VANCOUVER, British Columbia and HOUSTON, Jan. 25, 2011 /PRNewswire/ -- FINCAD, the trusted global provider of financial analytics and risk management, announced today that Johnson Outdoors Inc., a leading global manufacturer and marketer of branded fishing, diving, paddling and camping products, has selected Fair Value Insight, a joint offering from FINCAD and ICAP, to value its foreign exchange derivatives portfolio.
Johnson Outdoors selected Fair Value Insight because they wanted to expand their hedging of foreign exchange risks and needed to ensure that their derivatives valuation process was reliable, transparent, efficient and auditable.
"Fair Value Insight is easy to use, cost-effective and saved us a significant amount of time. With Fair Value Insight, our monthly valuation process has gone from hours to minutes," said Lori Strangberg, Corporate Controller, Johnson Outdoors Inc. "Fair Value Insight was also very easy to implement and we did not need to invest in additional IT infrastructure. It is very intuitive to use. Once our trades are loaded, valuation and reporting are simple and we can be confident that the valuations and reports are correct without having to check the valuation of each contract - and with dozens of trades to be valued, this reliability was absolutely critical to us."
"With the current volatility in the foreign exchange market, corporations are taking a closer look at their hedging practices and need an accurate, cost-effective and easy to use derivatives valuation solution," said Bob Park, President and CEO, FINCAD. "We are pleased to be a market leading provider of solutions that address these needs."
Founded in 1990, FINCAD provides software and services supporting the valuation and risk management of cross-asset class derivatives and fixed income securities to banks, corporate treasuries, asset management firms, auditors, and governments. FINCAD is the industry standard for financial analytics used by more than 4,000 organizations in over 80 countries. Over 70 FINCAD Alliance Partners embed FINCAD analytics within their solutions. FINCAD provides sales and client services from Dublin, Ireland and Vancouver, Canada. www.fincad.com
About Johnson Outdoors Inc. (Nasdaq: JOUT)
Johnson Outdoors Inc. 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(TM) and Necky® kayaks; Carlisle paddles; Extrasport® personal flotation devices; Minn Kota® motors; Cannon® downriggers; Humminbird® fishfinders; Geonav®marine electronics; SCUBAPRO® and SUBGEAR® dive equipment; Silva® compasses; Tech4O® digital instruments; and Eureka!® tents.
Visit Johnson Outdoors at http://www.johnsonoutdoors.com
For more information, contact:
Email: [email protected]
Johnson Outdoors Inc.
VP - Worldwide Communication