The maker of Eureka Tents and Old Town canoes and kayaks reported flat sales and lower profit for its fiscal second quarter 2012 on declining military sales.
Racine, Wis.-based Johnson Outdoors (Nasdaq:JOUT) reported relatively unchanged revenue of $128.7 million during its fiscal second quarter, ended March 20, 2012, compared to $128.9 million a year ago. Quarterly net income fell to $7.3 million, or 74 cents per diluted share, versus $8.5 million, or 87 cents per diluted share, a year ago.
Johnson officials said the company’s Outdoor Group suffered a an 8.2 percent decline to $9.4 million as a result of a 23.5 percent reduction in military sales. Several outdoor brands that sell to the military have seen cutbacks as the nation’s two wars wind down and defense spending is slashed.
Johnson’s watercraft sales also fell — down 5.8 percent to $17.1 million versus a year ago. The company saw gains from its diving and marine electronic segments.