<p>約翰遜户外（Johnson Outdoors，股票代碼：JOUT）已召開其第四季度財報電話會議。以下是會議的主要亮點。</p>
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<p>約翰遜户外最近的財報電話會議描繪了複雜的情緒，表現為下半年強勁的增長和成功的產品發佈。儘管取得了這些成就，但整體銷售保持平穩，財務狀況受到税務支出的影響，市場不確定性依然存在。</p>
<h2>2025 年下半年雙位數增長</h2>
<p>公司在 2025 年下半年報告了令人印象深刻的雙位數增長，這得益於成功的新產品發佈。這一增長為財年的強勁收尾做出了貢獻，突顯了公司創新和捕捉市場需求的能力。</p>
<h2>運營虧損減少</h2>
<p>約翰遜户外在盈利能力方面取得了進展，運營虧損減少至 1620 萬美元，相較於 2024 財年有所改善。這標誌着公司在提升財務表現方面的積極趨勢。</p>
<h2>成功的產品發佈</h2>
<p>Humminbird 的 XPLORE 系列和 MEGA Live 2 魚探器的發佈超出了需求預期，並獲得了行業獎項，突顯了公司在產品創新和市場滲透方面的成功。</p>
<h2>毛利率提高</h2>
<p>2025 財年的毛利率提高至 35.1%，比去年上升 1.2 個百分點。這一增長反映了公司有效的節約成本措施和更高的銷售量。</p>
<h2>正現金流和庫存減少</h2>
<p>連續第三年，約翰遜户外實現了來自運營的正現金流，得益於庫存減少 3900 萬美元。這一財務紀律證明了公司強大的運營管理能力。</p>
<h2>無債務資產負債表</h2>
<p>公司保持無債務的資產負債表，健康的現金狀況為未來的投資和增長機會提供了堅實的基礎。</p>
<h2>公司銷售持平</h2>
<p>儘管在某些領域取得了成功，但公司在整個財年的總銷售額與去年持平，表明在實現整體銷售增長方面面臨挑戰。</p>
<h2>税務支出的影響</h2>
<p>記錄了一項 2500 萬美元的重大税務支出，主要由於美國遞延税資產的 2590 萬美元非現金準備金，影響了公司的財務結果。</p>
<h2>露營和水上運動銷售下降</h2>
<p>2025 財年，露營和水上運動業務的銷售下降，主要是由於 Eureka！庫存的清理，突顯了需要戰略關注的領域。</p>
<h2>市場不確定性</h2>
<p>户外休閒市場仍然不確定，全球宏觀經濟挑戰預計將持續，給未來的表現帶來潛在風險。</p>
<h2>前瞻性指導</h2>
<p>展望未來，約翰遜户外計劃繼續投資於以消費者為驅動的創新以及數字和電子商務增長，作為其 2026 財年的戰略優先事項。公司旨在在減少運營費用和改善利潤率的基礎上，推動未來的增長。</p>
<p>總之，約翰遜户外的財報電話會議反映了樂觀與謹慎的結合。儘管公司在產品發佈和財務改善方面取得了顯著成功，但銷售持平和市場不確定性等挑戰依然存在。隨着公司展望未來，專注於創新和戰略投資將是應對不斷變化的市場環境的關鍵。</p>

約翰遜户外

<p>約翰遜户外的第四季度財報電話會議強調了 2025 年下半年強勁的增長，這得益於成功的產品發佈，儘管整體銷售持平且税務支出對財務產生了影響。公司報告了運營虧損的減少、毛利率的改善、正現金流以及無債務的資產負債表。面臨的挑戰包括銷售持平以及露營和水上交通工具銷售的下降。展望未來，公司計劃專注於創新和數字增長，以應對市場的不確定性</p>

