Johnson Outdoors (JOUT) ZACKS·2025-02-04 19:10Core Insights - Johnson Outdoors Inc. (JOUT) reported mixed results for Q1 fiscal 2025, with a wider quarterly loss than expected and a decline in year-over-year sales despite surpassing net sales consensus [1][4] Financial Performance - The company incurred a quarterly loss per share of $1.49, exceeding the Zacks Consensus Estimate of a loss of $1.30, compared to earnings of $0.38 in the prior-year quarter [4] - Net sales reached $107.6 million, surpassing the consensus mark of $105 million by 2.8%, but reflecting a 22% decline year over year [4] Segment Analysis - Fishing Segment: Net sales fell 25% year over year to $82.5 million, resulting in an operating loss of $8.3 million compared to an operating profit of $11.5 million in the previous year [5] - Camping & Watercraft Recreation: This segment's net sales decreased to $9.5 million from $10.7 million, with an operating loss of $0.6 million, an improvement from a loss of $1.7 million in the prior year [6] - Diving Segment: Net sales declined by 10% to $15.7 million, with an operating loss of $0.9 million compared to a loss of $0.6 million in the previous year [7] Operating Highlights - Gross profit decreased to $32.2 million from $52.9 million year over year, with gross margin contracting by 820 basis points to 29.9% due to lower sales volumes and unfavorable product mix [8] - Operating expenses were $52.4 million, slightly down from $52.8 million reported a year ago, leading to an operating loss of $20.2 million compared to a profit of $0.05 million in the prior year [9][10] Balance Sheet Overview - As of December 27, 2024, cash and cash equivalents were $95.3 million, down from $145.5 million at the end of fiscal 2024, while inventories decreased to $201.6 million from $209.8 million [11]