Johnson Outdoors Inc - JOUT STOCK NEWS

Johnson Outdoors (Nasdaq:JOUT) has finalized an agreement to sell its Eureka! Military and Commercial Tents product lines to Rekord Group for approximately $13.7 million. The deal, expected to close by March 17, 2023, is conditioned on customary closing processes. Notably, this sale excludes the Eureka! brand name and consumer camping business, which will remain under Johnson Outdoors' operation. The transaction aims to strengthen Johnson's focus on its recreational camping segment. Rekord Group is poised to expand its offerings, benefiting from the acquisition.

Johnson Outdoors Inc. (Nasdaq: JOUT) has announced a quarterly cash dividend of $0.31 per Class A share and $0.2818 per Class B share, approved by its Board of Directors. The dividend is scheduled for payment on April 27, 2023, to shareholders recorded by April 13, 2023. Johnson Outdoors is recognized for its innovative outdoor recreation equipment, including brands like Old Town, Humminbird, and SCUBAPRO. The company emphasizes a commitment to quality and consumer satisfaction across categories such as fishing, diving, and camping.

Johnson Outdoors Inc. (Nasdaq: JOUT) will host its Annual Shareholders Meeting on March 1, 2023, at 8:00 a.m. Central Time. This virtual meeting allows shareholders of record as of December 21, 2022, to participate, vote, and ask questions via a live webcast. Access details and the 16-digit control number are included in the Notice of Annual Meeting. A replay will be available for 30 days post-meeting. Key voting information will be shared in the Proxy Statement mailed on January 9, 2023. Johnson Outdoors is recognized for its diverse portfolio in outdoor recreation equipment, including brands like Old Town, Minn Kota, SCUBAPRO, and Jetboil.

Johnson Outdoors (Nasdaq:JOUT) reported a 16% increase in Q1 net sales to $178.3 million, driven by a 27% rise in Fishing sales. However, the company experienced significant revenue declines in Camping (down 18%) and Watercraft Recreation (down 34%) due to softening post-pandemic demand. Operating profit fell to $5.5 million from $13.8 million last year, with gross margin shrinking to 35.2%. Net income decreased to $5.9 million ($0.57 per diluted share), down from $10.9 million ($1.07 per diluted share). The company maintains a healthy cash position of $103.4 million and remains focused on managing inventory levels and strategic investments amid rising costs.

JOHNSON OUTDOORS (Nasdaq: JOUT) will announce its financial results for the first quarter of Fiscal 2023 on February 3, 2023, before market open. An accompanying conference call and audio webcast will be held at 11:00 a.m. Eastern Time the same day to discuss the results and provide company updates. Investors can access the live call via the company’s homepage, with a replay available for 30 days. Johnson Outdoors is known for its leading outdoor recreation equipment brands, including Old Town, Minn Kota, and SCUBAPRO, emphasizing innovation in Watercraft Recreation, Fishing, Diving, and Camping.

Johnson Outdoors Inc. (Nasdaq:JOUT) announced that director William D. Perez will not seek re-election during the 2023 Annual Shareholder Meeting. CEO Helen Johnson-Leipold praised Perez for his invaluable contributions over the past five years, stating his expertise has strengthened the company. Johnson Outdoors is a key player in outdoor recreation, offering brands across watercraft, fishing, diving, and camping categories.

Johnson Outdoors Inc. (Nasdaq:JOUT) reported a 1% decline in sales to $743.4 million for fiscal 2022, reflecting challenges in the Fishing segment. Operating profit decreased 40% to $66.3 million, and net income fell 47% to $44.5 million. Despite strong demand, Fishing revenue declined by 5% due to supply chain issues. In contrast, Camping saw a 12% increase, while Diving rose by 14%. The fourth-quarter sales improved by 18% to $196.4 million, signaling a recovery in supply chain conditions. The company ended with a debt-free balance sheet and announced a 3% dividend increase.

Johnson Outdoors Inc. (Nasdaq: JOUT) announced a quarterly cash dividend of $0.31 for Class A shares and $0.2818 for Class B shares, approved by its Board of Directors. The dividend is payable on January 26, 2023, to shareholders on record as of January 12, 2023. This decision reflects the company's commitment to returning value to shareholders while maintaining a strong financial position in the outdoor recreation market.

Johnson Outdoors (Nasdaq: JOUT) will release its financial results for the Fiscal 2022 fourth quarter on December 9, 2022, before market open. A conference call will follow at 11:00 a.m. Eastern Time, where the company will discuss the results and provide updates. Johnson Outdoors is recognized for its innovative outdoor recreation equipment and technologies across categories such as Watercraft Recreation, Fishing, Diving, and Camping, with brands like Old Town® and Minn Kota®.