Johnson Outdoors Inc. (NASDAQ: JOUT) released its fiscal‑year 2025 financial results, showing total revenue of $592.4 million—essentially unchanged from the $592.8 million reported for fiscal 2024. The flat top line reflects a mix of modest growth in the Fishing and Diving segments, offset by a 13 % decline in Camping and Watercraft Recreation after the company exited the Eureka! brand.
The company posted a net loss of $34.3 million, or $3.35 per diluted share, compared with a $26.5 million loss ($2.60 per share) in the prior year. The larger loss is largely attributable to a $25.9 million non‑cash tax reserve that was recorded in 2025, which does not affect operating cash flow.
Operating loss narrowed to $16.2 million from $43.5 million in 2024, driven by a 1.2‑percentage‑point increase in gross margin to 35.1 % versus 33.9 % last year. The margin expansion was achieved through better overhead absorption and a reduction in inventory reserves, while operating expenses fell by $20.2 million, helped by the elimination of the 2024 goodwill impairment and lower promotional spend.
Cash and investments stood at $176.4 million as of October 3, 2025, up $14.4 million from the prior year, and the company remains debt‑free. Capital expenditures for the year were $16.0 million, down from $22.0 million in 2024, reflecting a focus on maintaining a strong liquidity position while investing in high‑return initiatives.
Management highlighted continued momentum in the second half of the year, citing new product launches in the Fishing segment that drove a 2 % revenue increase, and emphasized a strategic focus on e‑commerce and operational efficiencies. CEO Helen Johnson‑Leipold noted that the company’s “debt‑free balance sheet and improved margins position us well to capitalize on demand recovery in the outdoor recreation market.”
The company also reported fourth‑quarter results that beat revenue estimates by $18 million (actual $135.8 million versus consensus $117.2 million) but missed earnings estimates, reporting a GAAP EPS of –$2.83 against an estimate of –$0.68. The earnings miss was driven by higher‑than‑expected operating costs and the impact of the tax reserve, underscoring the need for continued cost discipline as the company pursues growth.
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