RACINE, Wis., April 18, 2024 (GLOBE NEWSWIRE) -- JOHNSON OUTDOORS INC. (Nasdaq: JOUT), a leading global innovator of outdoor recreation equipment and technology, will release financial results for the Fiscal 2024 second quarter on Friday, May 3, 2024, before market open that day. The Company will host a conference call and audio webcast shortly afterwards at 11:00 a.m. Eastern Time to discuss the financial results and provide a Company update. A live listen-only webcast of the conference call may be accesse ...

Johnson Outdoor (JOUT) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 153.33%. A quarter ago, it was expected that this outdoor gear company would post a loss of $0.32 per share when it actually produced a loss of $1.56, delivering a surprise of -387.50%.Over the last four quarters, ...

RACINE, Wis., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (NASDAQ:JOUT), a leading global innovator of outdoor recreation equipment and technology, today announced lower sales and decreased earnings results for the Company's first fiscal quarter ending December 29, 2023. "We're facing a tough marketplace with high inventory levels at retail and lower consumer demand resulting in soft first quarter sales. We are taking steps to outperform the challenging marketplace and improve our financial resu ...

PART I FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Q1 FY2024 and Q1 FY2023, along with detailed accounting notes [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Net sales for Q1 FY2024 were $138.6 million, with net income of $4.0 million, both significantly lower than the prior year Consolidated Statements of Operations (Unaudited) | (In thousands, except per share data) | Three Months Ended Dec 29, 2023 | Three Months Ended Dec 30, 2022 | | :--- | :--- | :--- | | **Net sales** | $138,644 | $178,337 | | Gross profit | $52,854 | $62,779 | | Operating profit | $46 | $5,472 | | **Net income** | **$3,955** | **$5,879** | | Net income per common share - Diluted (Class A) | $0.38 | $0.57 | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets were $692.7 million, liabilities $188.8 million, and shareholders' equity $503.9 million as of December 29, 2023, reflecting changes in inventories Key Balance Sheet Items (Unaudited) | (In thousands) | Dec 29, 2023 | Sep 29, 2023 | Dec 30, 2022 | | :--- | :--- | :--- | :--- | | **Total current assets** | $476,224 | $458,656 | $486,524 | | Inventories | $267,321 | $261,474 | $251,525 | | **Total assets** | **$692,683** | **$681,606** | **$689,096** | | Total current liabilities | $104,067 | $104,006 | $117,438 | | **Total liabilities** | **$188,813** | **$181,869** | **$194,875** | | **Total shareholders' equity** | **$503,870** | **$499,737** | **$494,221** | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash used for operating activities increased to $33.7 million, investing activities provided $4.7 million, resulting in a $31.4 million decrease in cash and cash equivalents Cash Flow Summary (Unaudited) | (In thousands) | Three Months Ended Dec 29, 2023 | Three Months Ended Dec 30, 2022 | | :--- | :--- | :--- | | Net cash used for operating activities | $(33,687) | $(17,570) | | Net cash provided by (used for) investing activities | $4,685 | $(6,649) | | Net cash used for financing activities | $(3,588) | $(3,570) | | **Decrease in cash and cash equivalents** | **$(31,393)** | **$(26,381)** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed accounting policy explanations for financial statement line items, including notes on debt status and the exit of the Eureka! brand - The company had **no debt outstanding** as of December 29, 2023, September 29, 2023, or December 30, 2022[72](index=72&type=chunk) - The company has a **$75 million revolving credit facility**, which was amended to extend its expiration to July 15, 2026[73](index=73&type=chunk)[74](index=74&type=chunk) - During the fourth quarter of fiscal 2023, the company approved plans to fully exit the **Eureka! brand** of the Camping segment by liquidating remaining inventory and winding down operations[111](index=111&type=chunk) - The Fishing segment sold a building during the first quarter of fiscal 2024, resulting in a gain of approximately **$1.9 million**[112](index=112&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 FY2024 results, highlighting a **22% decrease in net sales** to $138.6 million due to softening demand, which significantly impacted operating profit despite improved gross margin - Net sales for Q1 FY2024 decreased by **22% to $138.6 million** from $178.3 million in Q1 FY2023, primarily due to softening consumer demand for outdoor recreation products[127](index=127&type=chunk)[133](index=133&type=chunk) - Gross profit margin improved to **38.1%** from 35.2% year-over-year, driven by decreased costs of certain materials and lower inbound freight[141](index=141&type=chunk) - Operating profit fell sharply to **$46 thousand** from $5.47 million in the prior-year quarter, as cost improvements were insufficient to offset the decline in sales volume[129](index=129&type=chunk)[143](index=143&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) First-quarter results show sales declines across most segments: Fishing down **20%**, Camping **49%**, Watercraft Recreation **50%**, and Diving **8%**, despite an improved gross margin Net Sales by Segment (in thousands) | Segment | Q1 FY2024 | Q1 FY2023 | % Change | | :--- | :--- | :--- | :--- | | Fishing | $110,492 | $138,041 | -20.0% | | Camping | $5,913 | $11,613 | -49.1% | | Watercraft Recreation | $4,813 | $9,658 | -50.2% | | Diving | $17,478 | $19,059 | -8.3% | | **Total** | **$138,644** | **$178,337** | **-22.2%** | - The Fishing segment's sales decline was due to customers tightly managing inventory levels in a softened consumer market, contrasting with the prior year's inventory replenishment[136](index=136&type=chunk) - The Camping segment's sales decrease included a **$2.6 million** impact from the previously reported sale of the Military and Commercial Tents product lines[137](index=137&type=chunk) - Other income increased by **$2.8 million**, driven by a **$1.9 million** gain on the sale of a building and a **$1.3 million** increase in net investment gains on deferred compensation plan assets[145](index=145&type=chunk) [Liquidity and Financial Condition](index=27&type=section&id=Liquidity%20and%20Financial%20Condition) The company maintained a debt-free balance sheet with **$109.6 million** in cash and short-term investments, with cash used for operations increasing to **$33.7 million** due to working capital changes - The company had **no debt** and a debt-to-total capitalization ratio of **0%** as of December 29, 2023[150](index=150&type=chunk) - Inventories increased by **$15.8 million** year-over-year to **$267.3 million** due to lower customer replenishment and softening consumer demand, primarily in the Fishing segment[151](index=151&type=chunk) - Cash used for operations increased to **$33.7 million** for the quarter, compared to $17.6 million in the prior year, primarily due to decreased sales volumes and other working capital changes[153](index=153&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No significant changes occurred in the company's market risk exposures, including foreign currency, interest rates, commodity prices, or inflation, during Q1 FY2024 - There have been **no significant changes** to the company's market risk related to foreign currency exchange, interest rates, commodity prices, or inflation in the first quarter of fiscal 2024[163](index=163&type=chunk) [Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the last fiscal quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** at a level of reasonable assurance as of December 29, 2023[164](index=164&type=chunk) - No material changes were made to the company's internal control over financial reporting during the last fiscal quarter[166](index=166&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=29&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings but does not anticipate any material adverse effect on its financial condition or results - The company does not believe any pending litigation will have a **material adverse effect** on its financial condition, results of operations, liquidity, or cash flows[167](index=167&type=chunk) [Risk Factors](index=29&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's most recent Annual Report on Form 10-K - There have been **no material changes** to the risk factors disclosed in the company's most recent Form 10-K[168](index=168&type=chunk) [Exhibits](index=29&type=section&id=Item%206.%20Exhibits) This section indexes exhibits filed with the Form 10-Q, including CEO and CFO certifications and financial data in XBRL format - Exhibits filed with this report include CEO and CFO certifications under Sections 302 and 906 of the Sarbanes-Oxley Act, and financial statements in Inline XBRL format[173](index=173&type=chunk)

