Johnson Outdoors Inc. reported quarterly earnings and sales that exceeded estimates, despite the fact that the gross margin was reduced due to increased tariffs, air travel costs and higher goods costs.
The outdoor equipment company said its net profit for the quarter ended Oct. 1 was down $ 6.9 million, or 68 cents a share, from $ 15.5 million, or $ 1.53 a share, a year earlier. time.
Convergent estimates for earnings per share stood at 65 cents. Sales rose 1% to $ 166.3 million, beating estimates of $ 164.1 million, while the cost of goods sold rose 7.6%.
“For 2022, we remain focused on managing the ongoing global supply chain pressures and related logistics constraints affecting our industry and market,” said CFO David Johnson.
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Source From: Capital
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