Contents
About Johnson Outdoors…2
Message from the Chairman…6
Value Plus Performance…10
Letter from the CEO and CFO
Financial Snapshot 2012
Business Unit Performance
Value Plus Strategy…20
Value Plus Innovation…24
Value Plus Insight…30
Value Plus Leadership…34
how we create
Johnson Outdoors has always been
committed to building long-term value for
our consumers, customers, employees and
shareholders. The strategy we’ve carried out
over the last three years has positioned us to
do even more—to create Value Plus.
As a global leader in outdoor recreation
equipment, we provide Value Plus through
products and services that continually
enhance the experience for outdoor
enthusiasts. Leveraging our knowledge,
innovation expertise and extraordinary insight,
we seek to deliver the ultimate in long-term
value: sustainable, profitable growth.
Johnson Outdoors | Annual Report 2012 | 1
A
company
our vision
To be the premier portfolio of leading
outdoor equipment brands consistently
creating value for consumers, customers,
employees and shareholders.
our mission
To exceed the ever-growing expectations
of outdoor enthusiasts, and the channel
customers that serve them, with the most
innovative, most valued and most
sought-after brands and equipment.
2 | Johnson Outdoors | Annual Report 2012
Products sold in 81 countries
1,100 employees
20 facilities worldwide
FY2012 results:
$412.3 million revenue
Operating profit $21.4 million
g
iVin
D
21%
$88.0 M
regulators
Buoyancy compensators
Dive computers
Masks/fins/snorkels
Wetsuits
FY2012 sales:
M
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Af
A Tercr
OuTDOO r g e A r & W
56%
$231.2 M
fishing Motors
Downriggers
fishfinders
Digital charts & Maps
shallow Water Anchors
23%
$93.5 M
Tents
Packs
compasses
Personal cooking systems
sleeping Bags
camping gear
canoes
Kayaks
Paddles
Personal flotation Devices
Accessories
Johnson Outdoors | Annual Report 2012 | 3
Old Town Heron Jr.
This new kayak specially
designed to accommodate
kids 50 to 100 pounds was a
hit among active families and
earned Outside magazine’s
highest honor.
Our brands hold
leading market
positions
Eureka!® | Family Tents
Silva® | Field Compasses
Minn Kota® | Shallow Water Anchors
old Town® | Canoes
Necky® | Kayaks
ocean Kayak™ | Kayaks
Minn Kota® | Motors
Humminbird® | Fishfinders
LakeMaster® | Digital Maps
Cannon® | Downriggers
SCubapro® | Diving Gear
Jetboil® | Personal Cooking Systems
Minn Kota®
Humminbird®
4 | Johnson Outdoors | Annual Report 2012
#2#1$100Million Brands 2012
Humminbird 360 imaging™
Humminbird electronics have been
ICAST Product Showcase winners year
after year, and 2012 was no exception.
Every year, Johnson Outdoors
products achieve new levels of
innovation, performance and quality,
earning recognition from industry trade
groups, publications and the all-important
consumer. That translates into a portfolio of
award-winning brands that outperform their
competitors and create new markets.
brands
Jetboil sumo™
group cooking system
The Jetboil Sumo earned Gear of the Year
accolades from Men’s Journal, with a
demonstration on the “Today Show,” and
was also named in Outside magazine
Gear of the Year, Explore magazine 2012
Gear Guide, Bicycle Retailer product
picks, Fish Alaska Retailer’s Choice
Awards, Army Times GearScout, and
Elevation Outdoors Best in the Field.
®
Johnson Outdoors | Annual Report 2012 | 5
message from the chairman
6 | Johnson Outdoors | Annual Report 2012
Business model for sustained success
Johnson Outdoors’ business model is based
upon a long-term focus and strong corporate
governance, with an emphasis on outstanding
quality. A 2012 Credit Suisse study found that
family businesses—large and small, public and
private—with this same model perform well in
hostile economic environments; the majority
delivered revenue growth of 5 percent or
more in the recent recession. This “family”
business model has paid off consistently over
time, creating value for all shareholders and
generating superior cash flow that enables
companies to finance growth internally rather
than use costly, risky external leverage.
