Although a negative $12.2 million swing in taxes pushed down net income to $235,000 compared to $4,056,000 last year for the quarter ended Dec. 29, operating income jumped to $7,037,000 compared to $472,000 on a 24% increase in sales to $116,579,000 from $93,729,000. The tax rate included a $6.4 million charge in the valuation of deferred tax assets and repatriation of overseas profits as a result of the new tax law.

The results were driven by the ongoing strength in the Minn Kota and Humminbird fishing lines where operating income nearly ... Log in to view full article.