Johnson Outdoors Inc.

Hello, everyone, and welcome to the Johnson Outdoors second quarter 2023 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 placed in a listen-only mode. After prepared remarks, The question and answer session will begin. If you would like to ask a question during that time, please press star 11 on your telephone. 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 Pat Tenman from Johnson's Outdoors. Please go ahead, Miss Tenman.

Thank you. Good morning, everyone. Thank you for joining us for our discussion of Johnson Outdoors results for the 2023 fiscal second 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 controls. 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 myself. It is now my pleasure to turn the call over to Helen Johnson-Leopold.

Thanks, Pat. Good morning, everyone. I'll begin with an overview on the quarter and the year, and then I'll share perspective on the performance and outlook for our businesses. Dave will review financial highlights, and then we'll take your questions. Sales in our second fiscal quarter ending March 31, 2023, rose 7%. to $202.1 million compared to $189.6 million in the prior year's second quarter. At the halfway mark of the fiscal year, total company year-to-date sales increased 11% over last year's first fiscal six-month period. Profit before income taxes for the quarter increased to $19.9 million versus $13.2 million in the prior year quarter. For the year-to-date period, profit before income taxes was $28.1 million versus $27.8 million in prior year-to-date periods. Gabe will give some more insight into the profit drivers. Over the past few years, we've seen higher participation in outdoor activities and have benefited from the pandemic fuel demand. Now coming out of the pandemic, we're facing more challenging markets and uncertainties affecting our customers and our consumers. I'll delve into markets further in my discussion of each business. In phishing, supply and component availability significantly improved, allowing us to fill more customer orders. Near-term customer demand continues to be solid, and we're continuing to monitor consumer takeaway. During the quarter, the team showcased our fishing brands at the annual Bassmaster Classic Tournament and Consumer Show in Tennessee. This year, Bassmaster had a record attendance with consumers passionate about fishing, and I'm pleased to share that Minn Kota and Hummingbird Sponsors Angler Jeff Gustafson won the tournament. In our diving business, momentum continues as the market rebounds from depressed pandemic levels and increased global travel we continue to benefit from our scuba pro equity as the most trusted dive brands in the world in camping and watercraft recreation both markets are impacted by a post-pandemic slowdown retailers have built up inventory and now have a lot of products on shelf to work through meanwhile consumer spending has slowed Consumer-focused innovation is critical for both the new and existing participants in these activities, and the hire and votes of our innovative Old Town Sportsmen line continue to do well. In all of our businesses, sustaining innovation leadership is critically important to our growth and the success of our brands. We remain focused on investing in understanding both new and existing consumers' evolving needs, and translating that into new product success. We continue to work on an exciting pipeline of new products across all of our brands. Looking ahead, we continue to stay on top of marketplace conditions and monitoring consumer buying behavior. And as always, I'll take the long-term view at Johnson Outdoors, positioning our brands and businesses for long-term growth. Now I'll turn the call over to Thanks for the review of the financial highlights.