Johnson Outdoors reports strong first quarter
Johnson Outdoors announced higher sales and earnings during the Company’s first fiscal quarter ending Friday, January 1, 2021.
“Strong demand in the company’s fishing, camping and watercraft recreation businesses delivered an unprecedented first fiscal quarter,” said Helen Johnson-Leipold, Chairman and Chief Executive Officer. “Indications are that people’s eagerness to get outdoors will continue through the season, but the COVID-19 pandemic still brings uncertainty. We’re focused on working hard to keep pace with demand and leveraging our market-leading brands and innovation to maximize the heightened interest in outdoor recreation.”
In the first fiscal 2021 quarter, customers looked to replenish inventory levels in anticipation of the fiscal 2021 warm-weather recreation season. As a result, total company net sales in the first quarter rose 29% year over year to $165.7 million, versus $128.1 million in the prior year fiscal quarter. Key contributing factors to the results were:
- Strong demand for new and core technologies across all fishing brands drove a 28% increase in revenue for the segment.
- Watercraft recreation and camping sales also rose significantly due to continued demand across all product categories.
- Diving sales declined 14 % year over year due largely to ongoing pandemic-related global travel restrictions.
Total company operating profit was $23.6 million for the first fiscal quarter versus $6.8 million in the prior year first quarter. The increase was driven primarily by the sales growth year over year. Gross margin increased 3.4 points on higher absorption of fixed costs due to increased sales volume and an improved product mix.
