Johnson Outdoors reported fourth-quarter sales of $91.1 million, down 1 percent compared to the same period a year ago. It reported a net loss of $5.0 million compared to net income of $0.1 million in the year-ago period. The parent of Humminbird, Minn Kota and Cannon said the results were due to the seasonality of the fourth quarter, reflecting industrywide dips in sales.
For the fiscal year, sales were up 11 percent to $544.3 million. Net income was up 16 percent to $40.7 million. CEO Helen Johnson-Leipold said in a statement that “unprecedented growth” in its Fishing segment has created record results for the second year consecutive year because of innovative products. “Our goal is consistent bigger, better new product success like this across our entire brand portfolio,” she said.
The company’s Fishing segment had sales of $391.1 million for fiscal 2018 compared to $328.1 million for the year earlier. Its Watercraft Recreation segment saw sales drop to $36.3 million for the year compared to $48.2 million a year earlier.
Johnson Outdoors forecasts next year’s sales to be higher, but expects a $6.0 to $9.0 million negative impact in its operating profit because of tariffs.