Johnson Outdoors reports higher sales and earnings
Outdoor recreation equipment and technology company Johnson Outdoors announced higher revenue and earnings for the 2020 fiscal year.
High demand for products in fishing, camping and watercraft recreation extended into the industry’s seasonally slow fiscal fourth quarter, driving higher sales and operating profit year-over-year for a strong finish to a challenging year.
“The 2020 fiscal year was like no other year in our history. We started the year with a very strong first quarter, but the onset of the pandemic and the initial stay-at-home mandates cut short our momentum and significantly impacted our second and third quarters, the heart of our primary selling season. As those mandates eased, we saw demand ramp up and participation grow in fishing, camping and watercraft recreation. This positive late-season momentum resulted in a strong finish to the year,” said Helen Johnson-Leipold, Chairman and Chief Executive Officer. “The great outdoors offers the experiences and recreational activities that can rejuvenate the mind, body and spirit, and most importantly, are safe to enjoy. With strict safety procedures and protocols in place, the hard work and dedication of our employees enabled us to respond to robust demand.”
FISCAL 2020 HIGHLIGHTS
- Significant consumer demand in Fishing, Camping and Watercraft Recreation
- Digital and ecommerce leveraged as consumer buying behavior changed
- New products command top industry awards
- Strong cash flow
- Increased quarterly dividend to shareholders
- Organizational agility amid COVID-19 impacts
