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Johnson Outdoors Inc. (JOUT) filed Quarterly Report for the period ended 2011-12-30.
Johnson Outdoors Inc. has a market cap of $168.5 million; its shares were traded at around $17.22 with a P/E ratio of 15.6 and P/S ratio of 0.4.
This is the annual revenues and earnings per share of JOUT over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of JOUT.
Highlight of Business Operations:
The Company has significant foreign operations, for which the functional currencies are denominated primarily in euros, Swiss francs, Japanese yen and Canadian dollars. As the values of the currencies of the foreign countries in which the Company has operations increase or decrease relative to the U.S. dollar, the sales, expenses, profits, losses, assets and liabilities of the Company s foreign operations, as reported in the Company s consolidated financial statements, increase or decrease, accordingly. Approximately 25% of the Company s revenues for the three month period ended December 30, 2011 were denominated in currencies other than the U.S. dollar. Approximately 13% were denominated in euros, with the remaining 12% denominated in various other foreign currencies. Changes in foreign currency exchange rates can cause unexpected financial losses or cash flow needs.Operating loss for the quarter ended December 30, 2011 was $3.7 million compared to $1.3 million in the same period in the prior year. Lower gross margins and $2.8 million of higher operating expenses in the current period, however resulted in reduced profits.
Net sales on a consolidated basis for the three months ended December 30, 2011 were $80.2 million, an increase of $1.5 million or 2% compared to $78.7 million for the three months ended December 31, 2010. Foreign currency translation had virtually no effect on sales this quarter.
Net sales for the three months ended December 30, 2011 for the Marine Electronics business were $47.8 million, up $4.9 million or 11% from $42.9 million in the prior year quarter. The Humminbird® brand grew significantly versus the prior year quarter due primarily to the continued success of its side imaging® and down imagingTM sonar products.
Net sales for the Watercraft business were $7.5 million, an increase of $1.4 million or 23%, compared to $6.1 million in the prior year quarter. The increase was driven in large part by year-end close-outs in the sporting goods channel as specialty channel revenues held steady.
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