Q4 2022 Johnson Outdoors Inc Earnings Call
Speaker 1: The conference will begin shortly. To raise your hand during Q&A, you can dial star 1-1.
Speaker 2: Hello everyone and welcome to the Johnson outdoors 4th quarter 2022 earnings conference call. Today's call will be led by Helen Johnson Leopold, Johnson's outdoor chairman and chief executive officer. Also on the call today is David Johnson, vice president and chief financial officer. Prior to the question and answer session.
Speaker 3: All participants will be placed in the listen-only mode. After the prepared remarks, the question-and-answer session will begin. If you'd like to ask a question during that time, please press star 1-1 on your telephone keypad. This call is being recorded. Your participation implies consent to our recording of this call. If you do not disagree...unintelligible
Speaker 4: for the 2022 fiscal fourth quarter. If you need a copy of today's news release, it is available on our website at johnsonoutdoors.com under investor relations.
Speaker 5: I also need to remind you that this conference call 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.
Speaker 6: These risks and uncertainties include those listed in our press release and filings with the Securities and Exchange Commission.
Speaker 7: If you have additional questions following the call, please contact Dave Johnson or myself. It is now my pleasure to turn the call over to Helen Johnson Leopold.
Speaker 8: Thanks, Pat. Good morning. I'll begin with an overview on the fiscal year results, and then I'll share perspective on the performance and outlook for our business. Dave will review financial highlights, and then we'll take your questions.
Speaker 9: In fiscal 2022, total company sales declined 1% to $743.4 million compared to the prior record-setting fiscal year. That income for the year was $44.5 million or $4.37 per unit share.
Speaker 10: of 47 percent decline from the prior fiscal year. Operating profit decreased 40 percent to 66.3 million dollars versus 111.3 million dollars in prior fiscal year with the challenging supply chain situation primarily in our fishing business.
Speaker 11: significantly impacting our profitability. Managing the challenging supply chain environment remains a key priority and we will continue to evaluate all avenues to mitigate cost pressures into the next fiscal year.
Speaker 12: In fishing, while supply chain challenges persisted throughout the first part of the fiscal year, we saw supply availability start to improve during the fiscal fourth quarter.
Speaker 13: Sustaining innovation, leadership, and fishing is also our focus, and we are always looking for new ways that hummingbird and Minn Kota products can connect and work together to deliver these benefits to anglers. Our recent innovation in hummingbirds, the award-winning Megalive Imaging Target Lock.
Speaker 14: used in conjunction with our Miikota Altrax strolling motor makes it easier for anglers to stay on point and catch more fish.
Speaker 15: During fiscal 2022, MEGA Live Imaging Target Lock received the Best in Category for Electronics Honors at this year's ICAST, marking our 11th award in this category in the past 12 years.