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JOHNSON OUTDOORS THE SPIRIT OF ADVENTURE Johnson Outdoors Reports Fiscal First Quarter Results February 5 , 2021 RACINE , Wis . , Feb. 05 , 2021 ( GLOBE NEWSWIRE ) -- Johnson Outdoors Inc. ( Nasdaq : JOUT ) , a leading global innovator of outdoor recreation equipment and technology , today announced higher sales and earnings during the Company's first fiscal quarter ending Friday , January 1 , 2021 . " Strong demand in the Company's Fishing , Camping and Watercraft Recreation businesses delivered an unprecedented first fiscal quarter . Diving continues to be impacted by travel restrictions , but will benefit from our ongoing efforts to ensure the SCUBAPRO® brand is well - positioned when travel returns , " said Helen Johnson - Leipold , Chairman and Chief Executive Officer . " Indications are that people's eagerness to get outdoors will continue through the season , but the COVID - 19 pandemic still brings uncertainty . We're focused on working hard to keep pace with demand and leveraging our market - leading brands and innovation to maximize the heightened interest in outdoor recreation . " FIRST QUARTER RESULTS The COVID - 19 pandemic has resulted in increased consumer interest and participation in the great outdoors which created high demand for outdoor recreation products during the last half of the prior fiscal year . In the first fiscal 2021 quarter , customers looked to replenish inventory levels in anticipation of the fiscal 2021 warm - weather recreation season . As a result , total Company net sales in the first quarter rose 29 percent year over year to $ 165.7 million , versus $ 128.1 million in the prior year fiscal quarter . Key contributing factors to the results were : • Strong demand for new and core technologies across all Fishing brands drove a 28 percent increase in revenue for the segment . • Watercraft Recreation and Camping sales also rose significantly due to continued demand across all product categories . • Diving sales declined 14 percent year over year due largely to ongoing pandemic - related global travel restrictions . Total Company operating profit was $ 23.6 million for the first fiscal quarter versus $ 6.8 million in the prior year first quarter . The increase was driven primarily by the sales growth year over year . Gross margin increased 3.4 points on higher absorption of fixed costs due to increased sales volume and an improved product mix . Operating expenses increased $ 4.7 million over the prior year period due primarily to higher sales volume - related costs . Additionally , the impact of favorable market conditions on the Company's deferred compensation plan assets resulted in approximately $ 1.4 million of higher deferred compensation expense , which was entirely offset by a gain in Other Income . Net income increased to $ 19.8 million , or $ 1.96 per diluted share , versus $ 6.4 million , or $ 0.64 per diluted share in the previous year's first quarter . The Company's effective tax rate was 23.7 percent compared to an effective tax rate of 25.1 percent in the prior year first quarter . OTHER FINANCIAL INFORMATION The Company reported cash and short - term investments of $ 195.9 million as of January 1 , 2021. Depreciation and amortization were $ 3.5 million compared to $ 3.4 million in the previous year's quarter . Capital spending totaled $ 4.4 million in the current quarter compared with $ 3.3 million in the prior year quarter . In December 2020 , the Company's Board of Directors approved a quarterly cash dividend to shareholders of record as of January 14 , 2021 , which was payable on January 28 , 2021 . " Looking ahead , we will continue to manage risks associated with current global supply chain pressures and related logistics constraints caused by the COVID - 19 pandemic as we work to fill demand , " said David W. Johnson , Chief Financial Officer . " Furthermore , our debt - free balance sheet and healthy cash position provide a competitive advantage as we make smart investments to strengthen the business and drive value for shareholders for the long - term . " WEBCAST The Company will host a conference call and audio web cast at 11:00 a.m. Eastern Time on Friday , February 5 , 2021. A live listen - only web cast of the conference call may be accessed at Johnson Outdoors ' home page . A replay of the call will be available for 30 days on the Internet . About Johnson Outdoors Inc. JOHNSON OUTDOORS is a leading global innovator of outdoor recreation equipment and technologies that inspire more people to experience the awe of the great outdoors . The company designs , manufactures and markets a portfolio of winning , consumer - preferred brands across four categories : Watercraft Recreation , Fishing , Diving and Camping . Johnson Outdoors ' iconic brands include : Old TownⓇ canoes and kayaks ; Ocean Kayak TM 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 . Visit Johnson Outdoors at http://www.johnsonoutdoors.com Safe Harbor Statement Certain matters discussed in this press release are " forward - looking statements , " intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact are considered forward - looking statements . These statements may be identified by the use of forward - looking words or phrases such as " anticipate , " " believe , " " confident , " " could , " " expect , " " intend , " " may , " " planned , " " potential , " " should , " " will , " " would " or the negative of those terms or other words of similar meaning . Such forward - looking statements are subject to certain risks and uncertainties , which could cause actual results or outcomes to differ materially from those currently