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Johnson Outdoors Announces Higher Sales And Profits In 2013 First Fiscal Quarter

FINANCIAL TABLES FOLLOW

JOHNSON OUTDOORS INC.
     
(thousands, except per share amounts)    
  THREE MONTHS ENDED
Operating Results December 28 2012 December 30 2011
Net sales  $ 87,274  $ 80,176
Cost of sales  53,460  49,075
Gross profit  33,814  31,101
Operating expenses  32,288  34,820
Operating profit (loss):  1,526  (3,719)
Interest expense, net  418  575
Other expense (income), net  498  (1,192)
Income (loss) before income taxes  610  (3,102)
Income tax expense (benefit)  363  (158)
Net income (loss)  $ 247  $ (2,944)
Weighted average common shares outstanding - Dilutive 9,439 9,807
Net income (loss) per common share - Diluted  $ 0.02  $ (0.30)
Segment Results    
Net sales:    
Marine electronics   $ 53,651  $ 47,771
Outdoor equipment  8,440  6,290
Watercraft   6,814  7,485
Diving  18,483  18,758
Other/eliminations  (114)  (128)
Total  $ 87,274  $ 80,176
Operating profit (loss):    
Marine electronics  $ 4,746  $ 2,073
Outdoor equipment  224  (252)
Watercraft   (1,682)  (2,458)
Diving  702  (98)
Other/eliminations  (2,464)  (2,984)
Total  $ 1,526  $ (3,719)
Balance Sheet Information (End of Period)    
Cash and cash equivalents  $ 47,970  $ 29,096
Accounts receivable, net  62,848  65,561
Inventories, net  77,519  79,015
Total current assets  205,232  188,259
Total assets  300,362  270,725
Short-term debt  31,268  22,759
Total current liabilities  94,870  81,681
Long-term debt  8,196  11,257
Shareholders' equity  174,416  158,300
 
CONTACT: AT JOHNSON OUTDOORS INC.
         DAVID JOHNSON
         VP & CHIEF FINANCIAL OFFICER
         262-631-6600
         
         CYNTHIA GEORGESON
         VP - WORLDWIDE COMMUNICATION
         262-631-6600

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