Johnson Outdoors Inc.

Hello, everyone, and welcome to Johnson Outdoors' third quarter 2021 earnings conference call. Today's call will be led by Helen Johnson-Leopold, Johnson Outdoors Chairman and Chief Executive Officer. Also on the call is David Johnson, Vice President and Chief Financial Officer. Prior to the question and answer session, all participants will be in a listen-only mode. After the prepared remarks, the question and answer session will begin. If you would like to ask a question during that time, please press star, then the number one on your telephone keypad. 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 Patricia Penman from Johnson Outdoors. Please go ahead, Ms. Penman.

Thank you. Good morning, everyone. Thank you for joining us for our discussion of Johnson Outdoors results for the 2021 fiscal third 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 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. These risks and uncertainties include those listed in our press release and filings with the Securities and Exchange Commission. If you have additional questions following the call, please contact Dave Johnson or me. It is now my pleasure to turn the call over to Helen Johnson-Leopold.

Thanks, Pat. Good morning. Excuse me. And thank you for joining us. I'll begin with an overview on the quarter and year-to-date results, and then I'll share perspective on the performance and outlook for our businesses. Dave will review key financials, and then we'll take your questions. During the fiscal third quarter, the warm weather outdoor recreation season is in high gear, and continued strong demand and increased interest in outdoor activities delivered another quarter of unprecedented results. Sales surged to $213.6 million during the third quarter, 54% ahead of last year's third quarter. Continued strong operational efforts allowed the company to deliver these results. Year-to-date total company sales stand at $585.4 million, a 36% increase over last year's fiscal nine-month period. Of note, compared to fiscal 2019, we are up 28% for the year-to-date period. Total company operating profit of $97.7 million was 16.7% of net sales, an increase of 4.7 points over the prior year-to-date period. The margin improvement was driven primarily by operational efficiencies as a result of increased sales volumes. For the third fiscal quarter, total operating profit was $38.1 million versus $12.9 million in the previous quarter. Net income for the quarter more than doubled to $28.8 million, or $2.83 per diluted share. Dave will discuss the key financial drivers later in the call. In fishing, high demand for Minn Kota and Hummingbird technologies continued through the third quarter as both new and seasoned anglers continue to look at Johnson outdoors for the best fishing experience possible. Our most recent innovation in Hummingbird, the new Mega Live Imaging, captured Best in Electronics honors at this year's ICAST, the world's most prestigious fishing show, marking our 10th award in this category in the past 11 years. Mega live imaging delivers the clarity and detail of mega imaging in live action, allowing anglers to see fish and structure in real time, even watching fish on screen as they move into bite and angler's lure. With the release of this technology, anglers have access to the most complete package of industry-leading technologies and products offered by a single brand. M-Encoda's award-winning Raptor shallow water anchor continues to do well in its first full year on the market. The Raptor has two industry-first technologies, auto bottom mode, which detects bottom density to determine the right anchoring force, and active anchoring, which continuously monitors anchoring force and adjusts automatically for stable bottom pinning. Across all product lines, sales continue to impress as anglers look to Minn Kota as a trusted brand to help them catch more fish. Looking ahead, we will continue to focus on understanding anglers' evolving needs and expectations and translating those unique insights into bigger, better product successes to maintain our pipeline of exciting new products and to sustain Minn Kota and Hummingbird's leadership position in the fishing market. In watercraft recreation, people continue to be eager to get out on the water, and our industry-leading propulsion technologies offer options for anglers of all abilities and interests. The fishing kayak segment continues to grow, driven by ongoing enthusiasm for the innovative line of sportsman kayaks that was launched last year. From the versatile paddle-powered sportsman salty kayak to the award-winning autopilot 120 motorized fishing kayak, The Sportsman line offers a watercraft for everyone looking to enjoy a great day outdoors. In camping, demand for both Eureka and Jetboil gear remains strong as people continue to be interested in all sorts of camping experiences from backyard to backcountry. Demand for a Eureka brand of tents and camp cooking technology is beating expectations And in Jeff Boyle, consumers continue to be excited about the super light stash stove that we launched earlier this year. Reducing weight on the trail is critical for backpackers, and the stash is the lightest all-in-one backpacking stove system that Jeff Boyle, the technology leader in portable outdoor cooking systems, has ever made. Finally, in diving, as pandemic-related travel restrictions and lockdowns are being eased and people are traveling again, we have seen the diving market begin to recover. Diving had a strong, difficult third quarter versus 2020 and is also up versus third quarter 2019. And our work to promote and support local diving, simplify our diving business, and enhance our digital presence globally with new European websites and e-commerce has been paying off. As the diving market recovers, our continued focus on these efforts, along with sustained innovation, will ensure ScubaPro's position as the most trusted dive brand in the world. In summary, we are pleased with our results and people's continued interest in spending time outdoors. While ongoing supply chain issues and logistics disruptions may affect our ability to fill all increased demand across our segments in the future, our near-term focus is to continue to work hard to manage supply issues, and meet demand for a strong finish to the fiscal year. We remain committed to investing in our key strategic drivers, understanding our consumers, sustaining innovation leadership, identifying new source and paths of growth in our markets, and continually optimizing our digital consumer experience. Our ongoing hard work on these priorities ensures that our portfolio of market-leading brands is well-positioned for success and that we continue to deliver sustained profitable long-term growth for jobs outdoors. Now I'll turn the call over to Dave for a review of the financial highlights. Dave.