This business model was the framework for
our 2012 three-year strategic plan. The goal:
strengthen operations and enhance performance
in the midst of the outdoor recreation industry’s
gradual recovery by the end of fiscal 2012. We
set the bar high—and delivered, growing profits
faster than sales and exceeding 5 percent
compound annual sales growth over three years.
The result: we outperformed our competitors
and our markets in key measures of success
during this timeframe.
Strategic clarity produced positive results
in fiscal 2012, as we achieved double-digit
operating profit growth on higher revenue driven
by strength in U.S. markets, which more than
offset continuing economic issues in Europe.
Pre-tax income was 63 percent above 2011,
while a higher effective tax rate weighed on
adjusted net earnings year-over-year.
These past three years were also a period of
transformation as we refined our vision and
clarified our mission. Today we are stronger
and more competitive, and we know where we
can win and how. We have built the foundation
essential for sustained profitable growth and
enhanced shareholder value. We are now prepared
to move beyond building value to creating Value
Plus, the focus of our next three-year plan.
A
portfolio
Helen P. Johnson-Leipold
Chairman of the Board
Johnson Outdoors | Annual Report 2012 | 7
The Value Plus proposition
Our definition of Value Plus is embodied
within our mission: to exceed the ever-
growing expectations of outdoor enthusiasts
and the channel customers that serve them,
offering the most innovative, most valued and
most sought-after brands and equipment. It
encompasses every aspect of our business,
from product design and development, to
sourcing and procurement, to production and
quality control, to marketing and customer
service. Success will mean being the best in
everything we do every day, not necessarily
the biggest.
Delivering Value Plus in the highly fragmented
outdoor recreational products industry
demands in-depth market knowledge, product
expertise and innovative insight. We possess
all, cultivated and leveraged over more than
40 years to become a recognized leader
in core fishing, diving, camping, hiking
and paddling segments. These strengths,
combined with the unparalleled breadth and
depth of our distribution and retail penetration,
leading-edge processes and systems, and
iconic brands provide us a unique competitive
advantage and ability to provide Value Plus.
Targeting enthusiasts
The resiliency of the outdoor recreation
industry is evidenced by the consistent,
steady growth of participation in outdoor
activities in both up and down economic
times. Those whose enjoyment of active
outdoor recreation has turned to passion are
enthusiasts who spend more time doing what
they love to do outdoors and shopping for the
latest and greatest gear to further enjoyment of
their favorite outdoor activity. Enthusiasts are
trend-setters who value and reward meaningful
innovation, with an expectation for the highest-
quality product, performance and service.
They are the core consumer franchise of the
outdoor recreation industry and account for a
disproportionately high level of the industry’s
profitability.
Our challenge, and thus our opportunity, is
to gain even richer, deeper insights into our
fishing, diving, camping, hiking and paddling
enthusiasts and to translate those into
continued winning innovation. Trust and loyalty
are earned over years of meeting enthusiasts’
needs. Our legacy of success in doing so is
unmatched: eight straight years with new
products generating a third or more of total
company revenue.
reaching enthusiasts
The purchase experience is important to
outdoor enthusiasts. Product knowledge and
selection are key, something they can find
only in retailers that specialize in gear for
their outdoor passion. Diving, camping, hiking
and paddling enthusiasts tend to gravitate to
smaller local and regional specialty dealers,
while fishing enthusiasts often prefer larger
“hook and bullet” and marine outlets.
Johnson Outdoors’ deep penetration
across outdoor recreation channels gives us
unprecedented access to enthusiasts. As a
result, nearly every Johnson Outdoors brand
holds the #1 or #2 position in its market. Our
portfolio encompasses the active outdoors
equipment segments with the greatest
enthusiast participation and highest dollar
volume—and with substantial room to grow as
we look to leverage existing and new brands to
expand our channel presence and importance
through innovation and entry into additional
equipment segments.
Preparing to win
Our new three-year Value Plus plan reaches
to 2015, and builds upon our innovation
expertise, channel penetration, manufacturing
and sourcing prowess, and enthusiast insight
and connection. We will focus resources on
sustaining our technology leadership in
Marine Electronics; maintaining positive
momentum in Diving; achieving leadership
in Watercraft & Outdoor Gear specialty
channels; and maximizing opportunities to
enhance the long-term profitability of every
Johnson Outdoors business.
