UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of the
Securities Exchange
Act of 1934
| Date of Report (Date of earliest event reported): |
November 10, 2003 |
| Johnson Outdoors Inc. |
| (Exact name of registrant as specified in its charter) |
| Wisconsin |
0-16255 |
39-1536083 |
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
| 555 Main Street, Racine, Wisconsin 53403 |
| (Address of principal executive offices, including zip code) |
(262) 631–6600 |
| (Registrant’s telephone number, including area code) |
| Item 7. | Financial Statements and Exhibits. | ||
| (a) | Not applicable. | ||
| (b) | Not applicable. | ||
| (c) | Exhibits. The following exhibit is being furnished with this Current
Report on Form 8-K (this “Report”): | ||
| 99 | Press Release dated November 10, 2003. | ||
| Item 12. | Results of Operations and Financial Condition. | ||
| On November 10, 2003, Johnson Outdoors Inc. (the “Company”) issued a press release announcing the Company’s preliminary fiscal year 2003 earnings guidance (the “Press Release”). A copy of the Press Release is being furnished as Exhibit 99 to this Report. | |||
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 10, 2003
| JOHNSON OUTDOORS INC. | ||
|---|---|---|
| By: | /s/ Paul Lehmann | |
| Paul Lehmann Its: Vice President and Chief Financial Officer, Secretary (Principal Financial and Accounting Officer) | ||
JOHNSON OUTDOORS INC.
Exhibit Index to Current Report on Form 8-K
Exhibit Number |
|
99 |
Press Release dated November 10, 2003. |
Exhibit 99
News Release
| AT JOHNSON OUTDOORS: | AT FRB|WEBER SHANDWICK: | |
|---|---|---|
| Paul A. Lehmann VP and Chief Financial Officer (262) 631-6600 |
Cynthia Georgeson Media Contact (262) 631-6600 |
Larry Stein General Inquiries (312) 266-7800 |
FOR IMMEDIATE RELEASE
MONDAY, NOVEMBER 10, 2003
Johnson Outdoors
Announces Preliminary 2003 Earnings Guidance
RACINE, WISCONSIN, November 10, 2003….Johnson Outdoors Inc. (JOUT/Nasdaq) announced today it anticipates its fiscal year 2003 earnings per diluted share to be in the range of $0.60 — $0.63 (pending completion of the audit of the Company’s financial statements). The earnings range reflects a projected fourth quarter loss of $0.43 — $0.46 per diluted share.
A strong fourth quarter finish by the Motors and Outdoor Equipment businesses was offset by continued operational issues in the Company’s Watercraft business. Watercraft results and fourth quarter charges totaling slightly more than $4.0 million ($0.29 per diluted share) drove the operating loss for the quarter. These charges, which stem from operational changes to improve long-term efficiency and rationalize the Company’s manufacturing capacity and inventory investments, include:
| • | Costs to close the Miami, Florida Extrasport facility and outsource production ($0.9 million); | |
| • | Reorganizations in the Watercraft and Outdoor Equipment businesses ($0.7 million); and | |
| • | Production and product line changes and associated write-downs of inventory, tooling and equipment ($2.4 million). |
The Company currently expects to announce its 2003 financial results on November 20, 2003. The Company’s regular quarterly conference call is scheduled for 11:00 a.m. EST on that date.
ABOUT JOHNSON OUTDOORS
INC.
(JOUT/Nasdaq)
Johnson Outdoors is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The Company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Motors, Diving and Outdoor Equipment. Johnson Outdoors’ familiar brands include, among others: Old Town® canoes and kayaks; Ocean™, Necky™ and Dimension® kayaks; Minn Kota® motors; Scubapro® and SnorkelPro; Uwatec®; and Eureka® tents. Helen Johnson-Leipold is Chairman & CEO of the Company which has more than 25 locations around the world and employs 1,400 people.
Visit Johnson Outdoors
online at www.johnsonoutdoors.com.
Certain matters discussed in this press release are “forward-looking statements,” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the Company’s earnings projections for its fiscal 2003 fourth quarter and year end. Such forward-looking statements are subject to certain risks and uncertainties which could cause actual results or outcomes to differ materially from those currently anticipated. Factors that could affect actual results or outcomes include unanticipated issues arising out of the closing of the Company’s books and the completion of its fiscal 2003 audit. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.