May 14, 2019

Johnson OutdoorsOn May 03, 2019 Johnson Outdoors Inc., reported increased sales and earnings during the Company’s 2019 second fiscal quarter ending March 29, 2019, and double-digit growth in net income during the first fiscal six-month period.  

SECOND QUARTER RESULTS   
Sales in the second fiscal quarter reflect shipments to customers in anticipation of the primary retail-selling period for the outdoor recreation industry’s warm-weather products.  Net sales rose 7 percent to $177.7 million in the current fiscal second quarter compared to $165.8 million in the prior year quarter, driven by positive momentum in the Company’s Fishing and Diving groups. Key contributing factors in year-over-year quarterly comparisons in each group were:
• Favorable response to new products propelled a 10.1 percent increase in Fishing revenue.
• Strong performance in North America drove a 3.7 percent increase in Diving sales.  On a currency neutral basis, sales were 7.4 percent higher than the prior year quarter.  
• Watercraft Recreation sales declined due to continued kayak market weakness.  
• Lower sales across tent categories primarily accounted for the unfavorable year-over-year comparison in Camping.
Total Company operating profit in the fiscal second quarter was $27.8 million compared with operating profit of $26.0 million in the previous year quarter.  Gross margin of 44.5 percent was slightly below the prior year quarter due in part to the unfavorable impact of $1.4 million in Section 301 tariffs on Chinese goods and components.  Operating expense during the quarter increased 6.4 percent year-over-year due primarily to higher deferred compensation expense resulting from a $2.0 million upward adjustment in the valuation of the plan’s assets; however, an offsetting gain was reflected in other income/expenses. Net income of $21.9 million, or $2.18 per diluted share, in the fiscal second quarter improved slightly versus the previous fiscal year’s second quarter. 

YEAR-TO-DATE RESULTS
Fiscal 2019 year-to-date net sales of $282.1 million were on par with the record-high fiscal six-month period last year.  Total Company operating profit increased 2.4 percent to $33.8 million compared with the prior fiscal year-to-date period.  Year-to-date gross margin improved to 43.8 percent versus 43.6 percent for the previous fiscal year first six months, despite the negative impact of $2.1 million in Section 301 tariffs.

“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.  “Nonetheless, we continue to benefit from our ongoing focus on improved operational efficiency, enabling us to protect margins and effectively manage working capital. The balance sheet remains strong, and our growing cash position enables us to continue investment against strategic priorities and opportunities to expand our business and growth potential.  We remain confident in our ability and plans to create long-term value and consistently pay dividends to shareholders.”

JOHNSON OUTDOORS is a leading global innovator of outdoor recreation equipment and technologies that inspire more people to experience the awe of the great outdoors. The company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft Recreation, Fishing, Diving and Camping.  Johnson Outdoors' iconic brands include: Old Town® canoes and kayaks; Ocean Kayak™; Carlisle® paddles; Minn Kota® fishing motors, batteries and anchors; Cannon® downriggers; Humminbird® marine electronics and charts; SCUBAPRO® dive equipment; Jetboil® outdoor cooking systems; and, Eureka!®camping and hiking equipment. 

Featured Articles

  • Prev
The Toronto International Boat Show Guide is published by Canadian Yachting Media for Canadian Boat ...
BC’s Quadrant Marine Institute announces their new mobile training cargo trailer!  This ugly ...
As we have now done for several years at the Toronto International Boat Show, members of the ...
Boating Ontario was pleased to support the Association of Marina Industries (AMI) as they brought ...
NMMA Canada is looking to apply for the CanExport Associations grant (formerly the Global ...
The Canadian Yachting team is hard at work updating the cruising guides that everyone loves. ...
The 2019 Boating Ontario Annual Conference, held at the Sheraton on the Falls, was a ...
At this time, there is more money in the system than anyone can imagine. The major Private Equity ...
NMMA has announced its September New Powerboat Registrations Report showing new powerboat ...
For the first time in my career in the boating industry I am getting more and more calls from ...

QUADRANT MARINE INSTITUTE ANNOUNCES NEW MOBILE TRAINING TRAILER!

 

Quadrant Marine's Training TrailerBC’s Quadrant Marine Institute announces their new mobile training cargo trailer! This ugly duckling trailer was given a glamorous make-over and is now ready to take their training on the road.

Quadrant Marine would like to send out BIG THANKS to the sponsors of this trailer project: Delta Marine, Wrap Boats, and Peninsula Signs. Thank you for transforming our trailer and helping us get our training opportunities to new places. We’re excited to be mobile in such style!

Read more about Quadrant Marine's Training Trailer..........................

 

 

Marine Products

  • Prev
The new veratron GO is a GPS/GLONASS/Galileo constellation receiver and antenna in one compact ...
HydroHoist Boat Lifts, a leading manufacturer of marine equipment, has announced their latest ...
Evinrude has announced the industry’s first 150 HP tiller controlled outboard with integrated ...
Whenever humidity combines with a lack of fresh air, there's going to be mold and mildew. Anyone ...
Few things are as frustrating to a boat owner as being becalmed or running out of fuel—or both. If ...
IMTRA, the leading manufacturer and importer of quality solutions and products for the marine, ...
Permatex®, a leading innovator in chemical technology for automotive maintenance and repair, ...
One of the most important boat-ownership tasks is cleaning the bilge. Not only does it reduce ...
Clean lines enhance any boat's appeal, but that smooth look can make it difficult to find spots for ...
Most dock boxes aren't sturdy enough to sit on. Nor are they too comfortable. The Waterside Lounger ...

PERMATEX OFFERS SCRUBS IN-A-BUCKET PROFESSIONAL GRADE SCRUBBING TOWELS

Hand Cleaner TowelPermatex®, a leading innovator in chemical technology for automotive maintenance and repair, offers SCRUBS® In-A-Bucket® professional grade scrubbing towels for use in shops, garages, and around the house. This strong, dual-textured towel thoroughly cleans hands, arms, tools and all types of surfaces without the use of soap or water. SCRUBS cleaning towels can also be used to clean tools and all types of surfaces.

SCRUBS In-A-Bucket were the first pre-moistened, dual textured towels on the market. 

Read more about the Permatex SCRUBS In-A-Bucket............