Johnson Outdoors Inc. reports developments for a global outdoor recreation equipment business that designs, manufactures and markets products across Watercraft Recreation, Fishing, Diving and Camping. Its brand portfolio includes Old Town canoes and kayaks, Carlisle paddles, Minn Kota trolling motors, shallow water anchors and battery chargers, Cannon downriggers, Humminbird marine electronics and charts, SCUBAPRO dive equipment and Jetboil outdoor cooking systems.
Recurring news themes include fiscal operating results, segment sales trends, product innovation, ecommerce activity, retail and trade conditions, quarterly cash dividends on Class A and Class B shares, and annual shareholder meeting matters.
Johnson Outdoors reported a 8% decline in net sales to $163.1 million for Q2 2020, primarily due to COVID-19 disruptions. Fishing revenue decreased 3% while Diving and Watercraft Recreation revenues fell 29% and 38%, respectively. Despite these drops, year-to-date sales rose 3% to $291.1 million. Operating profit increased 14% to $38.6 million, and net income was $26.8 million or $2.66 per diluted share, up from $25.4 million last year. The company maintains a solid cash position of $131.3 million amid operational challenges.