Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934For the fiscal year ended July 3, 2005.
 o
    
    Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 Commission File Number 0-25150
 STRATTEC SECURITY CORPORATION
  Wisconsin
    
    39-1804239(State of Incorporation)
    
    (I.R.S. Employer Identification No.)
 3333 West Good Hope Road, Milwaukee, WI 53209
 (414) 247-3333
  Title of each class
    
    Name of exchange on which registeredN/A
    
    N/A
 Common Stock, $.01 par value
 þ o
 þ
 þ o
    Part of the Form 10-KDocument
    
    into which incorporatedPortions of the Annual Report to Shareholders for the
fiscal year ended July 3, 2005.
    
    I, II, IVPortions of the Proxy Statement dated August 29, 2005, for the
Annual Meeting of Shareholders to be held on October 4, 2005.
    
    III




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TABLE OF CONTENTS  PART IItem 1. BusinessItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Submission of Matters to a Vote of Security HoldersPART IIItem 5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity SecuritiesItem 6. Selected Financial DataItem 7. Managements Discussion and Analysis of Financial Condition and Results of OperationsItem 7A. Quantitative and Qualitative Disclosures About Market RiskItem 8. Financial Statements and Supplementary DataItem 9. Changes In and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresItem 9b. Other InformationPART IIIItem 10. Directors and Executive Officers of the RegistrantItem 11. Executive CompensationItem 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder MattersItem 13. Certain Relationships and Related TransactionsItem 14. Principal Accountant Fees and ServicesPART IVItem 15. Exhibits and Financial Statement SchedulesSIGNATURESEXHIBIT INDEX TO ANNUAL REPORTAnnual ReportConsent of Independent AuditorsConsent of Independent AuditorsCertification of CEOCertification of CFOCertifications    Table of Contents  PROSPECTIVE INFORMATION
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PART I
 
 Item 1. Business
  Emerging Technologies
    Sources and Availability of Raw Materials
  Patents, Trademarks and Other Intellectual Property
    3




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Dependence Upon Significant Customers
    Sales and Marketing
   Competition
  4




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Research and Development
  Customer Tooling
  Environmental Compliance
    Employees
  5




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Available Information
  
 Item 2. Properties
  Location
    
    Type
    
    Sq. Ft.
    
    Owned or LeasedMilwaukee, Wisconsin
    
    Headquarters and General Offices; Component
Manufacturing, Assembly and Service Parts Distribution
    
    
    352,000
    
    
    OwnedJuarez, Chihuahua Mexico
    
    Subsidiary Offices and Assembly
    
    
    97,000
    
    
    OwnedJuarez, Chihuahua Mexico
    
    Subsidiary Offices and Key Finishing Operations
    
    
    62,000
    
    
    LeasedEl Paso, Texas
    
    Finished Goods Warehouse
    
    
    22,800
    
    
    Leased**Troy, Michigan
    
    Sales and Engineering Office for Detroit Customer Area
    
    
    6,000
    
    
    Leased**
 
 **
    
    Leased unit within a complex.  
 Item 3. Legal Proceedings
  
 Item 4. Submission of Matters to a Vote of Security Holders
  
 PART II
 
 Item 5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
  Total
    
    
    Average
    
    
    Total Number
    
    
    Maximum NumberNumber
    
    
    Price
    
    
    Of Shares Purchased
    
    
    Of Shares that MayOf Shares
    
    
    Paid Per
    
    
    As Part of Publicly
    
    
    Yet be PurchasedPeriod
    
    Purchased
    
    
    Share
    
    
    Announced Program
    
    
    Under the ProgramMarch 28, 2005  May 1, 2005
    
    
    27,200
    
    
    $
    51.52
    
    
    
    27,200
    
    
    
    326,803May 2, 2005  May 29, 2005
    
    
    14,900
    
    
    
    51.81
    
    
    
    14,900
    
    
    
    311,903May 30, 2005  July 3, 2005
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total
    
    
    42,100
    
    
    $
    51.62
    
    
    
    42,100
    
    
    
    311,903
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Item 6. Selected Financial Data
  
 Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations
  
 Item 7A. Quantitative and Qualitative Disclosures About Market Risk
  
 Item 8. Financial Statements and Supplementary Data
   
 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure
  
 Item 9A. Controls and Procedures
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Item 9b. Other Information
  
 PART III
 
 Item 10. Directors and Executive Officers of the Registrant
   
 Item 11. Executive Compensation
  
 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters
  Equity Compensation Plan Information
  Number of
    
    
    
    
    
    
    Number ofcommon shares to be
    
    
    
    
    
    
    common sharesissued upon exercise
    
    
    Weighted-average
    
    
    available for futureof outstanding
    
    
    exercise price of
    
    
    issuance underoptions,
    
    
    outstanding options,
    
    
    equityPlan Category
    
    warrants, and rights
    
    
    warrants, and rights
    
    
    compensation plansEquity compensation
plans approved by
shareholders
    
    
    281,860
    
    
    $
    54.80
    
    
    
    247,303Equity compensation
plans not approved
by shareholders
    
    
    
    
    
    
    
    
    
    
    Total
    
    
    281,860
    
    
    $
    54.80
    
    
    
