Racine-based Johnson Outdoors today reported a fiscal first quarter net loss of $2.1 million, or 22 cents per share, down from a net income of $247,000, or 2 cents per share, in the first fiscal quarter of 2013.
Revenue was $79.1 million, down from $87.2 million in the same period a year ago.
The company, which manufactures warm weather outdoor recreation equipment, was impacted by a cold winter in the first quarter, traditionally its slowest. Johnson Outdoors also pointed to higher health care costs and higher deferred compensation expenses.
“The outdoor recreational industry is highly seasonal and heavily influenced by weather conditions,” said Helen Johnson-Leipold, chairman and chief executive officer. “Last year, the first quarter benefitted from unusually early new product shipments, particularly in Marine Electronics. This year, we once again have exciting new innovations across the portfolio, with demand strong and growing; however, the early onset of harsh winter conditions during this year’s first quarter has shifted the timing of new product orders and shipments. As always, the battle for consumer discretionary dollars is fierce and challenging, but, at this time, we remain optimistic in our ability to deliver against our 2015 financial targets focused on growing profits faster than sales.”
