Johnson Outdoors: Jumps on Q4 profit vs. yr-ago loss, higher revenue
06/12/2019 17:12
** Watercraft maker's shares JOUT.O jump 11% to a near
five-month high of $72.81 after posting a profit vs.
year-earlier loss and higher revenue in Q4
** JOUT set for best day in seven months
** Total net sales rise 14% to $104 mln in Q4 mainly due to
strength at its fishing segment, its biggest
** JOUT posts Q4 EPS of 39 cents, compared with year-ago
loss of 49 cents per share, as certain product components were
excluded from Section 301 tariffs in Q4 urn:newsml:reuters.com:*:nGNX3XyWDC
** Heading into FY 2020, we expect continued moderate sales
growth - CFO David Johnson
** Tariffs are estimated to have a negative impact of $5 mln
to $6 mln on FY 2020 operating profit, which includes
foreseeable mitigation efforts at this time - CFO
** More than 61,000 shares traded, nearly twice their 25-day
moving average volume
** JOUT up 24% this year, compared with its 5% decline last
year
(Reporting by Praveen Paramasivam in Bengaluru)
((Praveen.Paramasivam@ThomsonReuters.com))