Wisconsin
(State
or other jurisdiction of
incorporation
or organization)
|
39-1536083
(I.R.S.
Employer Identification No.)
|
Index
|
Page
No.
|
|||
PART
I
|
FINANCIAL
INFORMATION
|
|||
Item
1.
|
Financial
Statements
|
|||
Condensed
Consolidated Statements of
Operations
– Three and nine months ended
June
29, 2007 and June 30, 2006
|
1
|
|||
Condensed
Consolidated Balance Sheets -
June
29, 2007, September 29, 2006 and June 30, 2006
|
2
|
|||
Condensed
Consolidated Statements of Cash Flows -
nine
months ended June 29, 2007 and June 30, 2006
|
3
|
|||
Notes
to Condensed Consolidated Financial Statements
|
4
|
|||
Item
2.
|
Management’s
Discussion and Analysis of Financial
Condition
and Results of Operations
|
13
|
||
Item
3.
|
Quantitative
and Qualitative Disclosures About Market Risk
|
21
|
||
Item
4.
|
Controls
and Procedures
|
21
|
||
PART
II
|
OTHER
INFORMATION
|
|||
Item
1.
|
Legal
Proceedings
|
22
|
||
Item
6.
|
Exhibits
|
22
|
||
Signatures
|
23
|
|||
Exhibit
Index
|
24
|
(thousands,
except per share data)
|
Three
Months Ended
|
Nine
Months Ended
|
||||||||||||||
June
29
2007
|
June
30
2006
|
June
29
2007
|
June
30
2006
|
|||||||||||||
Net
sales
|
$ |
150,570
|
$ |
135,540
|
$ |
344,394
|
$ |
315,476
|
||||||||
Cost
of sales
|
86,708
|
78,133
|
204,966
|
184,300
|
||||||||||||
Gross
profit
|
63,862
|
57,407
|
139,428
|
131,176
|
||||||||||||
Operating
expenses:
|
||||||||||||||||
Marketing
and selling
|
32,640
|
29,362
|
80,106
|
72,088
|
||||||||||||
Administrative
management, finance and information systems
|
8,665
|
9,432
|
27,805
|
26,073
|
||||||||||||
Litigation
settlement
|
4,400
|
—
|
4,400
|
—
|
||||||||||||
Research
and development
|
3,090
|
2,901
|
9,235
|
8,395
|
||||||||||||
Losses
related to New York flood
|
—
|
1,200
|
—
|
1,200
|
||||||||||||
Profit
sharing
|
390
|
600
|
1,774
|
2,051
|
||||||||||||
Total
operating expenses
|
49,185
|
43,495
|
123,320
|
109,807
|
||||||||||||
Operating
profit
|
14,677
|
13,912
|
16,108
|
21,369
|
||||||||||||
Interest
income
|
(106 | ) | (118 | ) | (465 | ) | (340 | ) | ||||||||
Interest
expense
|
1,572
|
1,573
|
4,128
|
3,915
|
||||||||||||
Other
(income) expense, net
|
(528 | ) |
167
|
(658 | ) |
458
|
||||||||||
Income
before income taxes
|
13,739
|
12,290
|
13,103
|
17,336
|
||||||||||||
Income
tax expense
|
5,471
|
5,727
|
5,354
|
7,694
|
||||||||||||
Net
income
|
$ |
8,268
|
$ |
6,563
|
$ |
7,749
|
$ |
9,642
|
||||||||
Basic
earnings per common share
|
$ |
0.91
|
$ |
0.73
|
$ |
0.86
|
$ |
1.07
|
||||||||
Diluted
earnings per common share
|
$ |
0.89
|
$ |
0.72
|
$ |
0.84
|
$ |
1.05
|
||||||||
Cash dividends declared per Class A common share | $ | 0.055 | $ |
—
|
$ | 0.055 | $ |
—
|
||||||||
Cash dividends declared per Class B common share | $ | 0.050 | $ |
—
|
$ | 0.050 | $ |
—
|
(thousands,
except share data)
|
June
29
