Johnson Outdoors Q1 revenue rises 31%, net loss narrows

Overview

• Outdoor recreation firm's fiscal Q1 revenue rose 31% yr/yr

• Net loss for fiscal Q1 narrowed significantly compared to last year

• Company's gross margin improved due to better overhead absorption and cost savings

Outlook

• Company will continue to manage costs while protecting investments to strengthen business

• Johnson Outdoors ramps up for primary selling period in second and third fiscal quarters

• Company sees benefit from operational efficiency efforts, improving margins and inventory levels

Result Drivers

• FISHING SEGMENT - Revenue increased 36% due to successful new product launches and improved trade inventory levels

• CAMPING & WATERCRAFT - Sales rose 12% primarily due to new product success and growth in the e-commerce channel

• DIVING SALES - Increased 15% driven by improvement across global markets

Key Details

Analyst Coverage

• Wall Street's median 12-month price target for Johnson Outdoors Inc is $52.00, about 7.5% above its February 5 closing price of $48.38

• The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 39 three months ago

Press Release: ID:nGNX4sssxX

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