NEW YORK, NY (24 July 2003) - Johnson Outdoors Inc. JOUT.O , which makes recreation equipment, on Thursday said quarterly earnings fell, largely due to charges from a recall of defective scuba dive computers and a discontinued acquisition. For the fiscal third quarter ended June 27, the Racine, Wisconsin-based company said net income fell to $5.1 million, or 59 cents a share, from $6.4 million, or 75 cents a share, a year earlier. Last week, the company said it expected earnings of 57 cents to 61 cents per share, including the special charges. The $3.6 million recall and acquisition charges lowered earnings by $2.5 million, or 29 cents per share, it said. Sales fell to $108.5 million from $116.7 million. | | In early Thursday trade on Nasdaq, Johnson shares were unchanged from Wednesday's close of $14.06. SOURCE - Reuters |
