 RACINE, Wis., July 31, 2020 GLOBE NEWSWIRE -- Johnson Outdoors Inc. Nasdaq:JOUT, a leading global innovator of outdoor recreation equipment and technology, today reported lower sales and net income during the Companys 2020 third fiscal quarter ending June 26, 2020, compared to the prior year quarter. Year-to-date revenue and net income also declined. As expected, the COVID-19 pandemic had a significant impact on the quarter. Strong momentum in Fishing, Watercraft Recreation and Camping in May and June could not offset the pandemic-related impact on operations in April. Stay-at-home mandates hit during the heart of our primary selling season, as many retailers were closed and consumers were restricted to essential-only activities. As those mandates eased, we began to see high demand and growing participation in Fishing, Camping and Watercraft Recreation, while travel restrictions continue to limit accessibility to Diving, said Helen Johnson-Leipold, Chairman and Chief Executive Officer. Going forward, our goal is to continue the positive momentum of our Fishing, Watercraft Recreation and Camping brands through the end of the year by leveraging the increased interest in outdoor activities to the fullest.At the beginning of the third quarter, the Company temporarily suspended operations at some locations. When production and shipments resumed in its North American operations on April 22, 2020, the Company began operating under strict procedures and protocols, consistent with CDC guidelines and public health safety directives for COVID-19, and will continue to do so for the foreseeable future. THIRD QUARTER RESULTS Typically the third quarter is the primary selling season for our warm weather outdoor recreation products; however, due to COVID-19, customer inventory and replenishment and consumer sell-through patterns have shifted. Total Company net sales declined 21.5 percent to 138.4 million, versus 176.3 million in the prior year third quarter. Strong demand in Fishing throughout May and June was not enough to offset the impact of COVID-19 in April, resulting in a 20 percent decline in sales. New product innovation and positive market dynamics in Watercraft drove higher demand, leading to a 17 percent growth in revenue. Retail closures and state and national park closures contributed to a 34 percent decline in Camping sales. Diving, our most global business and the first to be affected by stay-at-home mandates, posted a 47 percent decline in revenue.Total Company operating profit was 12.9 million for the third quarter compared to 28.0 million in the prior year third fiscal quarter, due primarily to lower sales volume. Gross margin of 45.2 percent was flat to the prior year quarter. Reduced efficiencies from COVID-19 shutdowns were offset by improved product mix and pricing. Operating expense decreased 2.1 million compared to the prior year quarter, due to reduced sales volume-related costs which were offset in part by a 2.1 million unfavorable impact year-over-year from valuation adjustments to the Companys deferred compensation plan assets, which are totally offset in Other Income. Net income was 12.9 million, or 1.27 per diluted share, versus 22.1 million, or 2.19 per diluted share in the previous years third quarter. YEAR-TO-DATE RESULTS Fiscal 2020 year-to-date net sales declined six percent to 429.5 million compared to 458.4 million in last years first fiscal nine-month period. Total Company operating profit was 51.5 million compared to 61.9 million in the prior fiscal year-to-date period. Gross margin was 44.5 percent in the current year-to-date period, and operating expenses declined 1.5 million year-over-year. Net income during the first fiscal nine months was 39.7 million, or 3.93 per diluted share, versus 47.5 million, or 4.72 per diluted share, in the prior fiscal year-to-date period. The Companys effective tax rate decreased slightly year-over-year to 24.4 percent. OTHER FINANCIAL INFORMATION The Company reported cash and short-term investments of 181.4 million as of June 26, 2020, versus 149.0 million on June 28, 2019. Depreciation and amortization were 11.5 million compared to 10.4 million in the previous years quarter. Capital spending totaled 11.4 million in the first fiscal nine months compared with 12.0 million in the prior year-to-date period. In May 2020, the Companys Board of Directors approved a quarterly cash dividend to shareholders of record as of July 9, 2020, which was payable on July 23, 2020.During the quarter, where appropriate, we reduced expenses; however, at this time, the challenge is keeping pace with demand, with a focus on ending the year strong, said David W. Johnson, Chief Financial Officer. Our debt-free balance sheet and our healthy cash position will be beneficial as we continue to work through challenges ahead and make smart investments to strengthen the business and drive value for our shareholders.PRODUCT NEWS Johnson Outdoors innovation continues to capture awards and generate excitement at ICAST, the worlds most prestigious fishing show, winning its third Best of Show award in the last five years. The new Old Town Sportsman AutopilotTM won the coveted 2020 Best of Show honors, as well as this years Best Boats and Watercraft award. The Sportsman Autopilot, part of Old Towns new pioneering line of power, pedal and paddle fishing kayaks, utilizes a GPS-enabled Minn Kota trolling motor to propel, maneuver, and anchor the kayak with its unique Spot-LockTM Technology.Johnson Outdoors fishing brands continue to dominate their respective categories at ICAST. The Humminbird CoastMasterTM won Best Electronics honors, resulting in nine ICAST Best of Electronics awards in the last ten years. CoastMaster arms saltwater anglers with the very latest information to identify the most productive fishing areas in any U.S. coastal waters and allows anglers to navigate these areas safely and with confidence. The Minn Kota RaptorTM Shallow Water Anchor grabbed Best Boating Accessory honors. Minn Kotas new Raptor debuts two industry-first technologies: Active AnchoringTM, which monitors anchoring force and adjusts to stay pinned to the bottom, and Auto-Bottom ModeTM, which automatically detects bottom hardness to determine the right amount of anchoring force.WEBCAST The Company will host a conference call and audio web cast at 11:00 a.m. Eastern Time on Friday, July 31, 2020. A live listen-only web cast of the conference call may be accessed at Johnson Outdoors home page. A replay of the call will be available for 30 days on the Internet.About Johnson Outdoors Inc. JOHNSON OUTDOORS is a leading global innovator of outdoor recreation equipment and technologies that inspire more people to experience the awe of the great outdoors. The company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft Recreation, Fishing, Diving and Camping. Johnson Outdoors iconic brands include: Old Town canoes and kayaks; Ocean KayakTM; Carlisle paddles; Minn Kota fishing motors, batteries and anchors; Cannon downriggers; Humminbird marine electronics and charts; SCUBAPRO dive equipment; Jetboil outdoor cooking systems; and, Eureka!camping and hiking equipment. Visit Johnson Outdoors at Harbor StatementCertain matters discussed in this press release are forward-looking statements, intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact are considered forward-looking statements. These statements may be identified by the use of forward-looking words or phrases such as anticipate, believe, confident, could, expect, intend, may, planned, potential, should, will, would or the negative of those terms or other words of similar meaning. Such forward-looking statements are subject to certain risks and uncertainties, which could cause actual results or outcomes to differ materially from those currently anticipated. Factors that could affect actual results or outcomes include the matters described under the caption Risk Factors in Item 1A of the Companys Form 10-K filed with the Securities and Exchange Commission on December 6, 2019, the update to such Risk Factors section in Part II, Item 1A in the Companys Form 10-Q to be filed with the Securities and Exchange Commission on July 31, 2020, and the following: changes in economic conditions, consumer confidence levels and discretionary spending patterns in key markets; uncertainties stemming from changes in U.S. 