Johnson Outdoors Cla : Johnson Outdoors Inc. Announces Temporary Closure of Plant Due to Flooding
06/29/2006| 06:08pm US/Eastern
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Johnson Outdoors Inc. (NASDAQ:JOUT), a leading global
outdoor recreation company, today announced the temporary closure of
the Company's Binghamton, New York plant and administrative offices
due to flooding from heavy rains. Binghamton is home to Johnson
Outdoors' Outdoor Equipment Group business, which makes and markets
consumer, commercial and military tents and camping equipment.
The Company's finished goods warehouse has been unaffected by the
flooding and remains open, with shipments expected to resume once
local roads have reopened next week.
Employee safety and well-being is the Company's primary concern at
this time, and efforts are already underway to bring operations back
on-line as quickly as possible. At this time, neither the full extent
of damage nor the financial impact due to the flooding is known. The
Company expects insurance coverage to begin after approximately $1.2
million in losses are incurred.
ABOUT JOHNSON OUTDOORS INC.
Johnson Outdoors 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(R) canoes and kayaks; Ocean
Kayak(TM) and Necky(R) kayaks; Escape(R) electric boats; Minn Kota(R)
motors; Cannon(R) downriggers; Humminbird(R), Bottomline(R) and
Fishin' Buddy(R) fishfinders; Scubapro(R) and UWATEC(R) dive
equipment; Silva(R) compasses and digital instruments; and Eureka!(R)
tents.
Visit us on line at http://www.johnsonoutdoors.com
SAFE HARBOR STATEMENT
Certain matters discussed in this press release are
"forward-looking statements," intended to qualify for the safe harbors
from liability established by the Private Securities Litigation Reform
Act of 1995. Statements other than statements of historical fact are
considered forward-looking statements. Such forward-looking statements
are subject to certain risks and uncertainties, which could cause
actual results or outcomes to differ materially from those currently
anticipated. Factors that could affect actual results or outcomes
include changes in consumer spending patterns; the Company's success
in implementing its strategic plan, including its focus on innovation;
actions of companies that compete with the Company; the Company's
success in managing inventory; movements in foreign currencies or
interest rates; the Company's success in restructuring of its European
Diving operations; unanticipated issues related to the Company's
military sales; the success of suppliers and customers; the ability of
the Company to deploy its capital successfully; adverse weather
conditions; events related to the terminated Buy-Out transaction; and
other risks and uncertainties identified in the Company's filings with
the Securities and Exchange Commission. Shareholders, potential
investors and other readers are urged to consider these factors in
evaluating the forward-looking statements and are cautioned not to
place undue reliance on such forward-looking statements. The
forward-looking statements included herein are only made as of the
date of this press release and the Company undertakes no obligation to
publicly update such forward-looking statements to reflect subsequent
events or circumstances.
© Business Wire 2006
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