Loading...
•
Dec 31, 2021
Johnson Outdoors Q1 2022 Earnings Report
Reported lower sales and earnings year over year for the first fiscal quarter.
Key Takeaways
Johnson Outdoors reported a decline in sales and earnings for the first fiscal quarter ending December 31, 2021, with net sales decreasing by 7% to $153.5 million compared to the prior year. Despite strong demand, the company faced challenges in managing supply chain issues and uncertainties related to the pandemic.
Net sales decreased by 7% to $153.5 million compared to the prior year's record-high first fiscal quarter, but were 20% above the pre-pandemic December 2019 quarter.
Operating profit was $13.8 million, down from $23.6 million in the prior year.
Gross margin declined to 39.5% due to increased costs of raw materials and freight.
Net income was $10.9 million, or $1.07 per diluted share, compared to $19.8 million, or $1.96 per diluted share in the previous year.
Johnson Outdoors
Johnson Outdoors
Forward Guidance
The company is focused on managing ongoing supply chain challenges and uncertainties associated with the pandemic, while taking necessary steps to mitigate the impact on the business, including maintaining higher-than-normal inventory levels, seeking alternative sources of supply, and implementing price increases where appropriate.