johnsonjuly102007form8k.htm
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):  July 10, 2007

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)
 
(IRS 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)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
[     ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[     ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[     ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[     ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 

Section 8 – Other Events

Item 8.01           Other Events

On July 10, 2007, Johnson Outdoors Inc. (the "Company") issued a press release announcing that the Company reached a settlement with Confluence Holdings Corp. that will end a long-standing intellectual property dispute between the companies.  A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

Section 9 – Financial Statements and Exhibits

Item 9.01           Financial Statements and Exhibits
 
    (d)           Exhibits
 
            The following exhibit is furnished herewith:
 
             Exhibit 99.1 – Press Release of Johnson Outdoors Inc., issued July 10, 2007.
 
 
 
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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.
 
 
JOHNSON OUTDOORS INC.
 
 
Date:  July 12, 2007
By:  /s/ David W. Johnson                                       
 
        David W. Johnson,
        Vice President and Chief Financial Officer
 
 
 
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JOHNSON OUTDOORS INC.

Exhibit Index to Current Report on Form 8-K

Exhibit
Number 
 
99.1
Press Release Dated July 10, 2007.
 
 
 
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ex99-1tojuly102007form8k.htm
 
FOR IMMEDIATE RELEASE
 
At Johnson Outdoors Inc.
David Johnson
VP & Chief Financial Officer
262-631-6600
Cynthia Georgeson
VP - Worldwide Communication
262-631-6600

JOHNSON OUTDOORS ANNOUNCES SETTLEMENT

RACINE, WISCONSIN, July 10, 2007…..Johnson Outdoors Inc. (Nasdaq: JOUT), a global leader in innovative outdoor recreational products, today announced the Company has reached a settlement agreement with Confluence Holdings Corp. that will end a long-standing intellectual property dispute between the two companies.  While the terms of the agreement are confidential, the settlement does not constitute an admission of wrongdoing by either party and includes a one-time payment by Johnson Outdoors of $4.4 million which is expected to have an unfavorable impact on earnings in the third fiscal quarter.   The Company is scheduled to report Fiscal 2007 third quarter results on Thursday, July 26th at 11:00 a.m. Eastern Time.

“After weighing the costs, risks and business distractions associated with continued litigation of this matter against the potential benefit, it became clear that it was in the financial best interests of the Company and its shareholders to settle and move on,” said David W. Johnson, Vice President and Chief Financial Officer.

As reported in the Company’s 10K, the Company is subject to various legal actions and proceedings, and is insured against loss for certain of these matters.  The Company has made a claim for this matter, and at this time does not expect resolution in Fiscal 2007.   

ABOUT JOHNSON OUTDOORS INC.
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, Marine Electronics, Diving and Outdoor Equipment.  Johnson Outdoors' familiar brands
include, among others: Old Town® canoes and kayaks; Ocean Kayak™ and Necky®  kayaks; Lendal™ paddles; Escape® electric boats; Minn Kota® motors; Cannon® downriggers; Humminbird® and Fishin’ Buddy® fishfinders; SCUBAPRO®, UWATEC® and Seemann Sub™ dive equipment; Silva® compasses and digital instruments; and Eureka!® tents.

Visit Johnson Outdoors at http://www.johnsonoutdoors.com

 
 
 

 

 
SAFE HARBOR STATEMENT
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.  Statements other than statements of historical fact are considered forward-looking statements. 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 changes in consumer spending patterns; the Company’s success in implementing its strategic plan,  including its focus on innovation; actions of and disputes with companies that compete with the Company; the Company’s success in managing inventory; movements in foreign currencies or interest rates; the Company’s success in restructuring of its European Diving operations; unanticipated issues related to the Company’s military sales; the success of suppliers and customers; the ability of the Company to deploy its capital successfully; adverse weather conditions; and other risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission.  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.
 
 
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