Skip to main content

Johnson Outdoors has bumper Q1


Johnson Outdoors Inc. today reported higher sales and net income for its first fiscal quarter ended December 27, 2019. Net sales were up 23 percent to $128.1 million compared to $104.4 million in the same period a year ago. Net income rose to $6.4 million compared to $3.5 million a year ago.

“We’re pleased with such a positive start to the year. Ongoing investments in richer consumer insights, targeted innovation, and accelerated digital sophistication are essential to continue positive momentum,” said Helen Johnson-Leipold, chairman and CEO, in the statement.

A company statement said that “a key contributing factor” to the 26 percent gain included a “delay in Fishing’s new product availability” in the prior-year quarter. Sales in its Fishing category, which includes electronics and trolling motors, rose to $99.2 million for the quarter, compared to $78.8 million a year ago. It also reported an 11 percent increase in Watercraft Recreation sales to $4.8 million. Diving was also up to $16.5 million for the quarter, compared to $15.5 million a year ago.

CFO David Johnson said the first-quarter results were not “predictive” of the full year. “We continue to expect moderate sales growth for the full fiscal year,” he said in the statement. “As a result of recent developments in trade negotiations between the United States and China, as well as our own mitigation efforts, we now expect the impact of tariffs on Chinese goods and components to be approximately $4-5 million on fiscal 2020 profits.”

The company reported cash and short-term investments of $138.3 million as of December 27, 2019. Capital spending totaled $3.3 million in the current quarter compared with $4.1 million in the prior year quarter.

“Our strong balance sheet provides us the financial capacity and flexibility to strategically invest in growing our business while continuing to enhance long-term value for shareholders,” said Johnson. 



Get Out Ahead of E15 Misfueling

With 15 percent ethanol-blended gasoline approved for summer use, “it’s déjà vu all over again.” Meanwhile, MRAA is offering a wealth of resources for dealers to get into the preowned market.


ABC Gets Underway in Washington, D.C.

The American Boating Congress opened yesterday, and NMMA outlined four pieces of legislation that are its top advocacy initiatives.


Beneteau Reports Higher Boat Revenue, Flat Outlook

The builder said boat sales rose in the first quarter, with North American sales outperforming, but it did not change its full-year guidance.


Inflation Decelerates; Core CPI Up

The Labor Department reported that core CPI, which excludes food and energy, increased 0.6 percent in April after rising 0.3 percent in March.


LCI Reports Increased Sales, Profit

The company said net income more than doubled in the first quarter, and sales to marine manufacturers rose 49 percent.


MRAA Proposes ‘BOAT Jobs’ Apprenticeships

The association, backed by 26 marine organizations, is seeking a federal grant to fund the workforce development program.


Nautical Ventures Receives Dealer Recognitions

The retailer recently was recognized as dealer of the year by Axopar Boats, Flite and NautiBuoy Marine.


NMMA Hands Out Leadership Award

Hammond Marine Industry Leadership Award recipient and former Dometic executive Ned Trigg was recognized for his service to the boating industry.