New products power slight 3Q increase for Johnson Outdoors

Racine-based Johnson Outdoors Inc. reported a slight fiscal third quarter net sales increase, from $128.6 million in 2012 to $129.8 million this year.

Net income was $13.7 million, or $1.37 per diluted share, a 52 percent increase over net income of $9.0 million, or $0.91 per diluted share, in the same quarter last year.

Fiscal 2013 year-to-date net sales for the nine-month period were $349.1 million, a 3.5 percent increase over the prior year same period.

“We are reaping the benefits of efforts over the past three years to build a strong foundation for sustained profitable growth in each of our businesses. Clear strategic focus and disciplined execution are key factors in the progress achieved. Investment in innovative products and technologies will be a core driver to continued success,” said Helen Johnson-Leipold, chairman and chief executive officer.

New products generated more than 40 percent of total net sales in the third quarter. The company reported record revenue in Marine Electronics and increase sales in consumer camping. Declines were reported in big tent segments in Outdoor Gear and Diving sales in the Asia region decreased 6 percent. Watercraft sales compared unfavorably to the same period last year due to continued de-emphasis on low margin product lines and lower sales in Europe, where the company is closing its Watercraft operation at the end of the current fiscal year.

Total company operating profit during the quarter was $16.1 million, a 13 percent increase over the prior fiscal year quarter. Operating expenses declined $1.8 million quarter-over-quarter .

Year-to-date results showed growth in Marine Electronics’ and Outdoor Gear brands and declines in the Company’s Watercraft and Diving units. Jetboil added $7.8 million in sales during the year-to-date period. New products across all units delivered nearly half of total company net sales in the current nine-month period.

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