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.”


A Win for Gulf Reef Fish

The newly authorized DESCEND Act requires anglers to use descending gear when releasing catches in federal Gulf of Mexico waters.

Coast Guard Foundation Names Chairman

Thomas A. Allegretti will lead the non-profit’s board of directors.

In-Person Charleston Show Opens Friday

Under Covid-19 guidelines, the South Carolina boat show has a modified format for the safety of attendees and exhibitors.

Polaris Sees Q4 Surge

The powersports manufacturer had solid gains in every segment, with boat sales up 20 percent.

ABYC Updates Board

The group added a new member and elected several officers, including Nancy Cueroni as chairman.

Quick Hits: January 27, 2021

ICOMIA release its latest state of the industry report; one of the country’s largest waterjet cutting machines goes online at Maine’s Front Street Shipyard; and T-H Marine Supplies names a new national sales and marketing manager.

Changing Currents

E-mobility efforts remain centered outside of the U.S.

Q&A with Martin Bjuve

Volvo Penta of the Americas president and lifelong boater Martin Bjuve.

The Evolving Retail Culture

Finding new ways to connect with boaters.