8 | Johnson Outdoors | Annual Report 2012
The bar has been raised across the outdoor
recreation industry. Consumers and customers
demand more, competition is fierce, and the
race for technology and innovation is unceasing.
Johnson Outdoors is prepared for the challenge
and positioned to win.
Our capacity and capability for sustained,
profitable growth is greater than ever before. Our
people offer unmatched expertise, creativity and
passion for the business. I am excited about our
future and confident in our ability to deliver Value
Plus to our markets and enhanced shareholder
value long term.
Helen P. Johnson-Leipold
Chairman & Chief Executive Officer
Johnson Outdoors | Annual Report 2012 | 9
letter from the ceo and cfo
10 | Johnson Outdoors | Annual Report 2012
strategic management yields strong financials
Over the past three years, Johnson Outdoors
has made significant progress toward our
long-term goal of sustained profitable growth
and enhanced shareholder value. We’re
pleased with where we are and excited
by the potential for strong performance
in every business.
Fiscal 2012 results reflect a mix of variables—
some positive, some not. Operating profit grew
year-over-year as we benefitted from increased
volume, legal and insurance settlements
and reduced legal expenses, which offset
higher bad debt costs related to Europe and
restructuring costs. However, a significantly
higher effective tax rate of 49.1 percent, driven
by losses which occurred outside the U.S.
where no tax benefit is recorded, reduced net
earnings. We’re evaluating all opportunities to
bring the tax rate down.
Looking beyond these moving parts, the picture
is clearly positive. Net sales increased 1.2
percent to $412.3 million, with more than 45
percent of sales generated by innovative new
products. Operating profit increased 21 percent
to $21.4 million due to improved sales and
efficiencies as well as one-time items noted
earlier. Pre-tax income was up 62.7 percent,
though tax accounting meant net income
of $10.1 million, or $1.03 per diluted share,
compared unfavorably to 2011. Even so, fiscal
2012 net income is the second-highest ever for
Johnson Outdoors.
We continue to focus on disciplined working
capital management and rigorous inventory
controls. In 2012, average working capital as a
percentage of sales declined, from 30.8 percent
last year to 28.5 percent. Record-low working
capital levels helped reduce borrowing costs
and bring debt to an all-time low.
Cash flow is robust, with every business
contributing. We expect the acquisition of
Jetboil®, which occurred in the first quarter
of fiscal 2013, to add more than $10 million in
sales and an additional $1.5 million to operating
profit next year. Our solid cash position gives us
the flexibility to pursue strategic opportunities,
to make the investments needed to grow our
business, and to create Value Plus.
Helen P. Johnson-Leipold
Chairman & Chief Executive Officer
David W. Johnson
Vice President & Chief Financial Officer
performance
Johnson Outdoors | Annual Report 2012 | 11
financial snapshot
Disciplined management continues positive trends
Growth in Johnson Outdoors revenue and operating profit continued in 2012, while disciplined
capital management further strengthened our balance sheet.
• Fiscal 2012 net income is the second-highest ever.
• Debt level is at an all-time low.
• Working capital as a percentage of sales is the lowest in five years.
• Every business contributed to healthy cash flow.
The bottom line: As we launch our new 2015 three-year strategic plan,
Johnson Outdoors is well positioned to deliver Value Plus.
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12 | Johnson Outdoors | Annual Report 2012
2010
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Johnson Outdoors | Annual Report 2012 | 13
$231.2 M
FY12 net sales
marine electronics
Powering success
Record sales for Marine Electronics, our largest
business and an essential growth engine
for Johnson Outdoors, drove increased total
company sales for fiscal 2012. Net sales for
all Marine Electronics brands—Minn Kota®
motors, Humminbird® marine electronics,
Cannon® downriggers, and LakeMaster®
electronic charts—grew $9.1 million, or
4.1 percent. Innovative products such as the
Minn Kota i-Pilot® wireless GPS trolling system
and higher OEM channel sales helped fuel
growth. Minn Kota and Humminbird brands
each exceeded $100 million in sales for the
second straight year, a rare achievement in the
outdoor recreation equipment industry.