2007
(unaudited)
|
September
29
2006
(audited)
|
June
30
2006
(unaudited)
|
|||||||||
ASSETS
|
||||||||||||
Current
assets:
|
||||||||||||
Cash
and cash equivalents
|
$ |
35,426
|
$ |
51,689
|
$ |
43,629
|
||||||
Accounts
receivable, less allowance for doubtful
accounts
of $2,585, $2,318 and $2,518, respectively
|
107,851
|
52,844
|
94,770
|
|||||||||
Inventories,
net
|
85,097
|
63,828
|
65,388
|
|||||||||
Deferred
income taxes
|
9,859
|
9,462
|
8,315
|
|||||||||
Other
current assets
|
7,454
|
7,074
|
8,337
|
|||||||||
Total
current assets
|
245,687
|
184,897
|
220,439
|
|||||||||
Property,
plant and equipment, net
|
33,522
|
31,600
|
31,344
|
|||||||||
Deferred
income taxes
|
15,205
|
14,576
|
19,611
|
|||||||||
Goodwill
|
51,073
|
42,947
|
44,835
|
|||||||||
Intangible
assets, net
|
4,550
|
4,590
|
3,823
|
|||||||||
Other
assets
|
6,160
|
5,616
|
5,338
|
|||||||||
Total
assets
|
$ |
356,197
|
$ |
284,226
|
$ |
325,390
|
||||||
LIABILITIES
AND SHAREHOLDERS' EQUITY
|
||||||||||||
Current
liabilities:
|
||||||||||||
Short-term
notes payable
|
$ |
51,042
|
$ |
—
|
$ |
26,000
|
||||||
Current
maturities of long-term debt
|
10,801
|
17,000
|
17,001
|
|||||||||
Accounts
payable
|
29,131
|
17,506
|
21,501
|
|||||||||
Accrued
liabilities:
|
||||||||||||
Salaries,
wages and benefits
|
13,186
|
16,577
|
17,495
|
|||||||||
Accrued
discounts and returns
|
7,155
|
5,047
|
6,050
|
|||||||||
Accrued
interest payable
|
330
|
1,118
|
384
|
|||||||||
Income
taxes payable
|
5,713
|
1,258
|
6,915
|
|||||||||
Litigation
settlement
|
4,400
|
—
|
—
|
|||||||||
Other
|
21,575
|
16,144
|
19,690
|
|||||||||
Total
current liabilities
|
143,333
|
74,650
|
115,036
|
|||||||||
Long-term
debt, less current maturities
|
10,006
|
20,807
|
20,806
|
|||||||||
Other
liabilities
|
9,081
|
7,888
|
8,023
|
|||||||||
Total
liabilities
|
162,420
|
103,345
|
143,865
|
|||||||||
Shareholders’
equity:
|
||||||||||||
Preferred
stock: none issued
|
—
|
—
|
—
|
|||||||||
Common
stock:
|
||||||||||||
Class
A shares issued:
June
29, 2007, 7,949,087;
September
29, 2006, 7,858,800;
June
30, 2006, 7,858,800
|
397
|
393
|
393
|
|||||||||
Class
B shares issued (convertible into Class A):
June
29, 2007, 1,217,939;
September
29, 2006, 1,217,977;
June
30, 2006, 1,217,977
|
61
|
61
|
61
|
|||||||||
Capital
in excess of par value
|
56,620
|
55,459
|
55,325
|
|||||||||
Retained
earnings
|
125,266
|
118,015
|
118,942
|
|||||||||
Accumulated
other comprehensive income
|
11,433
|
6,953
|
6,804
|
|||||||||
Total
shareholders’ equity
|
$ |
193,777
|
$ |
180,881
|
$ |
181,525
|
||||||
Total
liabilities and shareholders’ equity
|
$ |
356,197
|
$ |
284,226
|
$ |
325,390
|
(thousands)
|
Nine
Months Ended
|
|||||||
June
29
2007
|
June
30
2006
|
|||||||
CASH
USED FOR OPERATING ACTIVITIES
|
||||||||
Net
income
|
$ |
7,749
|
$ |
9,642
|
||||
Adjustments
