Johnson Outdoors Inc.(NASDAQ: JOUT) stock lost over 12.9% on December 8th, 2017 (as of 11:52AM EST; Source: Google finance).
The group’s fourth quarter of 2017 was hurt by the seasonality of the warm-weather outdoor recreational equipment industry, which hurt the overall sales and production of the industry.
Therefore, the group delivered only 22% yoy rise to $91.8 million, despite product demand in Fishing and Diving offset by falling sales in other units. Operating expenses also enhanced against last year’s quarter on the back of restructuring costs in Diving; compensation expenses; health-care costs; and, warranty expense. Operating loss narrowed to ($0.1 million) as compared to the operating loss of ($4.9 million) in the prior year quarter on the back of the rising sales volume and strong margins. Net income reached $0.6 million, or $0.06 per diluted share, from favorably to a net loss of ($2.1 million), or ($0.21) in last year’s fourth quarter.
Johnson Outdoors net sales enhanced 13% yoy to $490.6 million against $433.7 million in the pcp. The group’s new products delivered a double-digit sales growth in Minn Kota and Humminbird brands in major categories, channels and markets. The group’s major Old Town ® Predator ™ series of fishing boats was tempered by an overall sluggish kayak market.
Their Operating profit surged 99% to $45.6 million during the fiscal year of 2017 as compared to $22.9 million in the prior corresponding period on the back of rising sales volume and gross margin percentage improvement in every business unit. Johnson Outdoors Net income enhanced to $35.2 million, or $3.51 per diluted share, which is a 160% rise against the net income of $13.5 million, or $1.34 per diluted share, in pcp. They reported a cash and short-term investments of $110.4 million as of September 29, 2017, and has no debt . They controlled Capital spending to $11.6 million in fiscal 2017 from $11.7 million in pcp.
JOUT stock rose over 57% in this year to date despite today’s fall (as on December 8th, 2017 at 11:52AM EST; Source: Google finance).