Johnson Outdoors Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended March 30, 2018; Provides Tax Rate Guidance for the Year 2018
May 04, 2018 at 05:00 am EDT
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Johnson Outdoors Inc. reported consolidated earnings results for the second quarter and six months ended March 30, 2018. For the second quarter, the company reported net sales of $165,778,000 compared to $149,807,000 a year ago. Operating profit was $26,002,000 compared to $20,458,000 a year ago. Income before income taxes was $29,445,000 compared to $21,837,000 a year ago. Net income was $21,620,000 compared to $13,959,000 a year ago. Diluted net income per share was $2.15 compared to $1.39 a year ago.
For the six months, the company reported net sales of $282,357,000 compared to $243,536,000 a year ago. Operating profit was $33,039,000 compared to $20,930,000 a year ago. Income before income taxes was $37,769,000 compared to $21,792,000 a year ago. Net income was $21,855,000 compared to $18,015,000 a year ago. Diluted net income per share was $2.18 compared to $1.80 a year ago. Capital spending totaled $10.9 million during the first six-month period compared with $5.2 million in the previous year-to-date period.
For the year 2018, The company expects tax rate to be in the mid 20% range.
Johnson Outdoors Inc. is engaged in manufacturing and marketing of branded seasonal outdoor recreation products that are used primarily for fishing, diving, paddling and camping. The Companyâs segments include Fishing, Camping, Watercraft Recreation and Diving. The Fishing segment brands are Minn Kota, Humminbird and Cannon. The Camping segment brands are Eureka! and Jetboil. Eureka! designs and manufactures large tents and lightweight backpacking tents for the United States military. Watercraft Recreation segment designs and markets canoes and kayaks under the Ocean Kayaks and Old Town brand names for family recreation, touring, angling and tripping. Diving segment manufactures and markets underwater diving products for recreational divers, which it sells and distributes under the SCUBAPRO brand name. It markets a range of underwater diving and snorkeling equipment, including regulators, buoyancy compensators, dive computers and gauges, wetsuits, masks, fins, snorkels and accessories.
Johnson Outdoors Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended March 30, 2018; Provides Tax Rate Guidance for the Year 2018