Johnson Outdoors drops after earnings miss; warns of tariff impact
04/02/2019 15:45
** Shares of fishing and camping equipment maker JOUT.O
down 5.27 pct at $58.98 as the co reports a 10 pct dip in Q1 rev
** JOUT plunges to 6-week-low, on track to post worst day
since Dec. 11
** Co says diving sales were hit by weakness in Asian
markets and a strong dollar, while shift in product releases led
to unfavorable year-over-year comparisons in fishing sales
** Co reports Q1 EPS of 35 cents vs Refinitiv IBES est 39
cents, rev of $104.4 mln vs est $116.8 mln
** Gross margin improved q-o-q despite a $0.7 mln hit from
recently enacted tariffs, but sees a potential $6 mln-9 mln
impact on fiscal 2019 profits urn:newsml:reuters.com:*:nGNX2wv6gj
** JOUT down 1.2 pct YTD, after dropping 5.4 pct in 2018
(Reporting by Sruthi Shankar in Bengaluru)
((sruthi.shankar.reuters.com@reuters.net))