Johnson Outdoors announces improved sales
US-based outdoor recreation company, Johnson Outdoors Inc., has announced increased net sales for the fiscal third quarter ended July 1, 2005, driven primarily by the Humminbird brand. Total company net sales reached $122.4 million, the highest reported since 1999, and 1.1% above the comparable 2004 period.
Watercraft posted a strong gain in revenue (7.8%) resulting in its highest sales quarter in two years. Diving sales benefited from favourable currency translation ($0.5 million), and double-digit growth in North American markets. As announced earlier, the company was awarded a new $15.9 million urgent need order for military tents, however, third quarter revenues in Outdoor Equipment do not reflect delivery against this order. The company continues to expect military sales to decline up to 25% in 2005 versus fiscal 2004, as sales in this segment declined 32.5% versus the prior year quarter, and accounted for the majority of the revenue decline in Outdoor Equipment.
Total company operating profit declined $1.9 million in the third quarter versus the same period last year. Humminbird added $1.6 million to operating profit for the three-month quarter versus $0.5 million in the prior year period which reflected only two months of activity.
Year-to-date net sales increased 8.5% versus the same period in 2004.