Johnson Outdoors Q4 Earnings Top Consensus - Johnson Outdoors (NASDAQ:JOUT)

Johnson Outdoors Inc JOUT reported fourth-quarter FY21 sales growth of 1% year-on-year, to $166.26 million, beating the analyst consensus of $164.23 million.
EPS of $0.68 beat the analyst consensus of $0.65.
The gross margin contracted 365 basis points Y/Y to 41.1% due to increased tariffs, inbound air freight costs, and higher cost of goods sold.
Operating expenses rose 1.1% Y/Y to $54.7 million. The operating margin was 8.2%, and operating income for the quarter fell 30.5% to $13.6 million.
The company held $240.4 million in cash and equivalents as of October 1, 2021.
"We're maintaining higher-than-normal inventory levels to meet the demand for our products and we expect near-term margins to be impacted by the pressure on our supply chain," said CFO David W. Johnson.
Price action: JOUT shares closed lower by 2.30% at $97.51 on Thursday.