Johnson Outdoors Inc. (JOUT) swung to a net profit for the quarter ended Dec. 30, 2016. The company has made a net profit of $4.06 million, or $ 0.40 a share in the quarter, against a net loss of $0.53 million, or $0.05 a share in the last year period.
Revenue during the quarter grew 9.88 percent to $93.73 million from $85.30 million in the previous year period. Gross margin for the quarter contracted 3 basis points over the previous year period to 39.01 percent. Operating margin for the quarter period stood at positive 0.50 percent as compared to a negative 1.06 percent for the previous year period.
Operating income for the quarter was $0.47 million, compared with an operating loss of $0.90 million in the previous year period.
"We continue to benefit from our strategic focus and investments to enhance innovation as our new product line-up delivered a very strong start to the year. Cutting-edge technology advancements powered significant growth in Fishing, and unique designs and improved functionality created positive momentum behind our entire new product line-up. We head into the all-important retail selling period for our products over the next six months well-positioned for continued marketplace success," said Helen Johnson-Leipold, chairman and chief executive officer.
Debt comes down significantly
Johnson Outdoors Inc. has recorded a decline in total debt over the last one year. It stood at $13 million as on Dec. 30, 2016, down 58.85 percent or $18.60 million from $31.60 million on Jan. 01, 2016. Total debt was 4.11 percent of total assets as on Dec. 30, 2016, compared with 9.83 percent on Jan. 01, 2016. Debt to equity ratio was at 0.06 as on Dec. 30, 2016, down from 0.16 as on Jan. 01, 2016.
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