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Johnson Outdoors Inc. Reports Operating Results (10-K)
Posted by: gurufocus (IP Logged)
Date: December 11, 2012 05:05PM
Johnson Outdoors Inc. (JOUT) filed Annual Report for the period ended 2012-09-28. Johnson Outdoors, Inc. has a market cap of $206.6 million; its shares were traded at around $20.57 with a P/E ratio of 6.4 and P/S ratio of 0.5.
Highlight of Business Operations:Gross profit of $164,322 was 39.9% of net sales on a consolidated basis for the year ended September 28, 2012 compared to $163,135 or 40.0% of net sales in the prior year.
The Company s operating profit was $21,413 in 2012 compared to an operating profit of $17,670 in fiscal 2011. Marine Electronics operating profit increased by $4,156 from the prior year. Outdoor Equipment operating profit declined year over year from $2,996 to $2,831. The Watercraft business incurred an operating loss in 2012 of $408, compared to a loss of $1,351 in the prior year. Diving operating profit increased $2,798 from the prior year.
Net sales in 2011 increased 6.5% to $407,422 compared to $382,432 in 2010. The increase was driven primarily by the success of new products in the Marine Electronics business. Those sales, in addition to favorable foreign currency translations which positively impacted sales by $6,367 in comparison to 2010, more than offset significant declines in sales in the Outdoor Equipment and Watercraft businesses.
Gross profit of $163,135 was 40.0% of net sales on a consolidated basis for the year ended September 30, 2011 compared to $153,523 million or 40.1% of net sales in the prior year. The gross profit increase of $9,612 was primarily attributable to the increase in sales volume during 2011 as compared to 2010.
The Company s operating profit was $17,670 in 2011 compared to an operating profit of $14,554 in fiscal 2010. Marine Electronics operating profit increased by $7,136 from the prior year. Outdoor Equipment operating profit declined to $2,996, half the level of 2010. The Watercraft business incurred an operating loss in 2011 of $1,351, compared to an operating profit of $1,826 in 2010, a decline of $3,177. Diving operating profit increased $580 from the prior year.
Stocks Discussed: JOUT,