Johnson Outdoors ends year on upbeat note
By IBI Magazine
Johnson Outdoors today reported sales of US$75.1m for its fourth quarter ended October 1, 2010. That compares to US$65.3m for the same period a year ago. The company reported a net loss of US$5.8m compared to a loss of US$14.2m a year ago. Its 2010 fiscal year sales were US$382.4m compared to US$356.5m a year ago. It also reported net income of US$6.5m compared to a net loss of US$9.7m a year ago. "We have transformed Johnson Outdoors, taking aggressive, strategic action to enhance competitiveness and profitability now and in the future," said Helen Johnson-Leipold, chairman and CEO in a statement. "We streamlined operations, simplified processes and kept working capital within target levels while investing strategically in innovative new products and programs to strengthen our market-leading positions. Significant improvement in operating efficiency enabled us to grow profits faster than sales, a key objective of our strategic plan." For the fourth quarter, its Marine Electronics division had sales of US$28.3m compared to US$22.1m a year ago. Operating loss for the division was US$2.4m for the quarter, compared to a loss of US$3.7m a year ago. Its Watercraft division had sales of US$12.92m for the quarter, compared to US$11.2m a year ago. Its operating loss for the quarter was US$37,000 compared to US$5.8m a year ago. For the year, Marine Electronics had sales of US$185.4m compared to US$165.3 a year ago. The division also reported an operating profit of US$13.9m compared to a profit of US$9.26m a year ago. Its Watercraft division had year-end sales of US$64.0m compared to US$69.4m a year ago. It reported an operating profit of US$1.8m compared to a loss of US$6.1m a year ago.
(3 December 2010)
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