CONSOLIDATED STATEMENTS OF INCOME (IN THOUSANDS) 2001 STRATTEC Annual Report 13 Fiscal Years Ended July 1, 2001 July 2, 2000 June 27, 1999 NET SALES $202,973 $224,817 $202,625 Cost of goods sold 162,735 175,459 155,821 GROSS PROFIT 40,238 49,358 46,804 Engineering, selling and  administrative expenses 19,676 20,254 20,191 INCOME FROM OPERATIONS 20,562 29,104 26,613 Interest income 628 1,056 1,132 Interest expense - - - Other income (expense), net (514) 189 (239) INCOME BEFORE PROVISION FOR INCOME TAXES 20,676 30,349 27,506 Provision for income taxes 7,650 11,836 10,491 NET INCOME $13,026 $18,513 $17,015 EARNINGS PER SHARE: BASIC $3.02 $3.75 $3.02 DILUTED $2.96 $3.65 $2.94 The accompanying notes are an integral part of these consolidated statements.