Johnson Outdoors Inc. (Nasdaq:JOUT) today announced it has added to its portfolio of winning, outdoor recreational brands with Cannon(R) downriggers and Bottomline(R) fishfinders. The brands and assets were acquired in a cash purchase from Computrol of Boise, Idaho, a wholly owned subsidiary of Armstrong International. The deal, which closed on October 3, 2005, reinforces the Company's strategic focus on acquisitions that complement its businesses, have market-leading potential and strengthen profitability. Cannon(R) and Bottomline(R) brands will be integrated into the Company's existing Marine Electronics Group business unit which includes the world-leading Minn Kota(R) brand of electric motors and accessories, and Humminbird(R) brand fishfinders. The acquisition is expected to be accretive to earnings in the first full fiscal year of ownership (fiscal 2006). "Our vision is to own the outdoor adventure, with a clear focus on growth by expanding our markets, our brand equities and our technology horizon through continuous innovation and targeted acquisitions," said Helen Johnson-Leipold, Chairman and Chief Executive Officer, Johnson Outdoors. "We invest in the future of our businesses, and by doing so help increase profitability and enhance shareholder value long-term." Cannon(R) is the #1 brand of downriggers used on motorized boats for controlled depth fishing. Bottomline(R) is a value brand of fishfinders which includes the popular portable, battery-operated "Fishin' Buddy(R)" series. As a result of these acquisitions, Johnson Outdoors now competes in five distinct marine electronics segments that represent a $350 million marketplace opportunity. The Sporting Goods Manufacturers Association reports fishing is an outdoor recreational activity enjoyed by more than 50 million people in the U.S. In fiscal 2004, Johnson Outdoors' Marine Electronics Group business unit reported record sales and profit. Minn Kota(R) share in the U.S. has nearly doubled since fiscal 2000, and in September 2005, Ranger Boats named Minn Kota(R) "Supplier of the Year" recognizing excellence in a number of categories including innovation, quality, shipping performance, customer service and value. Throughout fiscal 2005, Humminbird(R) has experienced significant growth and further strengthened its leadership position around the world. 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(R); Necky(R) kayaks; Minn Kota(R) motors; Humminbird(R) and Fishin' Buddy(R) fishfinders; Cannon(R) downriggers; Scubapro(R) and UWATEC(R) dive equipment; Silva(R) instruments; 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 success of suppliers and customers; the ability of the Company to deploy its capital successfully; adverse weather conditions; 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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