Form 8-K
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  August 1, 2025

_______________________________

Johnson Outdoors Inc.

(Exact name of registrant as specified in its charter)

_______________________________

Wisconsin0-1625539-1536083
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

555 Main Street

Racine, Wisconsin 53403

(Address of Principal Executive Offices) (Zip Code)

(262) 631-6600

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, $.05 par value per shareJOUTNASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 
 
Section 2 - Financial Information
 
Item 2.02. Results of Operations and Financial Condition.

 

On August 1, 2025, Johnson Outdoors Inc. (the “Company”) issued a press release announcing results for the third fiscal quarter ended June 27, 2025 (the “Press Release”). A copy of the Press Release is being furnished as Exhibit 99.1 to this Report.

 

The information in this Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that Section, nor shall such information be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise stated in such filing.

 

Section 9 - Financial Statements and Exhibits

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits. The following exhibit is being furnished herewith:

 

99.1 Press Release Dated August 1, 2025.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 Johnson Outdoors Inc.
   
  
Date: August 1, 2025By: /s/ David W. Johnson        
  David W. Johnson
  Vice President and Chief Financial Officer
  

 

EXHIBIT 99.1

Johnson Outdoors Reports Fiscal Third Quarter Results

RACINE, Wis., Aug. 01, 2025 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (Nasdaq:JOUT), a leading global innovator of outdoor recreation equipment and technology, today announced operating results for the Company’s third fiscal quarter ending June 27, 2025.

“While the marketplace continues to fluctuate, this quarter’s positive results emphasize the importance of our focus and investment on delivering market-winning innovation,” said Helen Johnson-Leipold, Chairman and Chief Executive Officer. “Importantly, we continue to make progress against our strategic priorities—innovation, digital and ecommerce, and operational efficiency—which are critical to achieving our goal of delivering future healthy profitable growth.”

THIRD QUARTER RESULTS
Total Company net sales in the third quarter increased 5 percent to $180.7 million compared to $172.5 million in the prior year third fiscal quarter. 

Total Company operating profit was $7.3 million for the third fiscal quarter versus operating loss of $0.5 million in the prior year third quarter. Gross margin improved to 37.6 percent, compared to 35.8 percent in the prior year quarter, primarily due to improved overhead absorption driven by higher sales volumes in addition to lower discounting of product in the current year quarter. Operating expenses of $60.6 million decreased $1.7 million from the prior year period, due primarily to lower promotions and professional services expense, partially offset by increased expense on the Company’s deferred compensation plan. 

Profit before income taxes was $10.5 million in the current year quarter, compared to $0.9 million in the prior year third quarter. In addition to the improvement in operating profit noted above, there was an increase in Other Income of approximately $2.0 million due primarily to an increase in earnings on the Company’s deferred compensation plan. Net income was $7.7 million, or $0.75 per diluted share, versus $1.6 million, or $0.16 per diluted share in the previous year’s third quarter. The effective tax rate was an expense of 26.3 percent compared to a benefit of 78.8 percent in the prior year third quarter.

YEAR-TO-DATE RESULTS
Fiscal 2025 year-to-date net sales were $456.7 million, a 6.2 percent decrease over last year’s first fiscal nine-month period. Total Company operating loss declined to $8.0 million, compared to a loss of $0.7 million in the prior fiscal year-to-date period. Gross margin decreased slightly to 34.8 percent, compared to 36.2 percent in the prior year-to-date period. Operating expenses were $167.0 million in the nine-month period ending June 27, 2025, a decrease of $9.8 million from the prior year due to the same factors noted above for the quarter.

Loss before income taxes for the year-to-date period was $4.3 million, versus profit before income taxes of $9.8 million in the first nine months of the prior year. In addition to the decline in operating profit, Other Income decreased by $6.2 million, primarily due to a decrease in earnings on the Company’s deferred compensation plan of approximately $3.9 million. In addition, the prior year-to-date period included a gain on the sale of the building of approximately $1.9 million. Net loss during the first fiscal nine months was $5.2 million, or $0.52 per diluted share, versus net income of $7.7 million, or $0.75 per diluted share, in the prior fiscal year-to-date period. The Company’s effective tax rate was a tax benefit of 22.8 percent in the current year versus a tax expense of 21.2 percent in the prior year nine-month period.

OTHER FINANCIAL INFORMATION
The Company reported cash and short-term investments of $161.0 million as of June 27, 2025, versus $148.4 million at June 28, 2024. Depreciation and amortization were $15.3 million in the nine months ending June 27, 2025, compared to $14.8 million in the prior nine-month period. Capital spending totaled $11.8 million in the current quarter compared with $16.4 million in the prior year period. In June 2025, the Company’s Board of Directors approved a quarterly cash dividend to shareholders of record as of July 10, 2025, which was payable July 24, 2025.

“We continue to benefit from our ongoing focus on improved operational efficiency, helping us to strengthen margins and effectively manage working capital. While the tariff environment remains uncertain, we continue to work through short- and long-term strategies to mitigate the potential increases in costs. Our focus is on ending the year with our brands well-positioned for the future,” said David W. Johnson, Chief Financial Officer.