    247,303
 
 Item 13. Certain Relationships and Related Transactions
  
 Item 14. Principal Accountant Fees and Services
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PART IV
 
 Item 15.
Exhibits and Financial Statement Schedules
 (a)
    
    The following documents are filed as part of this report:
 (1)(i)
    
    Financial Statements  The following financial statements of the Company,
included on pages 18 through 35 of the Companys 2005 Annual Report to Shareholders,
are incorporated by reference in Item 8.Reports of Independent Registered Public Accounting FirmConsolidated Balance Sheets  as of July 3, 2005 and June 27, 2004Consolidated Statements of Income  years ended July 3, 2005, June 27, 2004 and June 29, 2003Consolidated Statements of Stockholders Equity  years ended July 3, 2005, June 27,
2004 and June 29, 2003Consolidated Statements of Cash Flows  years ended July 3, 2005, June 27, 2004 and
June 29, 2003Notes to Financial Statements(ii)
    
    The following is included at page10 in this Form 10-K Report.Report of Independent Registered Public Accounting Firm(2)
    
    Financial Statement ScheduleAll schedules have been omitted because they are not applicable or are not required, or
because the required information has been included in the Financial Statements or Notes thereto.(3)
    
    Exhibits. See Exhibit Index beginning on page 12.
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
      
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SIGNATURES
  STRATTEC SECURITY CORPORATIONBy:
    /s/ Harold M. Stratton IIHarold M. Stratton IIChairman, President and Chief Executive Officer   Signature
    
    Title
    
    Date/s/ Harold M. Stratton II
Harold M. Stratton II
    
    Chairman, President, Chief Executive Officer, 
and Director
    
    August 19, 2005/s/ Frank J. Krejci
Frank J. Krejci
    
    Director
    
    August 19, 2005/s/ Michael J. Koss
Michael J. Koss
    
    Director
    
    August 19, 2005/s/ Robert Feitler
Robert Feitler
    
    Director
    
    August 19, 2005/s/ Patrick J. Hansen
Patrick J. Hansen
    
    Vice President, Chief Financial 
Officer,
Secretary and Treasurer
(Principal Financial and
Accounting Officer)
    
    August 19, 2005
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EXHIBIT INDEX TO ANNUAL REPORT
ON FORM 10-K
 Exhibit3.1(2)
    
    Amended and Restated Articles of Incorporation of the
Company
    
    *3.2(9)
    
    By-laws of the Company
    
    *4.1(2)
    
    Rights Agreement between the Company and Firstar Trust
Company, as Rights Agent
    
    *4.2(3)
    
    Revolving Credit Agreement dated as of February 27, 1995 by
and between the Company and M&I Bank, together with
Revolving Credit Note
    
    *4.3(5)
    
    Amendments to Revolving Credit Agreement dated as of
February 27, 1995 by and between the Company and M&I Bank,
together with Revolving Credit Notes
    
    *10.1(7)
    
    Amended STRATTEC SECURITY CORPORATION Stock Incentive Plan
    
    *10.2(4)(5)(6)(7)(9)(10)
    
    Employment Agreements between the Company and the
identified executive officers
    
    *10.3(1)(4)(5)(6)(7)(9)(10)
    
    Change In Control Agreements between the Company
and the identified executive officers
    
    *10.15(8)
    
    Amended STRATTEC SECURITY CORPORATION Economic Value Added
Plan for Executive Officers and Senior Managers
    
    *10.16(7)
    
    Amended STRATTEC SECURITY CORPORATION Economic Value Added
Plan for Non-employee Members of the Board of Directors
    
    *13
    
    Annual Report to Shareholders for the year ended July 3,
200521(8)
    
    Subsidiaries of the Company
    
    *23.1
    
    Consent of Independent Registered Public Accounting Firm
dated August 26, 200523.2
    
    Consent of Independent Registered Public Accounting Firm
dated August 26, 200531.1
    
    Rule 13a-14(a) Certification for Harold M. Stratton II,
Chairman and Chief Executive Officer31.2
    
    Rule 13a-14(a) Certification for Patrick J. Hansen, Chief
Financial Officer32(11)
    
    18 U.S.C. Section 1350 Certifications
  
 (1)
    
    Incorporated by reference from Amendment No. 1 to the Form 10 filed on January 20,
1995.(2)
    
    Incorporated by reference from Amendment No. 2 to the Form 10 filed on February 6,
1995.(3)
    
    Incorporated by reference from the April 2, 1995 Form 10-Q filed on May 17, 1995.(4)
    
    Incorporated by reference from the June 27, 1999 Form 10-K filed on September 17,
1999.(5)
    
    Incorporated by reference from the July 1, 2001 Form 10-K filed on September 4,
2001.(6)
    
    Incorporated by reference from the June 30, 2002 Form 10-K filed on August 28,
2002.(7)
    
    Incorporated by reference from the June 29, 2003 Form 10-K filed on August 28,
2003.(8)
    
     Incorporated by reference from the June 27, 2004 Form 10-K filed on August 27,
2004.(9)
    
    Incorporated by reference from the September 26, 2004
Form 10-Q filed on November 2, 2004.(10)
    
    Incorporated by reference from the March 27, 2005
Form 10-Q filed on April 29, 2005.(11)
    
    This certification is not filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, or incorporated by reference into any filing under the
Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. 12