Johnson Outdoors Q3 net sales fall 8% to $172.5M; posts operating loss of $0.5M

JOHNSON OUTDOORS INC

Net income $1.6M ($0.16 diluted EPS) vs $14.8M ($1.44) in prior-year Q3.
Gross margin dropped to 35.8% from 41.5% due to lower volumes and mix shift.
Year-to-date net sales down 14% to $487M; operating loss of $0.7M vs profit $34.3M.
Company cites lower consumer demand, heavy promotional activity; expanding cost savings actions.
Debt-free balance sheet holds $148.4M cash; quarterly dividend paid July 25.

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