Johnson Outdoors (US:JOUT)2025-02-03 11:30Financial Performance - Total Company net sales in the first fiscal quarter declined 22% to $107.6 million compared to $138.6 million in the prior year first fiscal quarter [4]. - Total Company operating loss was $(20.2) million for the first fiscal quarter, a significant decline from an operating profit of $0.05 million in the prior year [5]. - Net loss was $(15.3) million, or $(1.49) per diluted share, compared to net income of $4.0 million, or $0.38 per diluted share in the previous year's first quarter [6]. - Gross margin decreased to 29.9% from 38.1% in the prior year quarter, primarily due to unfavorable overhead absorption and increased promotional pricing [5]. Revenue Breakdown - Fishing revenue decreased 25% to $82.5 million, while Camping & Watercraft Recreation sales were down 12% to $9.5 million [9]. - Diving sales decreased 10% to $15.7 million, driven by softening market demand across all geographic regions [9]. Cash and Investments - Cash and short-term investments totaled $101.6 million as of December 27, 2024, down from $109.6 million in the prior year [7]. Operating Expenses and Tax - Operating expenses were $52.4 million, a slight decrease of $0.4 million from the prior year period [5]. - The effective tax rate was 19.2%, down from 33.0% in the prior year first quarter [6]. Future Plans - The Company plans to expand cost savings initiatives and improve inventory management to mitigate profit losses [8].