Company: JOUT
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001140361-25-017047
Chunk: 35

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 35
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 main driver of the $3,748 decrease over the prior year quarter was a $3,370 decrease in net investment gains and earnings on the assets related to the Company’s non-qualified deferred compensation plan in the current year quarter over the prior year quarter, entirely offset as a reduction to operating expense as noted above.  For the three months ended March 28, 2025, foreign currency exchange losses were $20 compared to gains of $46 for the three months ended March 29, 2024.   

 For the six months ended March 28, 2025, other expense was $974, compared to other income of $7,141 in the six months ended March 29, 2024.  The $8,115 decrease was mostly attributable to a $5,961 decrease in net investment gains and earnings on the assets related to the Company’s non-qualified deferred compensation plan in the current year to date period over the prior year to date period, entirely offset as a reduction to operating expense as noted above.   Additionally, the prior year to date period included a gain on the sale of a building of approximately $1,900. For the six months ended March 28, 2025, foreign currency exchange gains were $183 compared to losses of $145 for the six months ended March 29, 2024.

Income Tax Expense

The Company’s provision for income taxes is based upon estimated annual effective tax rates in the tax jurisdictions in which the Company operates.  The effective tax rates for the three and six month periods ended March 28, 2025 were an expense of 44.6% and a benefit of 12.1%, respectively, compared to expense of 28.4% and 31.4% in the corresponding periods of the prior year. 

Net Income/Loss

Net income for the three months ended March 28, 2025 was $2,304, or $0.22 per diluted common class A and B share, compared to $2,156, or $0.21 per diluted common class A and B share, for the second quarter of the prior fiscal year.

Net loss for the six months ended March 28, 2025 was $12,986, or $1.26 per diluted common class A and B share, compared to net income of $6,111, or $0.59 per diluted common class A and B share, for the second quarter of the prior fiscal year.

Liquidity and Financial Condition