Johnson Outdoors Sees Tariffs Impact Profits
Net income slipped 7% to $22,066,000 from $23,770,000 in the fiscal third quarter ended Jun. 28 on 3% higher sales at $176,253,000 up from $170,779,000. But gross margin contracted 120 basis points to 45.2% hit by $1.9 million in tariffs on Chinese components. Fishing products revenue gained 5% to $128.2 million on strong Minn Kota and Humminbird sales, but operating profit was down 10% to $29.7 ... Log in to view full article.