to reconcile net income to net cash used for operating
activities:
|
||||||||
Depreciation
|
6,850
|
6,170
|
||||||
Amortization
of intangible assets
|
74
|
261
|
||||||
Amortization
of deferred financing costs
|
132
|
132
|
||||||
Stock
based compensation
|
489
|
494
|
||||||
Deferred
income taxes
|
(1,026 | ) | (105 | ) | ||||
Change
in operating assets and liabilities, net of effect of
businesses
acquired or sold:
|
||||||||
Accounts
receivable, net
|
(52,886 | ) | (44,530 | ) | ||||
Inventories,
net
|
(18,391 | ) | (10,488 | ) | ||||
Accounts
payable and accrued liabilities
|
21,624
|
13,991
|
||||||
Other,
net
|
499
|
(3,285 | ) | |||||
(34,886 | ) | (27,718 | ) | |||||
CASH
USED FOR INVESTING ACTIVITIES
|
||||||||
Payments
for purchase of business
|
(9,595 | ) | (9,863 | ) | ||||
Additions
to property, plant and equipment
|
(8,255 | ) | (6,347 | ) | ||||
(17,850 | ) | (16,210 | ) | |||||
CASH
PROVIDED BY FINANCING ACTIVITIES
|
||||||||
Net
borrowings from short-term notes payable
|
51,040
|
26,000
|
||||||
Principal
payments on senior notes and other long-term debt
|
(17,001 | ) | (13,000 | ) | ||||
Borrowings
on long-term debt
|
—
|
7
|
||||||
Excess
tax benefits from stock based compensation
|
37
|
25
|
||||||
Common
stock transactions
|
663
|
150
|
||||||
34,739
|
13,182
|
|||||||
Effect
of foreign currency exchange rate changes on cash and
cash
equivalents
|
1,734
|
2,264
|
||||||
Decrease
in cash and cash equivalents
|
(16,263 | ) | (28,482 | ) | ||||
CASH
AND CASH EQUIVALENTS
|
||||||||
Beginning
of period
|
51,689
|
72,111
|
||||||
End
of period
|
$ |
35,426
|
$ |
43,629
|
Three
Months Ended
|
Nine
Months Ended
|
|||||||||||||||
June
29
2007
|
June
30
2006
|
June
29
2007
|
June
30
2006
|
|||||||||||||
Net
income
|
$ |
8,268
|
$ |
6,563
|
$ |
7,749
|
$ |
9,642
|
||||||||
Weighted
average common shares – Basic
|
9,054,276
|
8,996,414
|
9,029,318
|
8,985,578
|
||||||||||||
Dilutive
stock options and restricted stock
|
207,909
|
154,549
|
209,182
|
165,827
|
||||||||||||
Weighted
average common shares - Diluted
|
9,262,185
|
9,150,963
|
9,238,500
|
9,151,405
|
||||||||||||
Basic
earnings per common share
|
$ |
0.91
|
$ |
0.73
|
$ |
0.86
|
$ |
1.07
|
||||||||
Diluted
earnings per common share
|
$ |
0.89
|
$ |
0.72
|
$ |
0.84
|
$ |
1.05
|
|
|
|||||||||||||||
Shares
|
|
Weighted
Average Exercise Price
|
|
Weighted
Average Remaining Contractual Term (Years)
|
|
Aggregate
Intrinsic Value
|
||||||||||
Outstanding
at September 29, 2006
|
332,533
|
$ |
9.03
|
|||||||||||||
Exercised
|
(44,190 | ) |
10.94
|
|||||||||||||
Canceled
|
(1,950 | ) |
19.88
|
|||||||||||||
Outstanding
and exercisable at June 29, 2007
|
286,393
|
$ |
8.66
|
3.2
|
$ |
3,285
|
Shares
|
Weighted
Average
Grant
Price
|
|||||||
Unvested
restricted stock at September 29, 2006
|
76,120
|
$ |
16.88
|
|||||
