Johnson Outdoors narrows Q4 loss
Increased revenue and cost cuts helped narrow Johnson Outdoors’ (Nasdaq: JOUT) fourth-quarter loss by 60 percent, the company reported.
For the period ended Oct. 1, the company lost $5.8 million, or $0.62 per share, compared with a year-ago loss of $14.2 million, or $1.55 per share.
Revenue rose to $75.1 million from $65.3 million a year earlier. The company attributed the 15 percent increase to double-digit increases in marine electronics and outdoor equipment sales, and positive response across the specialty channel to new watercraft products and programs.
“We streamlined operations, simplified processes and kept working capital within target levels while investing strategically in innovative new products and programs to strengthen our market-leading positions,” said Helen Johnson-Leipold, chairman and CEO, in a statement.
For all of fiscal 2010, the company earned $6.3 million, or $0.68 per share, compared with a fiscal 2009 loss of $9.7 million, or $1.06 per share. Revenue rose 7 percent to $382.4 million from $356.5 million a year ago. On a constant currency basis, net sales grew 6 percent.
Johnson Outdoors is the parent of Old Town, Ocean Kayak, Necky, Silva compasses and Eureka tents, among others.
Q3 profit climbs 29 percent for Collective Brands
Collective Brands (NYSE: PSS), parent of Hind, Saucony and Sperry Top-Sider, said its third-quarter profit increased 29 percent as revenue rose slightly.
For the quarter ended Oct. 30, earning were $47.6 million, or $0.75 per share, compared with $36.9 million, or $0.57 per share, in the year-ago quarter.
Revenue rose 2 percent to $881.8 million.
Collective Brands said sales from its PLG Wholesale unit climbed 27 percent, helped by growth from all its brands, including Sperry Top-Sider and Saucony.
Over the long term, the company said it has set a target to grow earnings per share approximately 12 percent to 16 percent annually. This would be driven by 3 percent to 5 percent net sales growth and 9 percent to 12 percent operating profit growth.
--Compiled by Wendy Geister
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