Innovation will be key to continued profitable
growth in these brands as we work to protect
and expand our leading market position.
Next-generation integrated fishing system
technology, enhanced price/value options
and expansion into adjacent categories
are priorities for Minn Kota. Humminbird is
emphasizing new-to-the-world applications
and platforms to maintain technology
leadership in the years ahead.
Minn Kota Endura Max transom
mount trolling motor
The voices enthusiasts trust
Marine Electronics marketing strategies include
providing our products to well-known fishing
personalities. Pro Staff teams include professional,
award-winning tournament anglers using Minn Kota,
Humminbird and LakeMaster equipment. Through
social media sites, fans interact with our Pro Staff,
follow their exploits and pick up tips on successful
fishing. It’s a Value Plus that creates a better
experience for fishing enthusiasts the world over.
14 | Johnson Outdoors | Annual Report 2012
marine electronics
Minn Kota MK230
on-board precision
charger
Powering up the boat
and the online community
Community via technology
social media lets us share in fishing
enthusiasts’ passion and helps keep our
brands top-of-mind.
On the Humminbird Facebook page, fans post
pictures of their Humminbird equipment as well
as the “big ‘uns” they catch. Pro Staff members
add imaging tips and updates on contests and
events. Links to our YouTube channel and other
angler-related sites are also readily available.
On discussion boards like Texas Fishing Forum
and Crappie.Com, we answer user questions,
share images and post videos. The result is
virtual community. As one BassBoat Central
member said, “Each day when someone
presents an issue, concern or general question,
there are a handful of folks who immediately
take the time to respond with tips, tricks and
their vast knowledge of Humminbird products,
and that, to me, captures the true spirit of
these forums: good people, helping people
who have questions.”
Johnson Outdoors | Annual Report 2012 | 15
$88 M
FY12 net sales
diving
increasing market share
Diving turned in a strong performance in North
America and Asia/Pacific markets in fiscal
2012, but the increase was outweighed by
unfavorable currency translation around the
globe. The result: a decline in net sales of
$1.5 million, or 1.7 percent. On a currency-
neutral basis, Diving sales were 2.6 percent
above fiscal 2011.
SCUBAPRO® and SUBGEAR® are complementary
brands designed to help Johnson Outdoors
gain overall market share and build positive
momentum, with each brand targeting a distinct
segment. SCUBAPRO is the preferred, premium
brand for diving enthusiasts, a true aspirational
brand known for quality, innovation, service and
durability. SUBGEAR offers lifestyle-oriented
dive gear to the mid-price segment—the largest,
fastest-growing segment of the dive market.
This dual brand strategy maximizes the return
on our R&D investment, extending the life
of SCUBAPRO innovation as we generate
new growth and new enthusiasts through
SUBGEAR. The next level of growth for Diving
will incorporate continued innovation in core
life-support segments.
16 | Johnson Outdoors | Annual Report 2012
SCUBAPRO MK25/S600 Anniversary
Edition
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Supporting science
and conservation
Whether tagging whale sharks,
assessing coral health or searching
for near-extinct species, the marine staff of
Conservation International (CI) relies on dive
research. This year SCUBAPRO supplied
equipment for CI dive teams around the world.
“Donning a full set of new SCUBAPRO gear
was like slipping into a comfortable old suit
with no break-in period,” says Scott Henderson,
regional director of CI’s Eastern Tropical Pacific
Seascape Program.
Dr. Mark Erdman, senior adviser for the CI
Indonesia Marine Program, says his new
BCD “was directly responsible for the
collection of two new fish species…the
SCUBAPRO BCD allowed me to carry all
the sampling gear needed.”
SUBGEAR SG1000
Regulator
SUBGEAR’s new line of
Apnea suits
Johnson Outdoors | Annual Report 2012 | 17
$93.5 M
FY12 net sales
outdoor gear & watercraft
Preparing to reclaim leadership
At the beginning of fiscal 2012, we combined
Watercraft and Outdoor Gear resources to
focus on paddle and outdoor specialty channels,
which make up about half the $1.5 billion
market in which these businesses compete.
Over the course of the year, we restructured
Watercraft operations to generate $2 million
in projected annual savings and accelerate
innovation and speed-to-market.
