Johnson Outdoors Inc. (NASDAQ:JOUT) Q2 2024 Earnings Conference Call May 3, 2024 11:00 AM ET

Company Participants

Pat Penman - VP of Marketing Services & Global Communication
Helen Johnson-Leipold - Chairman and CEO
David Johnson - VP and CFO

Conference Call Participants

Anthony Lebiedzinski - Sidoti & Company
Anna Glaessgen - B. Riley
Doug Asiello - Crawford

Operator

Hello, and welcome to the Johnson Outdoors Second Quarter 2024 Earnings Conference Call.

Today's call will be led by Helen Johnson-Leipold, Johnson Outdoors' Chairman and Chief Executive Officer. Also on the call is David Johnson, Vice President and Chief Financial Officer. [Operator Instructions] This call is being recorded. Your participation implies consent to our recording this call. If you do not agree to these terms, simply drop off the line.

I would now like to turn the call over to Pat Penman from Johnson Outdoors. Please go ahead, Ms. Penman.

Pat Penman

Thank you. Good morning, and thank you for joining us for our discussion of Johnson Outdoors' results for the 2024 fiscal second quarter. If you need a copy of today's news release, it is available on our website at johnsonoutdoors.com under Investor Relations. I also need to remind you that this conference may contain forward-looking statements. These statements are made on the basis of our current views and assumptions and are not guarantees of future performance.

Actual events may differ materially from those statements due to a number of factors, many beyond Johnson Outdoors' control. These risks and uncertainties include those listed in our press release and filings with the Securities and Exchange Commission. If you have any additional questions following the call, please contact Dave Johnson or myself.

It is now my pleasure to turn the call over to Helen Johnson-Leipold.

Helen Johnson-Leipold

Thanks, Pat. Good morning, everyone, and thank you for joining us.

I'll begin by addressing our results and giving perspective on the performance, and then I'll share the outlook for the business. Dave will provide more detailed financial review, and then we will take your questions. Sales in our second fiscal quarter ending March 2024 declined 15% to $175.9 million compared to $202.1 million in the prior year second quarter.

Year-to-date, company sales decreased 17% over last year's fiscal 6-month period. The company reported an operating loss of $250,000 for the second quarter compared to an operating profit of $11.4 million in the prior year second quarter. For the year-to-date period, total company operating loss declined to $200,000 compared to an operating profit of $16.9 million for the prior year-to-date period.