RACINE, Wis., August 02, 2019 (GLOBE NEWSWIRE) — Johnson Outdoors Inc. (Nasdaq: JOUT), a main international innovator of doors undertaking equipment and technology, nowadays pronounced increased sales for the company’s 2019 third economic area ending June 28, 2019’s’s continued boom drove better sales out throughout the 0.33 region and fiscal 2019 12 months-to-date duration.”””outstanding new product success over the past three years continues electricity growth in Fishing and sets the stage for exciting improvements. At the same time, paintings maintain to bolster performance in Diving.
Camping and Watercraft Recreation are transitioning product traces to capitalize on marketplace evolutions. We experience properly about wherein we are headed,” st” ted Helen Johnson-Leipold, Chairman and Chief Executive Officer. “the “scope of Johnson OOutOutdoors’tfolio and the many possibilities for growth it offers puts us in a strong, specific position in an increasingly aggressive out-of-doors exercise enterprise.”TH”RD QUARTER RESULTS
Fiscal 1/3 region results mirror in-season replenishment orders for the swarCompany’s out-of-doors undertaking merchandise. Total Company internet income expanded 3 percent to $176.3 million compared to $170.8 million within the previous quarter. The key years behind the 12 months-over-yr assessment in every enterprise unit were: Fishing revenue extended by five percent due to the continued achievement of new products in each Minn Kota® and Humminbird®. Growth in Jetboil® helped gasoline higher sales in Camping.
Diving income had been down 3 percent; however, it was flat on a currency-neutral basis instead of the prior year’s length. Wateryear’sRecreation sales declines reflect ongoing weakness in paddleboat markets.
Total Company working profit at some stage in the quarter changed too $28.Zero million as compared to $32.Zero million inside the previous year’s zone. Operatingyr’senses for the 0.33 quarter elevated $4.Three million versus the earlier 12 months’ length due to better income extent-associated price, better horrific debt expense, and expanded advertising aid. Gross margin changed into forty-five .2 percent, versus forty-six. five5 percent inside the previous zone, due in component to $1 — nine million in price lists on Chinese additives. Net profits within the third fiscal zone changed into $22.1 million, or $2.1,9, consistent witha diluted percentage, compared to $23.8 million, or $2.37 in step with diluted proportion, inside the preceding year 0.33 region.
YEAR-TO-DATE RESULTS
Fiscal 2019 year-to-date internet sales grew one percent to $458.Four million as opposed to a net income of $453.1 million within the equal monetary 9-month duration closing year. Total Company working profit turned into $ sixty-one.Nine million compared with $ sixty-five .0 million during the previous economic 12 months’ first nine months, a favorable product blend helped offset the impact of $ 4. Zero million of the price above lists on Chinese components multiplied operating expenses, driving the decline in working profit yr over yr. The boom in running expenses turned into general awful debt and endured investment in advertising sophistication. Net income inside the economic nine-month duration advanced four percent to $ forty-seven.
5 million, or $4.Seventy-two in keeping with diluted percentage, compared with $45.6 million, or $four.54 in line with diluted proportion, inside the identical 9-month period closing 12 months. The year-to-date effective tax fee of 24. Nine percent compared favorably to the previous economic first nine months, which contemplated charges related to the preliminary implementation of the new U.S. Tax Reform Act.
OTHER FINANCIAL INFORMATION
The Company reported coins and short-time period investments of $149.Zero million as of June 288, 2019, as opposed to $129.3 million on June 299, 2018. Depreciation and amortization have been $10.4 million, compared to $nine.Six million throughout the first nine months of the prior monetary. Capital spending totaled $12.0 million for the first nine months of 2019 compared with $14.7 million in the same financial 2018 duration.
“At this time, our”clean cognizance is on finishing the 12 months strong and ensuring our manufacturers are well-placed for the destiny. We remain assured of our potential and plans to force ongoing achievement. Our growing cash and debt-free function permit us to spend money on strategic priorities and other opportunities to reinforce our brands and grow our organizations while continually paying dividends to shareholders,” stated David W. “johnson, Chief Financial Officer.
PRODUCT NEWS
Humminbird® obtained “Best of Electroni” honors on the 20″ ICAST, the world’s”most prestworld’sfishing displaworld, the brand’s new MEGA 3brand’sing™. Showing brands exactly what’s occurring in what she waters, which makes every forged count number, MEGA 360 Imaging is the best sonar choice, providing an excessive-decision 360-diploma view across the boat. Sweeping 125 toes in each route,
MEGA 360 Imaging grants unrivaled detail and coverage, integrated mapping, and custom-designed viewing options so anglers can pick out how their returns seem and dial them in based on their fishing fashion, situations, and what they’re after. They believe that MEGA 360 Imaging complements the capacity for anglers to provide complete use of the trolling motor so that you can use Spot-Lock™ and different important Minn Kota capabilities without restricting the ability to use 360-degree sonar.
Humminbird’s ICE HHumminbird’sPS G3N ALHumminbird’sditionally grabbed the “Best of Ice Fishi”g” honor, a brand ” w category added to”ICAST this yr. Humminbird leads the industry in ice fishing innovation. The ICE HELIX CHIRP GPS G3N ALL-SEASON brings the interesting new feature of AutoChart® Live Ice, which lets ice anglers quickly map and discover humps and drop-offs formerly unknown on remote or unmapped lakes. Combined with Humminbird’s confiHumminbird’sectrum CHHumminbird’sclarity ansonar’sl, AutoChart Lsonar allows ice anglers to be extra without problems discovering productive fishing holes.
WEBCAST
The Company will host a convention call and audio web forged at eleven:00 a.m. Eastern Time on Friday, August 2, 2019. A stay concentrate-mosAugust 02ive netcast of the convention call can be accessed at Johnson Outdoors’ domestiOutdoors’ replay of thOutdoors’n might be to be had for 30 days on the Internet.
ABOUT JOHNSON OUTDOORS INC.
JOHNSON OUTDOORS is a leading worldwide innovator of outside exercise gadgets and technology that inspires more human beings to enjoy the awe of the exceptional outdoors. The enterprise designs manufactures and markets a portfolio of triumphing, purchaser-desired brands in four categories: Watercraft Recreation, Fishing, Diving, and Camping. Johnson Outdoors’ iconic Outdoors’compass Old TOutdoors’es and kayaks; Ocean Kayak™; Carlisle® paddles; Minn Kota® fishing motors, batteries, and anchors; Cannon® downriggers; Humminbird® marine electronics and charts; SCUBAPRO® dive device; Jetboil® out of doors cooking structures; and, Eureka!®camping and hiking gadget.
