Johnson Outdoors completes amended debt agreement
Johnson Outdoors Inc. (Nasdaq: JOUT) said it has completed an amendment to its existing debt agreements, providing greater flexibility to financial metric covenants through the end of the company's 2009 fiscal year.
Under the amended facility, the maximum amount available under the combined credit facilities was reduced from $135 million to $95 million on Jan. 2, and will be reduced to $90 million as of Jan. 31. Borrowings under the facility are subject to the value of a borrowing base consisting of certain receivables and the company's inventory.
"(This amendment) provides us with added flexibility to operate through the current challenging economic and market conditions. The continued support of our bank group demonstrates their confidence in Johnson Outdoors' ongoing business,'' Helen Johnson-Leipold, chairman and CEO, said in a statement.
Johnson Outdoors is parent to Old Town, Ocean Kayak, Necky, Lendal, Carlisle, Extrasport and Eureka tents, among others.
Cabela's, Lacrosse Footwear among biggest percentage losers in trading
Among companies with market capitalizations under $1 billion, Cabela's (NYSE:CAB) and Lacrosse Footwear (Nasdaq: BOOT) were among the biggest percentage losers in trading the week of Dec. 29.
On Dec. 29, Cabela's shed $1.52 to close at $4.98 on a volume of 1.28 million shares. Its 52-week range is $4.18 to $16.29.
Lacrosse closed at $10.76, down $1.77, on Dec. 30 on a volume of 36,200 shares. For the year, the company's range is $9.47 to $18.98.
--Compiled by Wendy Geister
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