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JOHNSON OUTDOORS THE SPIRIT OF ADVENTURE Johnson Outdoors Reports Fiscal Third Quarter Results August 9 , 2021 RACINE , Wis . , Aug. 09 , 2021 ( GLOBE NEWSWIRE ) Johnson Outdoors Inc. ( Nasdaq : JOUT ) , a leading global innovator of outdoor recreation equipment and technology , today announced increased sales and earnings during the Company's third fiscal quarter ending Friday , July 2 , 2021. Year - to - date revenue and net income compared favorably to the prior year fiscal nine - month period . -- " Strong demand delivered another quarter of unprecedented results . Momentum in Fishing , Camping and Watercraft Recreation continued , and as pandemic - related travel restrictions are being lifted , our work to strengthen the SCUBAPRO® brand has been paying off as Diving begins to recover , " said Helen Johnson - Leipold , Chairman and Chief Executive Officer . " Looking ahead , we're focused on continuing to keep pace with demand and position Johnson Outdoors for marketplace success . " THIRD QUARTER RESULTS Fiscal third quarter results typically reflect in - season replenishment orders for the Company's warm - weather outdoor recreation products . Total Company net sales in the third quarter surged 54 percent to $ 213.6 million , versus $ 138.4 million in the prior year fiscal quarter . The favorable comparison was driven by strong market conditions in the current year quarter as well as the negative impact of COVID - 19 - related shutdowns on the prior year third quarter . Other contributing factors to the quarterly results were : • Fishing revenue increased 51 percent due to continued high demand across all product lines in Minn KotaⓇ and HumminbirdⓇ • Camping grew 84 percent , driven by higher sales for Jetboil®'s new superlight StashTM stove and Eureka® stoves and tents • Strong demand across all product categories , including the Sportsman line , drove a 30 percent increase in Watercraft Recreation sales • Diving sales were up 93 percent , comparing favorably to the prior year's fiscal third quarter , as pandemic - related travel restrictions eased Total Company operating profit during the quarter was $ 38.1 million versus $ 12.9 million in the prior year third quarter . Gross margin rose slightly to 45.7 percent . Increased costs due to tariffs and inbound air freight were more than offset by sales volume - driven operating efficiencies . Operating expenses were $ 59.4 million , an increase of $ 9.8 million due primarily to higher sales volume - driven expenses and higher health insurance claims , but decreased as a percentage of sales . Net income more than doubled to $ 28.8 million , or $ 2.83 per diluted share , compared to $ 12.9 million , or $ 1.27 per diluted share in the previous year's third quarter . YEAR - TO - DATE RESULTS Fiscal 2021 year - to - date net sales were $ 585.4 million , a 36 percent increase over last year's first fiscal nine - month period . Gross margin improved to 45.4 percent in the first fiscal nine months versus 44.5 percent in the prior fiscal year - to - date period . Operating expenses were $ 168.1 million in the current year - to - date period versus $ 139.8 million in the prior year period , with the increase driven primarily by higher sales - volume driven expenses as well as higher variable compensation expense and health benefit costs between periods . Furthermore , favorable market conditions on the Company's deferred compensation plan assets resulted in approximately $ 4.9 million in higher deferred compensation expense in the current year - to - date period as compared to the prior year - to - date period , which was entirely offset by a gain in Other Income . Total Company operating profit rose 90 percent to $ 97.7 million compared to $ 51.5 million in the prior fiscal year - to - date period . Operating profit , excluding the effect to compensation expense of market gains on deferred compensation plan assets , would have been $ 103.2 million for the nine - month period ending July 2 , 2021 , and $ 52.2 million for the nine months ending June 26 , 2020 . Net income during the fiscal nine - month period increased to $ 76.5 million , or $ 7.53 per diluted share , versus $ 39.7 million , or $ 3.93 per diluted share , in the prior fiscal year - to - date period . The Company's effective tax rate was 25.3 percent compared to 24.4 percent in the prior year period . OTHER FINANCIAL INFORMATION The Company reported cash and short - term investments of $ 249.0 million as of July 2 , 2021 , versus $ 181.4 million on June 26 , 2020. Depreciation and amortization were $ 10.0 million compared to $ 11.5 million in the previous year's quarter . Capital spending totaled $ 15.5 million in the fiscal nine month period compared with $ 11.4 million in the prior year - to - date period . In May 2021 , the Company's Board of Directors approved a quarterly cash dividend to shareholders of record as of July 15 , 2021 , which was payable on July 29 , 2021 . " At this time , our focus is to manage dynamic supply chain issues caused by the COVID - 19 pandemic in order to meet strong demand heading into the end of the fiscal year , " said David W. Johnson , Chief Financial Officer . " Our balance sheet and healthy cash position continue to enable us to invest in strategic opportunities to strengthen the business , while consistently paying dividends to shareholders . " PRODUCT NEWS Humminbird® received " Best of Electronics " honors at the 2021 ICAST , the world's most prestigious fishing show , with the brand's new MEGA Live ImagingTM sonar technology . MEGA Live Imaging delivers the clarity and detail of MEGA Imaging in live - action , allowing anglers to see fish and structure in real - time , even watching fish on - screen as they move in to bite an angler's lure . With the release of this technology , anglers have access to the most complete package of industry - leading technologies and products offered by a single brand . Humminbird innovation has captured ten ICAST " Best of Electronics " awards in the past eleven years .