Restricted
stock grants
|
43,328
|
18.42
|
||||||
Restricted
stock vested
|
(6,850 | ) |
18.25
|
|||||
Restricted
stock canceled
|
(7,496 | ) |
17.35
|
|||||
Unvested
restricted stock at June 29, 2007
|
105,102
|
$ |
17.39
|
|
|
|||||||||||||||
|
Three
Months Ended
|
|
Nine
Months Ended
|
|||||||||||||
June
29
2007
|
June
30
2006
|
June
29
2007
|
June
30
2006
|
|||||||||||||
Components
of net periodic benefit cost:
|
||||||||||||||||
Service
cost
|
$ |
176
|
$ |
157
|
$ |
528
|
$ |
471
|
||||||||
Interest
on projected benefit obligation
|
231
|
236
|
694
|
708
|
||||||||||||
Less
estimated return on plan assets
|
218
|
206
|
654
|
619
|
||||||||||||
Amortization
of unrecognized:
|
||||||||||||||||
Net
loss
|
67
|
28
|
201
|
84
|
||||||||||||
Prior
service cost
|
3
|
6
|
7
|
18
|
||||||||||||
Transition
asset
|
(1 | ) |
—
|
(2 | ) |
—
|
||||||||||
Net
amount recognized
|
$ |
258
|
$ |
221
|
$ |
774
|
$ |
662
|
June
29
2007
|
September
29
2006
|
June
30
2006
|
||||||||||
Raw
materials
|
$ |
32,513
|
$ |
24,895
|
$ |
27,638
|
||||||
Work
in process
|
3,460
|
4,194
|
3,164
|
|||||||||
Finished
goods
|
52,944
|
38,185
|
37,754
|
|||||||||
88,917
|
67,274
|
68,556
|
||||||||||
Less
reserves
|
3,820
|
3,446
|
3,168
|
|||||||||
$ |
85,097
|
$ |
63,828
|
$ |
65,388
|
June
29
2007
|
June
30
2006
|
|||||||
Balance
at beginning of period
|
$ |
3,844
|
$ |
3,287
|
||||
Expense
accruals for warranties issued during the period
|
3,196
|
3,299
|
||||||
Warranty
accruals assumed
|
39
|
398
|
||||||
Less
current period warranty claims paid
|
(1,959 | ) | (2,779 | ) | ||||
Balance
at end of period
|
$ |
5,120
|
$ |
4,205
|
|
|
|||||||||||||||
|
Three
Months Ended
|
|
Nine
Months Ended
|
|||||||||||||
June
29
2007
|
June
30
2006
|
June
29
2007
|
June
30
2006
|
|||||||||||||
Net
income
|
$ |
8,268
|
$ |
6,563
|
$ |
7,749
|
$ |
9,642
|
||||||||
Translation
adjustments
|
1,136
|
5,410
|
4,480
|
4,802
|
||||||||||||
Comprehensive
income
|
$ |
9,404
|
$ |
11,973
|
$ |
12,229
|
$ |
14,444
|
|
|
|
|
|||||||||||||
|
Employee
Termination Costs
|
|
Contract
Exit Costs
|
|
Other
Exit
Costs
|
|
Total
|
|||||||||
Accrued
liabilities as of September 29, 2006
|
$ |
—
|
$ |
—
|
$ |
—
|
$ |
—
|
||||||||
Activity
during quarter ended June 29, 2007:
|
||||||||||||||||
Additional
charges (recoveries)
|
||||||||||||||||
Charges
to earnings
|
463
|
—
|
47
|
510
|
||||||||||||
Settlement
payments and other
|
—
|
—
|
—
|
—
|
||||||||||||
Accrued
liabilities as of June 29, 2007
|
$ |
463
|
$ |
—
|
$ |
47
|
$ |
510
|
|
|
|||||||||||||||
|
Three
Months Ended
|
|
Nine
Months Ended
|
|||||||||||||
June
29
2007
|
June
30
2006
|
June
29
2007
|
June
30
2006
|
|||||||||||||
Net
sales:
|
||||||||||||||||
Marine
electronics:
|
||||||||||||||||
Unaffiliated
customers
|
$ |
70,882
|
$ |
57,525
|
$ |
164,768
|
$ |
139,046
|
||||||||
