Company: JOUT
Filing Date: 2025-02-03
Form Type: 10-Q
Source: 0001140361-25-002853
Chunk: 34

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-02-03
Form: 10-Q
Item: Item 8
Chunk 34
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 decreased sales volumes year over year.  Inventories were $201,606 as of December 27, 2024, a decrease of $65,715, compared to $267,321 as of December 29, 2023.  The decrease is consistent with the Company's ongoing efforts to reduce inventory balances.  Accounts payable were $33,491 at December 27, 2024 compared to $43,403 as of December 29, 2023.

The Company’s cash flows from operating, investing and financing activities, as presented in the Company’s accompanying Condensed Consolidated Statements of Cash Flows, are summarized in the following table:

 Three months ended(thousands)December 27,2024December 29,2023Cash (used for) provided by:  Operating activities$(36,909)$(33,687)Investing activities(6,500)4,685 Financing activities(3,450)(3,588)Effect of foreign currency rate changes on cash(3,369)1,197 Decrease in cash and cash equivalents$(50,228)$(31,393)

Operating Activities

Cash used for operations totaled $36,909 for the three months ended December 27, 2024 compared to $33,687 during the corresponding period of the prior fiscal year.  The decrease in cash provided by operations over the prior year three month period was due primarily to lower income on decreased sales volumes between quarters, offset in part by cash provided by working capital reductions between quarters.  Depreciation and amortization charges were $4,803 for the three month period ended December 27, 2024 compared to $5,027 for the corresponding period of the prior year.  

Investing Activities

Cash used for investing activities totaled $6,500 for the three months ended December 27, 2024 compared to cash provided by investing activities of $4,685 for the corresponding period of the prior fiscal year. Current year cash used for investing activities reflects $12,180 paid to acquire a business, partially offset by maturity of investments of $9,764. The prior year period included proceeds from maturity of investments of $7,500, as well as proceeds from the sale of a building of $2,189.  Capital expenditures were $4,084 in the three months ended December 27, 2024, compared to $5,004 in the prior year to date period which included investments in expansion of Fishing facilities to