Johnson Outdoors Inc. (JOUT) has reported a 49.76 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $13.96 million, or $1.39 a share in the quarter, compared with $9.32 million, or $0.93 a share for the same period last year.
Revenue during the quarter grew 11.64 percent to $149.81 million from $134.19 million in the previous year period. Gross margin for the quarter expanded 235 basis points over the previous year period to 43.33 percent. Total expenses were 86.34 percent of quarterly revenues, down from 88.72 percent for the same period last year. This has led to an improvement of 238 basis points in operating margin to 13.66 percent.
Operating income for the quarter was $20.46 million, compared with $15.14 million in the previous year period.
"Excitement in the market for Johnson Outdoors' innovative new product line-up is giving us a great start to the year and positioning our brands for continued growth and success. Importantly, we are leveraging the unique combination of pioneering technologies in our Minn Kota and Humminbird brands to maximize the growth potential of our Fishing business. Watercraft Recreation sales are outpacing the competition to sustain a profitable growth trajectory, and we are beginning to see the benefit of our efforts to reinvigorate innovation in Diving," said Helen Johnson-Leipold, chairman and chief executive officer. "Ongoing focus and investment against our three key strategic plan priorities richer consumer insights, enhanced innovation processes and digital sophistication are essential to ensure continued progress toward our goal of delivering accelerated sustained profitable growth."
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