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

Stocks in this article: JOUT

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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