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Johnson Outdoors Inc. (JOUT-0.92%) has submitted its 10-Q filing for the quarterly period ended December 27, 2024.
The filing includes financial statements for the quarter, showing a decrease in net sales to $107,649,000 from $138,644,000 in the same quarter the previous year. This decrease is attributed to ongoing market challenges, a cautious retail environment, and increasing competitive pressure.
Cost of sales for the quarter was $75,466,000, resulting in a gross profit of $32,183,000, compared to $52,854,000 in the previous year. The decline in gross profit is due to unfavorable overhead absorption and changes in product mix.
Operating expenses for the quarter were $52,422,000, slightly down from $52,808,000 in the previous year. The decrease in expenses was primarily due to lower sales volumes.
The company reported an operating loss of $20,239,000 for the quarter, compared to an operating profit of $46,000 in the previous year.
Net loss for the quarter was $15,290,000, down from a net income of $3,955,000 in the previous year. The loss per diluted common share was $1.49, compared to earnings of $0.38 per share in the previous year.
Cash used in operating activities was $36,909,000, while cash used in investing and financing activities was $6,500,000 and $3,450,000, respectively.
Johnson Outdoors had cash and cash equivalents totaling $101,617,000 as of December 27, 2024. The company maintains a debt to total capitalization ratio of 0%.
The filing also details a recent acquisition of Endless Summer Technologies Proprietary, Ltd. for $12,180,000, which is expected to enhance the company's Diving segment.
The company has combined its previously separate Camping and Watercraft Recreation segments into a single segment, reflecting changes in how the business is managed.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Johnson Outdoors Inc. quarterly 10-Q report dated February 3, 2025. To report an error, please email earnings@qz.com.