Johnson Outdoors compensates for drop in military sales

Racine-based Johnson Outdoors Inc. reported a fiscal first quarter net loss of $2.9 million, or 30 cents per share, compared with a net loss of $1.2 million, or 13 cents per share, in the same period a year ago.
Among the factors that produced the net loss were non-recurring costs and charges totaling $1.1 million related to restructuring of European operations and an asset write-off associated with the transfer of the company’s historic Old Town Canoe facility to the city of Old Town, Maine.
The company’s announced revenue grew 2 percent to more than $80 million during the quarter, despite a 66-percent drop in year-over-year military tent sales.
"Steady recovery of outdoor recreational markets remains central to continued progress against our strategic plan to ensure sustained profitability. Current economic conditions in key regions present a mixed picture of expectations for outdoor markets the remainder of the year. In North America and Asia, initial indicators are favorable for ongoing recovery, while uncertainty continues throughout Europe, particularly in southern European markets," said Helen Johnson-Leipold, chairman and chief executive officer. "While it is too early to predict how the year will go, our focus remains on sustaining marketplace momentum, gaining additional share and strengthening operations."

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