For fiscal 2012, sales of our Watercraft brands—
Old Town® canoes and kayaks, Ocean Kayak™
and Necky® kayaks, Carlisle® paddles and
Extrasport® personal flotation devices—rose
about 1 percent, on higher sales of low-margin
products and the sale of inventory associated
with restructuring in the U.K. Revenue for
our Outdoor Gear brands—Eureka!® camping
and hiking equipment, Silva® compasses
and Tech40® performance measurement
instruments—dropped 9.1 percent due largely
to declines in U.S. military orders and soft
commercial markets. However, our primary
emphasis remains on consumer camping and
hiking enthusiasts and the channels that serve
them—the market where our brand equity was
first established.
To reclaim leadership, we’re strengthening
Watercraft margins, leveraging synergies with
Outdoor Gear and investing in innovative,
paddle-specialty-only new products and sales
support for small businesses. Our Jetboil®
acquisition brings exciting new technology to
our camping portfolio, providing opportunity for
expansion and growth in all camping brands by
leveraging the respective distribution strengths
of Eureka! and Jetboil. And our intense focus
on exceeding price/value expectations for
customers and consumers is key to creating
long-term, profitable growth.
Eureka! Warrior
camp lantern
Award-winning
Old Town Heron Jr. Kayak
18 | Johnson Outdoors | Annual Report 2012
outdoor gear & watercraft
Built to survive
extreme conditions
Jetboil Sol® Titanium
premium cooking
system
Hurricane heroes
save lives with kayak
At least six people in Rockaway Beach,
New York survived Hurricane Sandy thanks to an
Ocean Kayak Malibu 2 kayak. Owner John Walsh
had loaned the kayak to his cousin, who stored
it in the second floor of their garage.
“As the fires from Sandy spread to the house
adjacent to my aunt’s and cousin’s homes, it
was time to evacuate,” Walsh says. “My cousin,
a retired NYC firefighter, had to throw the kayak
through the second-floor window. With his
son, they used the kayak in 6 feet of moving
ocean water to take my 73-year-old aunt, her
7-year-old niece, and their bulldog to safety.
Another father and his 15-year-old son, in
wetsuits, took the kayak to save two elderly
women. Obviously, I don’t have a picture of
the rescue efforts with the kayak, but I have
included a picture of the kayak (in good shape).
My cousin stated, ‘The kayak saved our lives.’”
®
Johnson Outdoors | Annual Report 2012 | 19
20 | Johnson Outdoors | Annual Report 2012
strategy
A plan for winning in a new era
McKinsey & Co. researchers say consumers have “a new
definition of value, which includes price but also…quality and
convenience and enjoyment of the shopping experience.” Today’s
consumers research products online. Shop with smartphones
in hand. And enable marketers to gather ever more detail about
what, when and where they buy.
These continuing, dramatic changes in technology and consumer
behavior mean continuing, fundamental changes in the outdoor
recreation market. Thus, the three-year strategic plan Johnson
Outdoors launches in 2013 continues to emphasize sustainable,
profitable growth, but embraces an important new dimension:
Value Plus.
clearer, fact-based focus
In-depth analysis of market and consumer data vis-a-vis our
strengths and challenges has clarified growth opportunities and
our unique capacity for continued success. We’ve articulated
a business model to best meet the needs and expectations of
fishing, diving, camping, hiking and paddling enthusiasts and the
customers that serve them.
exceeding ever-increasing
expectations is key to success
Johnson Outdoors | Annual Report 2012 | 21
strategy
Our goals are straightforward:
• Keep the balance sheet strong and continue
to grow profits faster than sales.
• Deliver sustained, profitable growth via
Marine Electronics, Diving, and Watercraft
& Outdoor Gear Specialty platforms.
• Create enhanced, long-term value—Value
Plus—for consumers, customers and
shareholders.
To carry out this strategy, we’ll continue
to leverage our core capabilities, including
meaningful innovation; richer insights
into our targeted consumers; win-win partnerships
with our customers; and a culture that engages and
energizes talented people. We’ll build on established
strengths including deep category knowledge, multi-
channel distribution, product and technology expertise,
and outstanding customer service. We’ll continue to
emphasize efficient use of capital, invest in our businesses
and brands to keep them strong, evaluate new growth
segments and acquisition opportunities, and pursue
operational excellence.