Interunit
transfers
|
124
|
60
|
242
|
86
|
||||||||||||
Outdoor
equipment:
|
||||||||||||||||
Unaffiliated
customers
|
17,184
|
20,416
|
46,432
|
53,437
|
||||||||||||
Interunit
transfers
|
36
|
14
|
62
|
30
|
||||||||||||
Watercraft:
|
||||||||||||||||
Unaffiliated
customers
|
37,034
|
35,466
|
71,466
|
67,922
|
||||||||||||
Interunit
transfers
|
112
|
67
|
150
|
139
|
||||||||||||
Diving:
|
||||||||||||||||
Unaffiliated
customers
|
25,238
|
21,913
|
61,375
|
54,686
|
||||||||||||
Interunit
transfers
|
223
|
352
|
535
|
517
|
||||||||||||
Other/Corporate
|
232
|
220
|
353
|
385
|
||||||||||||
Eliminations
|
(495 | ) | (493 | ) | (989 | ) | (772 | ) | ||||||||
$ |
150,570
|
$ |
135,540
|
$ |
344,394
|
$ |
315,476
|
|||||||||
Operating
profit:
|
||||||||||||||||
Marine
electronics
|
$ |
12,551
|
$ |
9,852
|
$ |
21,559
|
$ |
20,713
|
||||||||
Outdoor
equipment
|
2,806
|
2,476
|
5,681
|
7,094
|
||||||||||||
Watercraft
|
(1,199 | ) |
3,047
|
(4,093 | ) | (584 | ) | |||||||||
Diving
|
3,014
|
2,143
|
3,769
|
3,178
|
||||||||||||
Other/Corporate
|
|
(2,495 | ) | (3,606 | ) | (10,808 | ) | (9,032 | ) | |||||||
$ |
14,677
|
$ |
13,912
|
$ |
16,108
|
$ |
21,369
|
|||||||||
Total
assets (end of period):
|
||||||||||||||||
Marine
electronics
|
$ |
115,163
|
$ |
87,922
|
||||||||||||
Outdoor
equipment
|
32,230
|
32,237
|
||||||||||||||
Watercraft
|
79,841
|
71,681
|
||||||||||||||
Diving
|
115,016
|
100,399
|
||||||||||||||
Other/Corporate
|
13,947
|
33,151
|
||||||||||||||
$ |
356,197
|
$ |
325,390
|
|
§
|
Marine
Electronics sales rose 23.3% above last year’s third quarter due to strong
reception to new products in the Minn Kota® and
Humminbird® brands.
|
|
§
|
Watercraft
sales increased 4.5% over last year’s third quarter in response to
favorable marketplace reception to new products in the Company’s paddle
sport brand portfolio and continued growth in key international
markets.
|
|
§
|
Diving
sales increased 14.3% ahead of last year’s third quarter due to improved
performance by the SCUBAPRO® brand in Europe; the successful European
launch of a new UWATEC® dive computer; and the acquisition of the Seemann
Sub™ brand on April 2, 2007, which added $2.3 million in sales this
quarter.
|
|
§
|
Outdoor
Equipment sales were down 15.7% due primarily to slowing of military
sales, which declined 21.9% versus the prior year
quarter.
|
|
§
|
Successful
new product launches in Marine Electronics, particularly Minn Kota®, Humminbird®
and Cannon® brands which posted double-digit revenue growth during the
current year nine-month period.
|
|
§
|
Strong
demand behind new paddle sport product launches and international
market
expansion in the Company’s paddle sport
brands.
|
|
§
|
Improved
performance in European Diving operations due to growth in SCUBAPRO® and
the acquisition of the Seemann Sub™
brand.