<p>Johnson Outdoors ((JOUT)) has held its Q4 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>約翰遜户外（Johnson Outdoors，股票代碼：JOUT）已召開其第四季度財報電話會議。以下是會議的主要亮點。</p>
</div><h3>Claim 50% Off TipRanks Premium and Invest with Confidence</h3>
<div class="lb-trans"><h3>享受 TipRanks Premium 50% 折扣，信心投資</h3>
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<li>Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential</li>
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<div class="lb-trans"><ul>
<li>解鎖對沖基金級別的數據和強大的投資工具，幫助您做出更聰明、更精準的決策</li>
<li>通過最新的新聞和分析保持市場領先，使您的投資組合始終處於最大潛力的狀態</li>
</ul>
</div><p>Johnson Outdoors’ recent earnings call painted a picture of mixed sentiments, characterized by strong growth in the latter half of the year and successful product launches. Despite these achievements, the overall sales remained flat, and financials were impacted by tax expenses amidst market uncertainties.</p>
<div class="lb-trans"><p>約翰遜户外最近的財報電話會議描繪了複雜的情緒，表現為下半年強勁的增長和成功的產品發佈。儘管取得了這些成就，但整體銷售保持平穩，財務狀況受到税務支出的影響，市場不確定性依然存在。</p>
</div><h2>Double-Digit Growth in Second Half 2025</h2>
<div class="lb-trans"><h2>2025 年下半年雙位數增長</h2>
</div><p>The company reported impressive double-digit growth in the second half of 2025, driven by successful new product launches. This growth contributed to a strong finish for the fiscal year, highlighting the company’s ability to innovate and capture market demand.</p>
<div class="lb-trans"><p>公司在 2025 年下半年報告了令人印象深刻的雙位數增長，這得益於成功的新產品發佈。這一增長為財年的強勁收尾做出了貢獻，突顯了公司創新和捕捉市場需求的能力。</p>
</div><h2>Reduction in Operating Loss</h2>
<div class="lb-trans"><h2>運營虧損減少</h2>
</div><p>Johnson Outdoors showed progress in profitability with a reduction in operating loss to $16.2 million, an improvement compared to fiscal 2024. This marks a positive trend in the company’s efforts to enhance its financial performance.</p>
<div class="lb-trans"><p>約翰遜户外在盈利能力方面取得了進展，運營虧損減少至 1620 萬美元，相較於 2024 財年有所改善。這標誌着公司在提升財務表現方面的積極趨勢。</p>
</div><h2>Successful Product Launches</h2>
<div class="lb-trans"><h2>成功的產品發佈</h2>
</div><p>The launch of Humminbird’s XPLORE Series and MEGA Live 2 fishfinders exceeded demand expectations and garnered industry awards, underscoring the company’s successful product innovation and market penetration.</p>
<div class="lb-trans"><p>Humminbird 的 XPLORE 系列和 MEGA Live 2 魚探器的發佈超出了需求預期，並獲得了行業獎項，突顯了公司在產品創新和市場滲透方面的成功。</p>
</div><h2>Increase in Gross Margin</h2>
<div class="lb-trans"><h2>毛利率提高</h2>
</div><p>The gross margin for fiscal 2025 improved to 35.1%, up 1.2 points from the previous year. This increase reflects the company’s effective cost-saving initiatives and higher sales volumes.</p>
<div class="lb-trans"><p>2025 財年的毛利率提高至 35.1%，比去年上升 1.2 個百分點。這一增長反映了公司有效的節約成本措施和更高的銷售量。</p>
</div><h2>Positive Cash Flow and Inventory Reduction</h2>
<div class="lb-trans"><h2>正現金流和庫存減少</h2>
</div><p>For the third consecutive year, Johnson Outdoors achieved positive cash flow from operations, aided by a significant reduction in inventory by $39 million from fiscal 2024. This financial discipline is a testament to the company’s robust operational management.</p>
<div class="lb-trans"><p>連續第三年，約翰遜户外實現了來自運營的正現金流，得益於庫存減少 3900 萬美元。這一財務紀律證明了公司強大的運營管理能力。</p>
</div><h2>Debt-Free Balance Sheet</h2>
<div class="lb-trans"><h2>無債務資產負債表</h2>
</div><p>The company maintains a debt-free balance sheet, bolstered by a healthy cash position, which provides a strong foundation for future investments and growth opportunities.</p>
<div class="lb-trans"><p>公司保持無債務的資產負債表，健康的現金狀況為未來的投資和增長機會提供了堅實的基礎。</p>
</div><h2>Flat Company Sales</h2>
<div class="lb-trans"><h2>公司銷售持平</h2>
</div><p>Despite the successes in certain areas, total company sales for the full fiscal year were flat compared to the prior year, indicating challenges in achieving overall sales growth.</p>
<div class="lb-trans"><p>儘管在某些領域取得了成功，但公司在整個財年的總銷售額與去年持平，表明在實現整體銷售增長方面面臨挑戰。</p>
</div><h2>Impact of Tax Expense</h2>
<div class="lb-trans"><h2>税務支出的影響</h2>
</div><p>A significant $25 million tax expense was recorded, primarily due to a $25.9 million noncash reserve on U.S. deferred tax assets, impacting the company’s financial results.</p>
<div class="lb-trans"><p>記錄了一項 2500 萬美元的重大税務支出，主要由於美國遞延税資產的 2590 萬美元非現金準備金，影響了公司的財務結果。</p>
</div><h2>Decline in Camping and Watercraft Sales</h2>
<div class="lb-trans"><h2>露營和水上運動銷售下降</h2>
</div><p>Sales in the Camping and Watercraft business declined for fiscal 2025, largely due to the closeout of Eureka! inventory, highlighting areas that require strategic attention.</p>
<div class="lb-trans"><p>2025 財年，露營和水上運動業務的銷售下降，主要是由於 Eureka！庫存的清理，突顯了需要戰略關注的領域。</p>
</div><h2>Market Uncertainty</h2>
<div class="lb-trans"><h2>市場不確定性</h2>
</div><p>The outdoor recreation marketplace remains uncertain, with ongoing global macroeconomic challenges expected to persist, posing potential risks to future performance.</p>
<div class="lb-trans"><p>户外休閒市場仍然不確定，全球宏觀經濟挑戰預計將持續，給未來的表現帶來潛在風險。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</h2>
</div><p>Looking ahead, Johnson Outdoors plans to continue investing in consumer-driven innovation and digital and e-commerce growth as part of its strategic priorities for fiscal 2026. The company aims to build on its financial improvements, including reduced operating expenses and improved margins, to drive future growth.</p>
<div class="lb-trans"><p>展望未來，約翰遜户外計劃繼續投資於以消費者為驅動的創新以及數字和電子商務增長，作為其 2026 財年的戰略優先事項。公司旨在在減少運營費用和改善利潤率的基礎上，推動未來的增長。</p>
</div><p>In summary, Johnson Outdoors’ earnings call reflected a blend of optimism and caution. While the company achieved notable successes in product launches and financial improvements, challenges such as flat sales and market uncertainties remain. As the company looks to the future, its focus on innovation and strategic investments will be crucial in navigating the evolving market landscape.</p>
<div class="lb-trans"><p>總之，約翰遜户外的財報電話會議反映了樂觀與謹慎的結合。儘管公司在產品發佈和財務改善方面取得了顯著成功，但銷售持平和市場不確定性等挑戰依然存在。隨着公司展望未來，專注於創新和戰略投資將是應對不斷變化的市場環境的關鍵。</p>
</div>

約翰遜户外的財報電話會議：在挑戰中實現增長