Our plan recognizes that change is a constant variable.
Embracing and adapting to change will be key to our
continued success.
®
Jetboil Flash® personal
cooking system
Reliable and remarkable, usable and unique. Jetboil® is
the category creator and brand leader in personal cooking
systems. These lightweight, easy-to-use products work faster
and better than the competition, enabling campers, paddlers,
hikers and other outdoor enthusiasts to cook a hot meal or
beverage in minutes, anywhere, any time.
The Jetboil brand brings exciting proprietary technology to
the Johnson Outdoors camping and paddling portfolio and
is a perfect example of a strategic acquisition: Our brands
will benefit from Jetboil’s strength in the specialty class of
trade. Likewise, the Jetboil brand will build on our broader
distribution channels for long-term, profitable growth.
strategic Acquisition
22 | Johnson Outdoors | Annual Report 2012
“I just wanted you to know how
pleased I am with the service I received
recently on my Cannon downrigger I
purchased from Cabela’s...I can tell you
that it was pleasant, quick, and easy,
and having been in the service/sales
industry most of my adult life, it was
noticed and greatly appreciated!
I can tell you I am a fan for life.”
—Randy Ramage, Post Falls, Idaho
We’re building on our core capabilities
to stay ahead of changes in technology and
consumer behavior
Johnson Outdoors | Annual Report 2012 | 23
24 | Johnson Outdoors | Annual Report 2012
innovation
uniquely, meaningfully better
Johnson Outdoors is focused on meeting enthusiasts’ high expectations for performance,
quality and service. Equipment must improve the outdoor experience, and the value
received must be worth the price.
To deliver consistently enhanced price/value, Johnson Outdoors seeks innovations in design
or function that make a product better than what’s out there—whether we’re bringing
Value Plus to a familiar product such as a trolling motor, or entering a new category such as
shallow-water anchors.
We push technology boundaries, finding new ways to apply existing technology and new
ways to use digital and electronic advances—exactly what appeals to our target market.
As the Leisure Trends Group notes, “Sports enthusiasts are more apt to purchase high-
performance products and products with the latest technology than the general population.”
Retail results show our innovations meet enthusiasts’ ever-increasing
expectations. For eight consecutive years, new products have accounted
for more than 33 percent of our sales.
for eight years in a row,
a third or more of sales have
come from new products
in 2012, it was 47.5%
Johnson Outdoors | Annual Report 2012 | 25
innovation
Driving profitable growth
The success of our Marine Electronics Group
shows how meaningful innovation at a
winning price/value point is a powerful driver
of profitable growth. We’re advancing our
leadership with continuing innovation.
For example, take the i-Pilot® remote control
for trolling motors. Revolutionary? Yes, but
anglers wanted even more: they wanted it
connected with a fishfinder. The new i-Pilot®
Link™ does just that, bringing together select
Minn Kota® motors, Humminbird® fishfinders
and LakeMaster® digital GPS maps. Anglers can
track a course, set waypoints, lock in anchor
spots, even follow a specific depth contour. With
i-Pilot’s cruise control and advanced autopilot,
the boat and the motor do the work, freeing the
angler to catch more fish—a true Value Plus.
Patent-pending 360 Imaging™ from
Humminbird, voted Best in Show for electronics
at this year’s ICAST, creates a new winner’s
circle. Anglers get around-the-boat underwater
imaging in a 300-foot diameter circle, revealing
structure, contour changes, and most
important, fish. Orders rolled in months before
the product was available—showing a Value
Plus product yields value plus results.
Expanding our territory
LakeMaster’s newest maps cover more
territory than ever...the Contour Elite
software and Humminbird digital SD
cards range from California to Minnesota,
span the Gulf from Texas to Florida, and
give more fishing enthusiasts a fish-eye
view of their favorite lakes.
26 | Johnson Outdoors | Annual Report 2012
2012 coverage
new for 2013
connecting the gear
on the boat to enhance the
fishing experience
“Years ago, when I first started using
LakeMaster mapping products, it changed
the way I fished. Today, LakeMaster
mapping products define the way I fish.