|
Year
Ended
|
||||||||||||||||||||||||
September
29, 2006
|
September
30, 2005
|
October
1, 2004
|
||||||||||||||||||||||
Quarter
Ended
|
Net
Sales
|
Operating
Profit
(Loss)
|
Net
Sales
|
Operating
Profit
(Loss)
|
Net
Sales
|
Operating
Profit
(Loss)
|
||||||||||||||||||
December
|
19 | % | (4) | % | 20 | % |
—
|
% | 18 | % | 7 | % | ||||||||||||
March
|
27
|
40
|
28
|
54
|
27
|
45
|
||||||||||||||||||
June
|
34
|
67
|
32
|
76
|
34
|
72
|
||||||||||||||||||
September
|
20
|
(3) |
20
|
(30 | ) |
21
|
(24 | ) | ||||||||||||||||
100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % |
|
||||||||||||||||
(millions) |
Three
Months Ended
|
Nine
Months Ended
|
||||||||||||||
June
29
2007
|
June
30
2006
|
June
29
2007
|
June
30
2006
|
|||||||||||||
Net
sales:
|
||||||||||||||||
Marine
electronics
|
$ |
71.0
|
$ |
57.6
|
$ |
165.0
|
$ |
139.1
|
||||||||
Outdoor
equipment
|
17.2
|
20.4
|
46.4
|
53.5
|
||||||||||||
Watercraft
|
37.1
|
35.5
|
71.6
|
68.1
|
||||||||||||
Diving
|
25.5
|
22.3
|
61.9
|
55.2
|
||||||||||||
Other/eliminations
|
(0.2 | ) | (0.3 | ) | (0.5 | ) | (0.4 | ) | ||||||||
Total
|
$ |
150.6
|
$ |
135.5
|
$ |
344.4
|
$ |
315.5
|
||||||||
Operating
profit:
|
||||||||||||||||
Marine
electronics
|
$ |
12.6
|
$ |
9.9
|
$ |
21.6
|
$ |
20.7
|
||||||||
Outdoor
equipment
|
2.8
|
2.5
|
5.7
|
7.1
|
||||||||||||
Watercraft
|
(1.2 | ) |
3.0
|
(4.1 | ) | (0.6 | ) | |||||||||
Diving
|
3.0
|
2.1
|
3.8
|
3.2
|
||||||||||||
Other/eliminations
|
(2.5 | ) | (3.6 | ) | (10.9 | ) | (9.0 | ) | ||||||||
Total
|
$ |
14.7
|
$ |
13.9
|
$ |
16.1
|
$ |
21.4
|
(millions) |
Nine
Months Ended
|
|||||||
June
29
2007
|
June
30
2006
|
|||||||
Cash
provided by (used for):
|
||||||||
Operating
activities
|
$ | (34.9 | ) | $ | (27.7 | ) | ||
Investing
activities
|
(17.8 | ) | (16.2 | ) | ||||
Financing
activities
|
34.7
|
13.1
|
||||||
Effect
of exchange rate changes
|
1.7
|
2.3
|
||||||
Decrease
in cash and cash equivalents
|
$ | (16.3 | ) | $ | (28.5 | ) |
Payment
Due by Period
|
||||||||||||||||||||
(millions)
|
Total
|
|
Remainder 2007
|
2008/09
|
2010/11
|
2012
&
After
|
||||||||||||||
Long-term
debt
|
$ |
20.8
|
$ |
—
|
$ |
20.8
|
$ |
—
|
$ |
—
|
||||||||||
Short-term
debt
|
51.0
|
51.0
|
—
|
—
|
—
|
|||||||||||||||
Operating
lease obligations
|
22.1
|
1.4
|
7.6
|
5.2
|
7.9
|
|||||||||||||||
Open
purchase orders
|
48.5
|
48.5
|
—
|
—
|
—
|
|||||||||||||||
Contractually
obligated interest payments
|
1.9
|
0.3
|
1.6
|
—
|
—
|
|||||||||||||||
Total
contractual obligations
|
$ |
144.3
|
$ |
101.2
|
$ |
30.0
|
$ |
5.2
|
$ |
7.9
|
(millions) |
Estimated
Impact on
|
||
Fair
Value
|
Income
Before Income Taxes
|
||
Interest
rate instruments
|
$
0.2
|
$
0.2
|
Item
6.
|
Exhibits
|
||
The
following exhibits are filed as part of this Form 10-Q:
|
|||
31.1
|
Certification
by the Chief Executive Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
|
||
31.2
|
Certification
by the Chief Financial Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
|
||
32
(1)
|
Certification
of Periodic Financial Report by the Chief Executive Officer and Chief
Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act
of
2002.
|
JOHNSON
OUTDOORS INC.
|
|
Signatures
Dated: August 1, 2007
|
|
/s/
Helen P.
Johnson-Leipold
|
|
Helen
P. Johnson-Leipold
Chairman
and Chief Executive Officer
|
|
/s/
David W.
