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- Johnson Outdoors Inc (NASDAQ:JOUT) reported third-quarter FY21 sales growth of 54.3% year-on-year, to $213.57 million, beating the analyst consensus of $198.68 million.
- Net sales from Fishing increased 51% Y/Y, Camping grew 84%, Watercraft Recreation increased 30%, and Diving rose 93%.
- Gross profit rose 55.9% Y/Y to $97.5 million with a profit margin of 45.7%.
- Operating expenses increased 20% Y/Y to $59.4 million.
- The operating margin was 17.8%, and operating income for the quarter rose 195% to $38.1 million.
- The company held $249 million in cash and equivalents as of July 2, 2021.
- EPS of $2.83 beat the analyst consensus of $2.50.
- "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 CEO Helen Johnson-Leipold.
- Price action: JOUT shares are trading higher by 5.10% at $124.17 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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