Publish date:

Johnson Outdoors releases Q1 results

Johnson Outdoors reported higher sales and operating profit during the company's seasonally slow first fiscal quarter, which ended Dec. 29.

Total company net sales in the quarter rose 24 percent to $116.6 million, compared to net sales of $93.7 million in the prior year quarter, which the company attributed in part to a 33 percent increase in fishing segment sales.

"We're pleased by the strong start to the year, particularly preseason performance in fishing and diving, which highlights the importance of our ongoing focus on innovation that delivers bigger, better new product success,” said Johnson Outdoors chairman and CEO Helen Johnson-Leipold in a statement.

New products from Minn Kota and Humminbird helped drive the 33 percent gain in fishing sales, the company said. Growth in new core life-support products spurred a 17 percent rise in diving revenue.

Camping sales were flat for the quarter, and tightened retail inventory levels due to overall kayak market declines led to lower watercraft recreation sales.

“Continued progress in our work to reposition Eureka for the future and taking actions to strengthen efficiency in watercraft recreation are key priorities in the face of very challenging market conditions," Johnson-Leipold said.

Total operating profit for the first fiscal quarter was $7 million, a $6.6 million improvement over the prior year first quarter.

Significantly higher sales volume, and margin expansion due to a favorable mix of new products sold, drove the favorable quarter-to-quarter comparison.

Gross profit gains more than offset the increase in operating expense, driven in part by implementation of the company's digital transformation strategy.

New U.S. tax reform legislation prompted a change in the valuation of deferred tax assets and a one-time transition tax on previously tax-deferred foreign earnings, resulting in a charge of $6.4 million and an unfavorable year-over-year comparison in net income.

The company reported net income of $200,000, or $0.02 per diluted share, versus $4.1 million, or $0.40 per diluted share, in the previous year's quarter. 


‘A Phenomenal Success’

The Southampton International Boat Show had more than 88,000 visitors during its 10-day run, after last year’s cancellation.

TopSide Marinas Makes First Two Acquisitions

Founded in January 2020, the firm has thus far acquired Beavers Bend Marina in Oklahoma and Galveston Yacht Basin in Texas.

Two Boosts for Boating and Fishing

MBIA’s Metro Boat show show draws a crowd, and the U.S. Fish and Wildlife Service expands boating and fishing opportunities.

Norwalk Boat Show Held This Weekend

The NMMA show runs through Sunday at Norwalk Cove Marina in Norwalk, Conn.

Raritan Expands Team

Patrick McNeel joins the New Jersey-based manufacturer as a marine equipment product developer.

Industry Mourns Walter “Bing” Burns O’Meara

The longtime publisher of Lakeland Boating magazine has died at 81.

NMMA Announces Hall of Fame Inductees

Regulator Marine’s Joan Maxwell and Bill Watters of Syntec Industries will be honored at IBEX.

Brunswick Acquires SemahTronix

The supplier of wiring harnesses and other electrical assemblies will be part of Brunswick’s growing Advanced Systems Group.