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Johnson Outdoors Reports Growth In 2nd Quarter Sales And Earnings

Stocks in this article: JOUT

RACINE, Wis., May 3, 2013 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (Nasdaq:JOUT), a leading global outdoor recreation equipment company, today announced higher second quarter and year-to-date revenue and earnings. Sales increased 3 percent to $132.1 million during the second fiscal quarter ended March 29, 2013. Second quarter net income grew 23 percent to $8.9 million, a $1.7 million improvement year-over-year. Fiscal year-to-date revenue grew 5 percent to $219.4 million and net earnings increased 112 percent to $9.2 million during the fiscal first six-months.

"Growth in North America and Northern Europe more than offset declines in challenging markets across Southern Europe this year. Marine Electronics remains our primary growth engine with an 11 percent jump in sales and significant growth in operating profit year-to-date. Exceptional new products generated more than half of Marine Electronic sales, in particular, the Minn Kota ® iPilot ® Link which is exceeding expectations. Equally important, meaningful innovation is driving organic growth in core segments and key channels across all Marine Electronic brands," said Helen Johnson-Leipold, Chairman & CEO. "Ensuring a better balance of profit contribution across Johnson Outdoors' portfolio is a key focus of our new three-year Value Plus strategic plan. Comprehensive efforts are underway to reinvigorate and build momentum in Watercraft and Camping, and deliver innovation in core life-support categories in Diving, against that goal."

Ms. Johnson-Leipold continued: "Disciplined balance sheet management and improved operating flexibility continue to benefit the bottom-line, and while financial results are solid thru the first half of the year, it is still too early to predict full-year performance. Unseasonably cold and wet Spring weather has delayed the retail season in some parts of the country and consumer demand is always the critical determining factor. We feel good about where we are and our ability to adjust accordingly to unpredictable variables and meet our 2015 plan goal of consistently growing profits faster than sales."

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