Following Johnson Outdoors Inc. announcement of double-digit growth in sales and operating profit for the fiscal third quarter ending June 30, 2017, company CEO, Helen Johnson-Leipold, believes she knows why.
During a teleconference call on August 4, Johnson-Leipold reported that company sales increased by 11.5 percent – to US $155 million – for Q3 2017. Additionally, she reports the company’s operating profit grew to US $24.7 million, almost double compared to last year.
“Year-to-date is a similar story,” Johnson-Leipold says. “Sales in the nine-month period were US $399 million, an 11 percent increase over the prior year same period. Operating profit rose to nearly US $46 million, nearly US $18 million above last year at this same time. Net income was US $3.45 per diluted share in the nine-month period, more than double last year’s first three quarters.”
Johnson-Leipold believes the company’s positive results are a direct result of Johnson Outdoors’ continued focus on innovation for outdoor recreational consumers.
“Fishing has had a phenomenal year with strong growth in all segments and channels by our powerhouse flagship Minn Kota and Humminbird brands,” she adds. “And while we’re benefiting from this year’s very healthy boat market, the primary driver behind Fishing’s performance is robust innovation across the business.”
Johnson-Leipold says the company’s latest fishing products accounted for about 60 percent of its entire product offering. Typically, the new product target for that category is about one third of that amount.
“Our 2017 new product lineup was exceptional and marketplace demand has exceeded expectations across the board,” Johnson-Leipold explains. “Among these are the award-winning patented Minn Kota Ultrex, the first electric cable-steer motor and the most technologically advanced one, providing our breakthrough steering and navigation features at the tap of a foot.”
Johnson Outdoors designs, manufactures and markets products across four categories, including watercraft recreation, fishing, diving and camping. Its brands include: Old Town canoes and kayaks; Ocean Kayak; Carlisle paddles; Minn Kota fishing motors, batteries and anchors; Cannon downriggers; Humminbird marine electronics and charts; SCUBAPRO dive equipment; Jetboil outdoor cooking systems; and, Eureka! camping and hiking equipment.