Johnson Outdoors swings to Q3 profit
Johnson Outdoors Inc. (Nasdaq: JOUT) shares are down slightly even though the maker of outdoor recreation products swung to a fourth-quarter profit of $1.5 million, or $0.16 per share, from a loss of $0.9 million, or $0.10 per share, a year earlier.
“Our strategic growth plan is generating outstanding top-line momentum through continuous innovation, targeted acquisitions and geographic expansion as new products, new brands and European growth were key drivers of increased fiscal 2007 revenues,” CEO Helen Johnson-Leipold said in a statement. “Importantly, this year we invested in building capability to deliver sustained profitable growth in the future. An in-depth look at the outdoor recreational universe helped focus and prioritize opportunities to expand our footprint in the marketplace.”
The Racine, Wis.-based firm’s quarterly net sales rose to $87.7 million, from $80.3 million a year earlier. The company’s gross profit during the three months ended late September rose to $35.5 million, from $34 million during the prior-year period.
In afternoon trading, JOUT shares are down 1.18%, or $0.26, at $21.77. Over the last 52 weeks, shares have ranged from $17 to $23.91.
