Skip to main content

Johnson Outdoors reports record full-year revenue and profits

Johnson Outdoors Inc. today announced all-time high revenue and earnings for fiscal 2017, driven in part by new Minn Kota and Humminbird products.

Strong ongoing marketplace momentum of new products in the company's core fishing, diving and camp cook brands drove a 13 percent increase in sales.

Operating profit grew 99 percent and net income rose 160 percent year over year.

Significantly higher sales in fishing led to improved fourth-quarter performance.

"Johnson Outdoors had an exceptional year, driven by unprecedented growth across our flagship Minn Kota and Humminbird fishing brands as demand for the new Ultrex electric cable steer trolling motor, Helix Series fishfinders and new-to-world Mega Imaging sonar technology remained very strong throughout the year,” said Johnson Outdoors chairman and CEO Helen Johnson-Leipold in a statement.

“Conversely, challenging market conditions constrained growth in watercraft recreation and camping brands this year,” she said. “Looking ahead to next year, we expect a slower pace of growth in our fishing business and top-line growth overall.”

Net sales grew 13 percent, to $490.6 million, versus $433.7 million in the previous fiscal year. New products across the company's Minn Kota, Humminbird, ScubaPro and Jetboil brands more than offset lower revenue in watercraft recreation and camping.

New products powered double-digit sales growth in the Minn Kota and Humminbird brands in all key categories, channels and markets.

Operating profit climbed 99 percent, to $45.6 million, versus $22.9 million in the prior fiscal year because of significantly higher sales volume and gross margin percentage improvement in every business unit

Net income for the fiscal year, which ended Sept. 29, expanded to $35.2 million, or $3.51 a diluted share, a 160 percent improvement from $13.5 million, or $1.34 a share, in the previous year.

The company reported a fourth-quarter profit of $600,000, or 6 cents a diluted share, compared with a loss of $2.1 million, or 21 cents a share, in the quarter last year.

Related

1_WHALESACTION

NMMA: Proposed Speed Rule an ‘Existential Threat’ to Industry

The association is calling on every marine brand, employee and boat owner to file public comment by Oct. 31 over a sweeping regulation to protect North Atlantic right whales.

1_AXOPAR

Axopar and Nimbus Renew Agreement

The boatbuilders have entered an agreement whereby Nimbus Group will retain exclusive rights to sell Axopar boats on the Swedish market.

1_IAN

Hurricane Ian Leaves Devastation in Florida

The storm left a wide swath of destruction, heavily impacting marine interests from Tampa Bay to Marco Island.

Norm

Email Is Your Ticket to Holiday Sales

Developing an effective email campaign can bolster sales and help fill winter coffers at your dealership.

1_NMRA

NMRA Presents Annual Awards

Edson CEO Will Keene and ComMar Sales president Tim Conroy were recognized for their contributions to the marine industry.

1_ PULSE.PING.2

DEALERS: Are Interest Rates Impacting Demand?

This month’s Pulse Report survey asks dealers whether interest rate increases are causing a downturn in boat sales. Take the survey here.

1_EPROPULSION

EPropulsion, Mack Boring Partner with Crest

Pontoon builder Crest will use an ePropulsion Navy 3.0 Evo electric outboard motor and an E175 battery for its 2023 Current model.

1_BENETEAU

Beneteau Reports Significant H122 Growth

The company reported that its revenue grew 8.6 percent and income increased by 30 percent during the first half of 2022.