Johnson Outdoors Inc. (JOUT) is scheduled to report first-quarter fiscal 2024 results on Feb 2, before market open.In the last reported quarter, the company’s earnings and net sales missed the Zacks Consensus Estimate by 387.5% and 20.4%, respectively. Also, the metrics declined on a year-over-year basis.The Trend in Estimate RevisionFor the quarter to be reported, the Zacks Consensus Estimate for earnings per share remained unchanged at 15 cents in the past seven days. The estimated figure indicates a 73.7 ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Johnson Outdoor (JOUT) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February ...

RACINE, Wis., Jan. 22, 2024 (GLOBE NEWSWIRE) -- JOHNSON OUTDOORS INC. (NASDAQ:JOUT), a leading global innovator of outdoor recreation equipment and technology, will release financial results for the Fiscal 2024 first quarter on Friday, February 2, 2024, before market open that day. The Company will host a conference call and audio webcast shortly afterwards at 11:00 a.m. Eastern Time to discuss the financial results and provide a Company update. A live listen-only webcast of the conference call may be acces ...

RACINE, Wis., Jan. 22, 2024 (GLOBE NEWSWIRE) -- JOHNSON OUTDOORS INC. (Nasdaq: JOUT), a leading global innovator of outdoor recreation equipment and technology, will release financial results for the Fiscal 2024 first quarter on Friday, February 2, 2024, before market open that day. The Company will host a conference call and audio webcast shortly afterwards at 11:00 a.m. Eastern Time to discuss the financial results and provide a Company update. A live listen-only webcast of the conference call may be acce ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 29, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 0-16255 JOHNSON OUTDOORS INC. (Exact name of registrant as specified in its charter) Wisconsin 39-1536083 (State or other jurisdictio ...

$743.4 Johnson Outdoors is led by Helen Johnson-Leipold, Sam's daughter and the fifth generation of the Johnson family. $66.3 Sam Johnson, Founder STERD INVESTOR PRESENTATION OHNSON SNAPSHOT EMPLOYEES FACILITIES WORLDWIDE MILLION NET SALES (FY2022) Johnson Outdoors was founded more than 50 years ago by Sam Johnson, a spirited adventurer and passionate outdoorsman. Part of the Johnson Family Enterprises: ‒ JOHNSON FINANCIAL GROUP JOUT:NASDAQ | 3 ➣ Became Chairman and CEO in 1999 WHO WE ARE Our passion for th ...