Location is the most important aspect
of fishing, and with LakeMaster maps
revealing the most productive spots, I can
concentrate on all the other variables that
go into a successful fishing trip.”
—Jon Thelen, professional tournament
angler, fishing guide and television host
Johnson Outdoors | Annual Report 2012 | 27
innovation
Keeping the pipeline full
To ensure innovation remains a point of
difference for Johnson Outdoors, we continue
to refine our product development process.
For instance, rapid prototyping has long been
a strength of our organization, helping us
determine quickly whether we can profitably
manufacture a particular piece of equipment.
Now, following our new strategic plan, we’re
incorporating consumer insight into every stage
of this iterative process, helping us determine
quickly whether we can profitably market the
equipment. This ongoing innovation dialog
varies from business to business; each activity
has its own requirements, and each piece of
equipment is different. But the ultimate goal is
the same: Keep a pipeline full of products that
will drive our success in outdoor recreation
segments where innovation is rewarded.
New Cannon
Uni-Troll 10STX-TS
manual downrigger
28 | Johnson Outdoors | Annual Report 2012
scuBAPrO’s Meridian™ has
evolved to become our most
successful dive watch ever
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Johnson Outdoors | Annual Report 2012 | 29
30 | Johnson Outdoors | Annual Report 2012
insight
Access, analysis and action
Over the last three years, we more clearly defined the Johnson Outdoors marketplace
opportunity as outdoor enthusiasts—highly engaged consumers who participate in their
chosen activity more frequently, purchase more frequently and reward meaningful price/
value more than casual participants.
Now we’re strengthening our connection with these consumers. Johnson Outdoors’
market knowledge and insight already stand out in our industry, and we’re finding new and
better ways to access and analyze relevant data and turn it into action to deliver Value Plus
to enthusiasts.
We understand that for enthusiasts, shopping is an extension of their chosen activity.
They want a place where they can talk with other enthusiasts
and knowledgeable suppliers about their experiences and their
equipment.
In short, they want to shop where a retailer specializes in
equipment and services geared to their chosen outdoor
passion. As the Leisure Trends Group says, “Consumers have
very positive opinions of independent specialty stores. The
merchandise is authentic, people care and they can be trusted.”
But the definition of “specialty” differs by outdoor activity.
We give enthusiasts the
experience they’re looking for
Johnson Outdoors | Annual Report 2012 | 31
insight
Johnson Outdoors’ broad, deep distribution in
80-plus countries reaches the most engaged
consumers in the specialty shops they prefer.
For anglers, it often means larger chain stores
like Cabela’s, Bass Pro and Gander Mountain.
Paddlers, campers and hikers tend to shop
at independent specialty and outdoor retailers.
Divers almost exclusively favor small dive dealers.
We are working to be the vendor of choice
across all these retail channels. Building on our
insight, particularly in the specialty channel, we’re
offering enhanced inventory analytics, unique
retail programs and other services to create
win-win partnerships.
Internally, we draw on our enterprise resource
system to improve data use. By gathering
data from customer touchpoints and analyzing
weekly point-of-sale data from our trade
partners, we enhance our insight—and translate
it into the Value Plus that keeps consumers
and customers choosing equipment from
Johnson Outdoors.
Small dive shops are
the go-to sources for
enthusiasts to get
their gear
32 | Johnson Outdoors | Annual Report 2012
connecting with the
consumer in a personal way
is a Value Plus for retailers
and the brand
Sharing the thrill
Daniel Alvarez is a writer who grew
up paddling and swimming in the
rivers and oceans around Tallahassee,
Florida. He traded his backpack for
a necky Looksha 17 kayak to view
America from a new, watery angle.
Fans have been following his blog as
his 4,000-mile adventure unfolds…the
kind of shared experience that keeps
enthusiasts connected to each other,
and to Johnson Outdoors.
