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Johnson Outdoors Reports Growth In 2nd Quarter Sales And Earnings

FINANCIAL TABLES FOLLOW

JOHNSON OUTDOORS INC.
         
(thousands, except per share amounts)        
  THREE MONTHS ENDED SIX MONTHS ENDED
Operating Results March 29 2013 March 30 2012 March 29 2013 March 30 2012
Net sales  $ 132,100  $ 128,726  $ 219,374  $ 208,902
Cost of sales  78,016  78,199  131,476  127,274
Gross profit  54,084  50,527  87,898  81,628
Operating expenses  41,446  36,546  73,734  71,366
Operating profit:  12,638  13,981  14,164  10,262
Interest expense, net  453  807  871  1,382
Other expense (income), net  (878)  (104)  (380)  (1,296)
Income before income taxes  13,063  13,278  13,673  10,176
Income tax expense  4,126  5,995  4,489  5,837
Net income  $ 8,937  $ 7,283  $ 9,184  $ 4,339
Weighted average common shares outstanding - Dilutive  9,546  9,382  9,491  9,363
Net income per common share - Diluted  $ 0.90  $ 0.74  $ 0.93  $ 0.44
Segment Results        
Net sales:        
Marine electronics   $ 87,778  $ 80,256  $ 141,429  $ 128,027
Outdoor equipment  10,096  9,437  18,536  15,727
Watercraft   13,754  17,060  20,568  24,545
Diving  20,815  22,098  39,298  40,856
Other/eliminations  (343)  (125)  (457)  (253)
Total  $ 132,100  $ 128,726  $ 219,374  $ 208,902
Operating profit (loss):        
Marine electronics  $ 15,594  $ 12,317  $ 20,340  $ 14,390
Outdoor equipment  (268)  831  (44)  579
Watercraft   (542)  3,061  (2,224)  603
Diving  1,379  1,706  2,081  1,608
Other/eliminations  (3,525)  (3,934)  (5,989)  (6,918)
Total  $ 12,638  $ 13,981  $ 14,164  $ 10,262
Balance Sheet Information (End of Period)        
Cash and cash equivalents      $ 40,392  $ 29,649
Accounts receivable, net      109,176  111,357
Inventories, net      85,192  79,304
Total current assets      248,024  233,808
Total assets      346,175  312,880
Short-term debt      52,542  42,867
Total current liabilities      132,532  115,247
Long-term debt      8,057  8,604
Shareholders' equity      180,365  168,428
         
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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