Johnson Outside posts sturdy quarter as fishing enterprise recovers

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Johnson Outside (NASDAQ:JOUT) reported gross sales rose 18% in Q3 to $196.4M as provide availability within the fishing enterprise began to enhance.

Working revenue declined barely to $13.3M from $13.6M a yr in the past. The corporate’s gross margin charge was down 6 foundation factors from the prior yr quarter due primarily to elevated materials prices and stock reserves. Working bills remained constant yr over yr regardless of larger gross sales volumes due largely to decrease guarantee and unhealthy debt bills. Web revenue for the quarter was $9.7M vs. $6.9M a yr in the past.

For the total yr, JOUT mentioned fishing income declined by 5% pushed primarily by ongoing provide chain disruptions that slowed its skill to finish and ship completed items Tenting income grew 12% on account of larger gross sales in each Jetboil and Eureka product classes. Watercraft recreation gross sales have been up 2% on account of continued excessive demand for the Sportsman line. Diving gross sales rose 14% from the prior fiscal yr, as a number of areas of the world reopened and tourism elevated.

CEO replace: “Our steadiness sheet and wholesome money place proceed to supply us with the pliability and sources essential to spend money on strategic alternatives to strengthen the enterprise, whereas constantly paying dividends to shareholders.”

Shares of JOUT moved up 1.85% in premarket buying and selling following the earnings report.

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