Johnson Outdoors Inc. One of Four Vendors to Share in Consolidated Military Contract
September 07 2005 - 11:39AM
Business Wire
Johnson Outdoors Inc. (Nasdaq:JOUT) today announced the Company and
three other unrelated vendors have been tapped for a single
military contract covering a variety of shelters, trailers and
other military supply components. The new contract consolidates the
military purchases of a variety of goods for all branches of
service under a single contract, and provides the military the
vehicle through which orders can be placed. Total combined orders
under the new contract could range from a minimum value of $25,000
to a maximum cumulative value of $120 million across all four
vendors combined. No orders have been placed with Johnson Outdoors
under the newly announced contract. "We are pleased to have been
awarded a contract, as it indicates Johnson Outdoors has earned the
reputation as a quality military supplier. However, is important to
understand that the award of a contract in no way guarantees orders
above the minimum value of the contract. Further, unlike prior
military contracts awarded the Company, the minimum and maximum
value of the new contract is shared across four vendors, and does
not specify a single tent variety. Our outlook for military tent
sales this year and next remains unchanged until we have orders in
hand," said Helen Johnson-Leipold, Chairman and Chief Executive
Officer, Johnson Outdoors Inc. 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), Necky(R) kayaks; Minn Kota(R) motors;
Humminbird(R) fishfinders; Scubapro(R) and UWATEC(R) dive
equipment; and, Eureka! (R) tents. The company has 24 locations
around the world, employs 1,500 people and reported annual sales of
$355 million in 2004. Visit Johnson Outdoors online at
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 tent business; the success
of suppliers and customers; the ability of the Company to deploy
its capital successfully; adverse weather conditions; unanticipated
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.
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