Johnson Outdoors reports 7 percent increase in Q2 sales

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Humminbird

Johnson Outdoors today reported sales of $177.7 million in its fiscal second quarter, a 7 percent gain compared to $165.8 million a year ago. Net income rose to $177.7 million compared to $165.8 million a year ago.

The company said that its Fishing and Diving businesses contributed to the increase in sales.

Sales in its Fishing division, which includes marine electronics and trolling motors, increased to $138.2 million compared to $125.5 million a year ago. Its diving business was up to 20.1 million compared to $19.4 million a year ago, while the Watercraft Recreation division fell to $9.8 million compared to $10.8 million a year ago, because of a weakness in kayak sales.

In March, the company received an exclusion from Section 301 tariffs for a component for products assembled in the U.S. The company now estimates a reduced impact of Section 301 tariffs on fiscal 2019 profits of $5-7 million.

“Looking ahead, we continue to expect moderate sales growth this fiscal year and will pursue a range of additional Section 301 tariff mitigation efforts with respect to other affected product components with the goal of further reducing their impact on profitability,” said David W. Johnson, vice president and chief financial officer, in a statement.

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