ibinews.com International Boat Industry | AUGUST–SEPTEMBER 2019 5
Johnson Outdoors reports
Q3 revenue gains
USA Marine and outdoor
equipment manufacturer
Johnson Outdoors Inc has
released its 2019 third quarter
results, reporting higher
revenues on the strength
of solid fishing equipment
sales. The company reported
net sales of US$176.3m for
the quarter ended June 28,
2019, representing a 3% gain
over the same period in 2018.
Operating expenses for the
quarter increased $4.3m versus
the prior year period. Gross
margins dipped to 45.2%,
compared against 46.5% for
Q3 2018, attributed in part to
$1.9m in tariffs paid on Chinese
components.
Net income for the fiscalIBI’s daily marine industry intelligence service
online and in depth.For more infomation
or to subscribe contact Nick Hopkinson:
[email protected]NAVICO
Knut Frostad is Navico’s new president
and CEO, replacing outgoing chief executive
Leif Ottosson. Frostad has been on Navico’s
board for 14 years and brings experience
in the industry as former CEO of the Volvo
Ocean Race and director and advisor to
several international companies.SANLORENZO AMERICAS
Marco Segato has been appointed CEO of
Sanlorenzo Americas, the division that has
aided in the Italian superyacht-builder’s
expansion in North, Central and South
America for the last 10 years. Segato was
formerly VP of sales at Sanlorenzo Americas,
a position he has held since 2014.BEHNEMAR
BehneMar, the Dubai-based superyacht
brokerage firm, has named Tim Trenker
as its new CEO. Trenker’s corporate
background is in the premium automobile
and maritime industry.MARQUIS YACHTS
Marquis Yachts has named Scott Nault as
national sales manager, responsible for the US
builder’s Marquis, Carver and Lexus yachts lines. He will also oversee
dealer development and product education.ARKSEN
Arksen, the new UK-based builder of hybrid explorer vessels, has hired
Jim Mair as technical director. Mair joins Arksen from Meercat Workboats,
where he served as technical manager. His background includes
operational/maintenance of yachts, the design of high-speed crew
transfer boats, build management and the refit of large motoryachts.CATANA
French multihull builder Catana has hired Matija Klemenc as the group’s
new regional sales manager for Central European markets and charter
clients. In his previous position, Klemence was responsible for marketing
at two Slovenian boatbuilders – Greenline Yachts and Elan.FAIRLINE YACHTS
The UK’s Fairline Yachts has named Ben Sangster as its new
international sales manager – Europe. Sangster will be responsible for
Fairline’s European sales operations and managing its European dealer
network. For the past 10 years, Sangster has held the post of Fairline’s
chief commissioning engineer.Marco SegatoKnut FrostadIn
association
APPOINTMENTS withTim Trenkerthird quarter was reported as
$22.1m, compared to $23.8m
for the previous Q3, while
operating profit was reported as
$28.0m compared to $32.0m for
Q3 2018.
“Outstanding new product
success over the past three
years continues to power
growth in fishing and sets the
stage for exciting innovations
on the horizon. We feel good
about where we are headed,”
said Johnson Outdoors’ chair
and CEO, Helen Johnson-
Leipold. “The scope of Johnson
Outdoors’ portfolio and
the many opportunities for
growth it provides puts us in
a strong, unique position in
an increasingly competitive
outdoor recreation industry.”
The company also released
year-to-date results, showing
net sales of $458.4m up 1.0%
over the $453.1m reported
for the same period in 2018.
Year-to-date operating profit
was indicated as $61.9m
compared with $65.0m during
the prior fiscal year’s first nine
months.Merritt Precision
expands operations
USA Merritt Precisions has
acquired five acres of land in
Titusville, Florida, and will
break ground later this summer
on an expansion project that
will double capacity of the
specialty milling company.
Merritt Precision is part
of Watershed Innovation,
which was established by
Correct Craft to focus on
“identifying, researching,
developing and integrating
exponential technologies
to benefit Correct Craft, its
subsidiaries and the marine
industry.” Merritt Precisionspecialises in large-format CNC
machining, with an emphasis
on creating complicated plugs
for the marine, automotive and
aerospace industries.
“This expansion really will
allow Merritt Precision to move
in a direction that enhances
our existing product, bring new
capabilities to the company,
and reach more companies
that want only the very best
for their brands,” said Doug
Keehn, Merritt Precision vice
president/general manager.
The project is expected to be
completed in late 2020. New products driving growth