Johnson
|
|
David
W. Johnson
Vice
President and Chief Financial Officer
(Chief
Financial and Accounting Officer)
|
Exhibit
Number
|
Description
|
31.1
|
Certification
by the Chief Executive Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
|
31.2
|
Certification
by the Chief Financial Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
|
32
(1)
|
Certification
of Periodic Financial Report by the Chief Executive Officer and Chief
Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act
of
2002.
|
2)
|
Based
on my knowledge, this report does not contain any untrue statement
of a
material fact or omit to state a material fact necessary to make
the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this
report;
|
3)
|
Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects
the
financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this
report;
|
4)
|
The
registrant’s other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal
control over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the registrant and
have:
|
|
a)
|
Designed
such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to
ensure
that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is
being
prepared;
|
|
b)
|
Designed
such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under our supervision,
to
provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting
principles;
|
|
c)
|
Evaluated
the effectiveness of the registrant’s disclosure controls and procedures
and presented in this report our conclusions about the effectiveness
of
the disclosure controls and procedures, as of the end of the period
covered by this report based on such evaluation;
and
|
|
d)
|
Disclosed
in this report any change in the registrant’s internal control over
financial reporting that occurred during the registrant’s most recent
fiscal quarter (the registrant’s fourth fiscal quarter in the case of an
annual report) that has materially affected, or is reasonably likely
to
materially affect, the registrant’s internal control over financial
reporting; and
|
5)
|
The
registrant’s other certifying officer and I have disclosed, based on our
most recent evaluation of internal control over financial reporting,
to
the registrant’s auditors and the audit committee of registrant’s board of
directors (or persons performing the equivalent
functions):
|
|
a)
|
All
significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are
reasonably likely to adversely affect the registrant’s ability to record,
process, summarize and report financial information;
and
|
|
b)
|
Any
fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant’s internal control
over financial reporting.
|
Date:
|
August
1, 2007
|
/s/
Helen P.
Johnson-Leipold
|
|
Helen
P. Johnson-Leipold
Chairman
and Chief Executive Officer
|
1)
|
I
have reviewed this Quarterly Report on Form 10-Q of Johnson Outdoors
Inc.;
|
2)
|
Based
on my knowledge, this report does not contain any untrue statement
of a
material fact or omit to state a material fact necessary to make
the
statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this
report;
|
3)
|
Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects
the
financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this
report;
|
4)
|
The
registrant’s other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal
control over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the registrant and
have:
|
|
a)
|
Designed
such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to
ensure
that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is
being
prepared;
|
|
b)
|
Designed
such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under our supervision,
to
provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting
principles;
|
|
c)
|
Evaluated
the effectiveness of the registrant’s disclosure controls and procedures
and presented in this report our conclusions about the effectiveness
of
the disclosure controls and procedures, as of the end of the period
covered by this report based on such evaluation;
and
|
|
d)
|
Disclosed
in this report any change in the registrant’s internal control over
financial reporting that occurred during the registrant’s most recent
fiscal quarter (the registrant’s fourth fiscal quarter in the case of an
annual report) that has materially affected, or is reasonably likely
to
materially affect, the registrant’s internal control over financial
reporting; and
|
5)
|
The
registrant’s other certifying officer and I have disclosed, based on our
most recent evaluation of internal control over financial reporting,
to
the registrant’s auditors and the audit committee of registrant’s board of
directors (or persons performing the equivalent
functions):
|
|
a)
|
All
significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are
reasonably likely to adversely affect the registrant’s ability to record,
process, summarize and report financial information;
and
|
|
b)
|
Any
fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant’s internal control
over financial reporting.
|
Date:
|
August
1, 2007
|
/s/
David W.
Johnson
|
|
David
W. Johnson
Vice
President and Chief Financial Officer
Treasurer
|
/s/
Helen P.
Johnson-Leipold
|
Helen
P. Johnson-Leipold
Chairman
and Chief Executive Officer
August
1, 2007
|
/s/
David W.
Johnson
|
David
W. Johnson
Vice
President and Chief Financial Officer
Treasurer
August
1, 2007
|