Momentum in fishing helped international outdoor recreation products supplier Johnson Outdoors deliver another quarter of ‘unprecedented’ results.
The group reported that net income increased in the third quarter by 54% compared to the same period last year.
“Strong demand delivered another quarter of unprecedented results,” said Helen Johnson-Leipold, Johnson Chairman and CEO. “Momentum in fishing, camping and watercraft continued. Looking ahead, we are focused on continuing to keep pace with demand and position the group for marketplace success.”
Net sales reached $213.6m compared to $138.4m in the same comparable quarter last year.
• Fishing revenue increased 51% due to continued high demand across all its Minn Kota and Humminbird product lines;
• Watercraft Recreation sales increased 30% with strong demand across all categories, including its fishing kayaks.
Total company operating profit during the quarter was $38.1m against $12.9m in the third quarter 12 months ago.
To date, net sales stand at $585.4m – a 36% increase over last year’s nine-month period.
David W. Johnson, group CFO, added: “At this time, our focus is to manage dynamic supply chain issues caused by the COVID-19 pandemic in order to meet strong demand heading into the end of the fiscal year. Our balance sheet and healthy cash flow position continues to enable us to invest in strategic opportunities to strengthen the business, while consistently paying dividends to shareholders.”
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