--- schema_version: "secwatch.filing_event.v1" accession: "0001171843-23-004949" form_type: "8-K" ticker: "JOUT" cik: "0000788329" company_name: "JOHNSON OUTDOORS INC" filed_at: "2023-08-03T23:59:59+00:00" generated_at: "2026-06-12T10:16:19.274721+00:00" event_type: "earnings" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # Johnson Outdoors Q3 sales down 8%, but net income up to $14.8M on margin gains ## Summary - Total net sales of $187.0M vs $203.8M prior year; Fishing up 1%, Camping and Watercraft revenues declined sharply. - Operating profit fell to $17.4M from $23.8M; net income rose to $14.8M ($1.44 EPS) from $14.1M ($1.38 EPS). - Gross margin improved to 41.5% (prior 36.1%) due to price increases and lower freight and materials costs. - Cash and investments $163.3M, up $45.7M YoY; company remains debt-free. - Quarterly dividend approved; payable July 27, 2023 to shareholders of record July 13. ## SEC filing metadata - accession: 0001171843-23-004949 - form_type: 8-K - ticker: JOUT - cik: 0000788329 - company_name: JOHNSON OUTDOORS INC - filed_at: 2023-08-03T23:59:59+00:00 - event_type: earnings - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 2.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/788329/000117184323004949/0001171843-23-004949-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788329/000117184323004949/f8k_080223.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001171843-23-004949 - JSON: https://secwatch.observer/filing/0001171843-23-004949.json - Plain text: https://secwatch.observer/filing/0001171843-23-004949.txt ## Key facts - Earnings Releases JOHNSON OUTDOORS INC reported third fiscal quarter ended June 30, 2023 results: revenue $187.0 million, net income $14.8 million, EPS $1.44 per diluted share. - Period: third fiscal quarter ended June 30, 2023 - Revenue: $187.0 million - Net income: $14.8 million - EPS: $1.44 per diluted share - Result: reported results source text: Total Company net sales in the third quarter declined 8 percent to $187.0 million compared to $203.8 million in the prior year third fiscal quarter. Key contributing factors include: Fishing sales increased by approximately 1 percent, driven primarily by product price increases Diving sales remain flat over the prior year third quarter Camping revenue declined 50 percent or $11.8 million, of which $4.9 million was due to the sale of the Military and Commercial Tents product lines in the second quarter, and the remainder due to high retail inventories and a decline in consumer spending Watercraft Recreation revenue declined 28 percent, reflecting significant reductions in the overall market Profit before income taxes was $19.8 million in the current year quarter, compared to $19.2 million in the prior year third quarter. Operating profit was $17.4 million for the third fiscal quarter versus $23.8 million in the prior year third quarter. Gross margin increased to 41.5 percent, compared t evidence_url: https://www.sec.gov/Archives/edgar/data/788329/000117184323004949/0001171843-23-004949-index.htm - Earnings Releases JOHNSON OUTDOORS INC reported fiscal 2023 year-to-date (first nine months) ended June 30, 2023 results: revenue $567.5 million, net income $35.5 million, EPS $3.47 per diluted share. - Period: fiscal 2023 year-to-date (first nine months) ended June 30, 2023 - Revenue: $567.5 million - Net income: $35.5 million - EPS: $3.47 per diluted share - Result: reported results source text: YEAR-TO-DATE RESULTS Fiscal 2023 year-to-date net sales were $567.5 million, a 4 percent increase over last year’s first fiscal nine month period. Profit before income taxes for the year-to-date period was $47.9 million versus $47.0 million in the first nine months of the prior year. Operating profit declined to $34.3 million compared to $53.0 million in prior fiscal year-to-date period. Gross margin improved to 38.0 percent in the first fiscal nine months versus 37.1 percent in the prior fiscal year-to-date period. Operating expenses were $181.4 million in the nine months ended June 30, 2023, an increase of $31.7 million from the prior year period, due to higher warranty expense, advertising and promotional spend, increased compensation costs, professional services and deferred compensation expense between periods. Interest income increased $2.5 million over the prior year-to-date period. Additionally, other income increased by $17.1 million helping to offset the decline in operating evidence_url: https://www.sec.gov/Archives/edgar/data/788329/000117184323004949/0001171843-23-004949-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.