Business
Johnson Outdoors Reports Record Sales and Earnings for Fiscal Year 2021
RACINE, Wis., Dec. 10, 2021 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (Nasdaq:JOUT), a leading global innovator of outdoor recreation equipment and
About this update from Johnson Outdoors Inc.
[{"type":"text","content":"RACINE, Wis., Dec. 10, 2021 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (Nasdaq:JOUT), a leading global innovator of outdoor recreation equipment and technology, today announced higher revenue and earnings for the fiscal year ending October 1, 2021. Continued high demand for products in Fishing, Camping and Watercraft Recreation propelled a 26 percent increase in sales as operating profit grew 56.6 percent and net income rose 51 percent over the prior fiscal year. Fourth quarter net sales rose slightly above the prior year quarter’s unprecedented results. “Johnson Outdoors had an exceptional year, driven by people’s continued interest in spending time outdoors. Fishing, Camping and Watercraft Recreation saw strong sales during all four quarters, with Diving beginning to recover in the third and fourth fiscal quarters. While ongoing global supply chain disruptions remain challenging, we’re pleased with our results and our employees’ hard work to continue to meet demand and deliver the best outdoor experiences possible,” said Helen Johnson-Leipold, Chairman and Chief Executive Officer. “Looking ahead, we remain focused on our key strategic drivers—understanding our consumers, sustaining innovation leadership, identifying new sources and paths of growth in our markets, and continually optimizing our digital consumer experience—to ensure our portfolio of market-leading brands is well-positioned for success.” FISCAL 2021 HIGHLIGHTS Ongoing strong consumer demand in Fishing, Camping and Watercraft RecreationInnovation and new product successRecord operating profits and net incomeStrong, debt-free balance sheetIncreased quarterly dividend to shareholders 43 percent FISCAL 2021 RESULTSTotal Company revenue grew 26 percent to $751.7 million versus fiscal 2020 revenue of $594.2 million. Key factors in the year-over-year comparison were: Fishing revenue increased 23 percent due to continued demand across all product linesCamping grew 51 percent due to higher sales in both Jetboil® and Eureka®Watercraft Recreation sales rose 59 percent due to continued high demand across all product categories, including the Sportsman lineDiving sales were up 14 percent, comparing favorably to the prior fiscal year as markets began to recover from pandemic-related restrictions Total Company operating profit was $111.3 million in fiscal 2021, which compared fa...