Single Page | 
Multiple Pages
Home > BizTimes Daily > Archives > November 20, 2009
Johnson Outdoors pares losses
Published November 20, 2009 - BizTimes Daily
1 of 11 | Next 
Johnson Outdoors Inc. today reported a fiscal fourth quarter net loss of $14.2 million, or $1.55, which was an improvement from a loss of $74.6 million, or $8.07 per share, in the same period a year ago.
The Racine-based manufacturer of outdoor recreational products reported quarterly net sales of $65.3 million, down from $81.8 million a year earlier.
While restructuring costs accounted for more than half of the reported operating loss in the fourth quarter, cost-savings helped offset the impact of declining sales on profitability during the period, the company said.
Due to the seasonality of the warm-weather outdoor recreational products industry, the company's fourth quarter results historically reflect a loss due to the industry-wide slowing of sales and production.
"We have been strategic and aggressive in our efforts to increase flexibility and drive efficiency throughout our operations, while continuing to deliver innovative products and value-added service to our customers and consumers. As a result of this year's successful cost-reduction plans and debt refinancing, we believe our businesses are stronger, more competitive and better positioned to deliver sustained profitable growth and enhanced shareholder value in the future," said Helen Johnson-Leipold, chairman and chief executive officer of the firm.
"Disciplined working capital management and balance sheet focus enabled us to generate approximately $31 million in operating cash flow this year and successfully complete a new financing structure more reflective of our performance and better suited to our business model," said David Johnson, vice president and chief financial officer.
