Johnson Outdoors’ Q1 sales fall

Publish date:

Johnson Outdoors today reported sales of $104.4 million for its first quarter, ended Dec. 28, 2018, down 10 percent compared to the same period a year ago. Net income rose to $3.5 million compared to $200,000 a year ago.

The company said that a shift in new-product releases for its fishing division and an 11 percent decline in diving sales led to the lower results.

“We are building momentum behind an exciting new product lineup, particularly in fishing, as we head into the primary selling period for our warm-weather outdoor products,” said Helen Johnson-Leipold, chairman and CEO, in a statement. “At this time, we continue to anticipate year-over-year revenue growth in fiscal 2019. We believe our brands are well-positioned for marketplace success.”

Cash and short-term investments were up $25.9 million to $104.2 million in the latest quarter, compared to the prior-year period. Capital spending declined to $4.1 million versus $6.5 million in the prior year quarter.

David W. Johnson, chief financial officer, said the company expects “moderate sales growth” for fiscal 2019.

“While we continue working on various tariff mitigation efforts, at this time we are still projecting these to have a potential $6 million to $9 million impact on fiscal 2019 profits,” Johnson said in the statement. “Nonetheless, we continue to benefit from our ongoing efforts to improve operational efficiency, enabling us to strengthen margins and keep working capital in check. The balance sheet remains strong, providing us the financial capacity and flexibility to strategically invest in growing our business.”


G.G. Schmitt Names Business Unit Director

Ross Kennedy joins the Patrick Industries-owned marine hardware manufacturer.

Marine Connection Opens New Complex

The waterfront location in Aventura is the company’s seventh Florida retail and service facility.

Shockwave Unveils New Suspension Module

The S6 module has an integrated height adjustment and can be paired with any seat that has a common bolt pattern.

Industry Mourns Paul Fletcher

Fletcher, who founded Pleasurecraft Marine Engine Co. in 1975, was 77.

New Leadership at Roscioli Yachting Center

OneWater Marine has been named James Brewer managing director of the facility.

PressureMate Introduces On-Board Pressure Washer

The 12-volt system has a patent-pending plunger design that produces 600 psi of pressure.

ABYC Introduces Entry-Level Certification

The Marine Service Technology program now includes a year-end exam to help launch students into marine-industry careers.