Johnson Outdoors Q3 Profit Rises - Quick Facts

(RTTNews) - Johnson Outdoors Inc.'s (JOUT) third quarter net income was $13.7 million, or $1.37 per share, up from $9.0 million, or $0.91 per share, in the same quarter last year. Net income in the latest-quarter reflected changes in foreign tax valuation allowances which significantly reduced the Company's effective tax rate year-over-year.

Total Company operating profit during the quarter was $16.1 million, a 13 percent increase over the prior fiscal year quarter. Operating expenses declined $1.8 million quarter-over-quarter due largely to lower restructuring charges and the benefit of a $0.5 million insurance settlement related to a flood in the Company's Binghamton, NY operation in late fiscal 2011.

Total Company net sales of $129.8 million during the third fiscal quarter compared favorably to net sales of $128.6 million in the previous year quarter, with new products generating more than 40 percent of total Company net sales. Third fiscal quarter results reflect in-season replenishment orders for the Company's warm-weather outdoor recreation products.