PRODUCT NEWS
Humminbird® received “Best of Electronics” honors at the 2025 ICAST, the world’s most prestigious fishing show, with the brand’s new XPLORE fish finder series. XPLORE eliminates the complexity traditionally associated with advanced electronics, delivering a sleek touchscreen interface backed by customizable shortcut keys and a lightning-fast quad-core processor. More than just fast, it’s responsive—adapting in real time so anglers spend less time navigating menus and more time fishing. Integration with Minn Kota® means anglers can easily connect their XPLORE with the best trolling motors and shallow water anchors, offering seamless integration and an enhanced experience.

WEBCAST
The Company will host a conference call and audio web cast at 11:00 a.m. Eastern Time on Friday, August 1, 2025. A live listen-only web cast of the conference call may be accessed at Johnson Outdoors’ home page or here. 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; Carlisle® paddles; Minn Kota® trolling motors, shallow water anchors and battery chargers; Cannon® downriggers; Humminbird® marine electronics and charts; SCUBAPRO® dive equipment; and Jetboil® outdoor cooking systems.

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 anticipated. Factors that could affect actual results or outcomes include the matters described under the caption “Risk Factors” in Item 1A of the Company’s Form 10-K filed with the Securities and Exchange Commission on December 11, 2024, and the following: changes in economic conditions, consumer confidence levels and discretionary spending patterns in key markets; uncertainties stemming from political instability (and its impact on the economies in jurisdictions where the Company has operations), uncertainties stemming from changes in U.S. trade policies, tariffs, and the reaction of other countries to such changes; the global outbreaks of disease, such as the COVID-19 pandemic, which has affected, and may continue to affect, market and economic conditions, along with wide-ranging impacts on employees, customers and various aspects of our operations; the Company’s success in implementing its strategic plan, including its targeted sales growth platforms, innovation focus and its increasing digital presence; litigation costs related to actions of and disputes with third parties, including competitors; the Company’s continued success in its working capital management and cost-structure reductions; the Company’s success in integrating strategic acquisitions; the risk of future write-downs of goodwill or other long-lived assets; the ability of the Company’s customers to meet payment obligations; the impact of actions of the Company’s competitors with respect to product development or enhancement or the introduction of new products into the Company’s markets; movements in foreign currencies, interest rates or commodity costs; fluctuations in the prices of raw materials or the availability of raw materials or components used by the Company; any disruptions in the Company’s supply chain as a result of material fluctuations in the Company’s order volumes and requirements for raw materials and other components, or the demand for those same raw materials and components by third parties, necessary to manufacture and produce the Company’s products including related to shortages in procuring necessary raw materials and components to manufacture and produce such products; the success of the Company’s suppliers and customers and the impact of any consolidation in the industries of the Company’s suppliers and customers; the ability of the Company to deploy its capital successfully; unanticipated outcomes related to outsourcing certain manufacturing processes; unanticipated outcomes related to litigation matters; and adverse weather conditions. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this filing. The Company assumes no obligation, and disclaims any obligation, to update such forward-looking statements to reflect subsequent events or circumstances.


 
JOHNSON OUTDOORS INC.
 
(thousands, except per share amounts)    
 THREE MONTHS ENDEDNINE MONTHS ENDED
Operating resultsJune 27, 2025June 28, 2024June 27, 2025June 28, 2024
Net sales$180,655 $172,472 $456,653 $486,972 
Cost of sales 112,728  110,650  297,677  310,865 
Gross profit 67,927  61,822  158,976  176,107 
Operating expenses 60,597  62,328  166,984  176,820 
Operating profit (loss): 7,330  (506) (8,008) (713)
Interest income, net (878) (1,086) (2,421) (3,063)
Other (income) expense, net (2,292) (327) (1,318) (7,468)
Profit (loss) before income taxes 10,500  907  (4,269) 9,818 
Income tax expense (benefit) 2,758  (715) 975  2,085 
Net income (loss)$7,742 $1,622 $(5,244)$7,733 
Weighted average common shares outstanding - Dilutive 10,293  10,249  10,280  10,232 
Net income (loss) per common share - Diluted$0.75 $0.16 $(0.52)$0.75 
     
Segment Results    
Net sales:    
Fishing$140,679 $130,537 $358,042 $379,637 
Camping & Watercraft Recreation 18,908  21,997  46,211  52,971 
Diving 21,201  19,861  52,705  54,263 
Other / Eliminations (133) 77  (305) 101 
Total$180,655 $172,472 $456,653 $486,972 
Operating profit (loss):    
Fishing$14,553 $5,258 $15,761 $24,214 
Camping & Watercraft Recreation 1,588  2,031  2,188  1,534 
Diving 1,576  898  255  22 
Other / Eliminations (10,387) (8,693) (26,212) (26,483)
Total$7,330 $(506)$(8,008)$(713)
     
Balance Sheet Information(End of Period)    
Cash, cash equivalents and short-term investments  $161,022 $148,369 
Accounts receivable, net   81,993  79,593 
Inventories, net   163,732  223,160 
Total current assets   420,073  461,005 
Long-term investments     2,237 
Total assets   634,473  679,825 
Total current liabilities   105,562  99,293 
Total liabilities   184,009  181,156 
Shareholders’ equity   450,464  498,669 
         


  
David Johnson Patricia Penman
VP & Chief Financial OfficerChief Marketing Officer
262-631-6600262-631-6600