Johnson Outdoors | Annual Report 2012 | 33
board of directors
34 | Johnson Outdoors | Annual Report 2012
Front row , seated (L-R): Mr. Pyle, Ms. Johnson-Leipold, Mr. London
Back row, standing (L-R): Mr. McCollum, Mr. Fahey, Mr. Lang
Board of Directors
Helen P. Johnson-Leipold
Chairman of the Board since 1999. Chairman
and CEO, Johnson Outdoors; Chairman
and Director, Johnson Financial Group, Inc.;
Director, S.C. Johnson & Son, Inc.; Chairman,
The Johnson Foundation.
Thomas f. Pyle, Jr.
Vice Chairman of the Board since 1997.
Chairman, The Pyle Group; Director,
Sub-Zero Wolf, Inc.; Non-Executive Chairman of
Uniek, Inc.; Trustee, Wisconsin Alumni Research
Foundation and University Research Park, Inc.;
Member, University of Wisconsin Chancellor’s
Advisory Council and Kennedy Center National
Advisory Board.
leadership
John M. fahey, Jr.
Director since 2001. Chairman and CEO, National
Geographic Society; Director, Exclusive Resorts;
Member of the Board, Smithsonian National
Museum of Natural History.
edward f. Lang
Director since 2006. Senior Vice President and
Chief Financial Officer of the New Orleans Saints
and New Orleans Hornets; past President of
Business Operations and Alternate Governor,
Nashville Predators; Director and past Chairman,
Nashville’s Adventure Science Center.
Terry e. London
Director since 1999. President and CEO, London
Broadcasting Company, Inc.; past President,
London Partners, LLC; past President and CEO,
Gaylord Entertainment Company; Director,
Pier 1 Imports.
W. Lee Mccollum
Director since 2005. Director, Johnson Financial
Group, Inc.; Chairman of the Board and Director,
Le Groupe Fruits & Passion; Director, Sigma
Aldrich Corporation; Director, Coastal South
Bancshares, Inc.
Johnson Outdoors | Annual Report 2012 | 35
executive team
Front row (L-R): Dave Johnson, Bill Kelly, Alisa Swire,
Kelly Grindle, Helen Johnson-Leipold
Back row (L-R): Joe Stella, John Moon, Sara Vidian,
Cynthia Georgeson
experience
Our Value Plus organization includes an
experienced executive team that has
guided Johnson Outdoors through several
years of outperforming our peers.
36 | Johnson Outdoors | Annual Report 2012
executive Team
Helen P. Johnson-Leipold, Chairman and CEO
Helen honed her marketing skills at one of the world’s leading
advertising agencies, Foote, Cone & Belding, then joined consumer
products giant SC Johnson, where she held senior management
positions before being named to her current role with Johnson Outdoors.
Helen is also chairman and director of Johnson Financial Group, a $6 billion
financial services company.
David W. Johnson, Vice President and CFO
David joined Johnson Outdoors in 2001 as director of treasury services and
financial analysis, and in 2005 was named vice president and CFO. Prior to Johnson
Outdoors, he was with The Procter & Gamble Company, where he led teams in new
business development, brand and operational restructuring, and strategic analysis.
Kelly grindle, Senior Group Vice President – Marine Electronics & Diving
Kelly directs business operations for Marine Electronics and strategic initiatives for
Diving. Previously, he held strategic financial analysis roles at SC Johnson, prior to
becoming a venture manager at Johnson Keland Mgt. He joined the company as vice
president – mergers, acquisitions and strategic planning, and was named group vice
president in 2000 and senior group vice president in 2009.
Bill Kelly, Group Vice President – Outdoor Gear & Watercraft
Bill directs business operations for our paddling, camping and hiking brands, including
Eureka!®, Old Town® and Ocean Kayak™. An outdoor industry veteran, he joined Johnson
Outdoors in 1993 and served in a variety of corporate and operational positions
before being named Outdoor Gear group vice president in 2001. In 2011, he added
responsibilities for Watercraft.
Joe stella, Group Vice President – Global Diving
Joe directs business functions for SCUBAPRO® and SUBGEAR® brands. He
was a successful commercial diver and vice president of sales, marketing
and business development for Dacor Corporation before joining Johnson
Outdoors in 1999. Joe is a Scuba Schools International Platinum Pro 5000
diver and holds two dive equipment patents.
company information
John Moon, Vice President and Chief Information Officer
John defines and implements strategic use of information technology at
Johnson Outdoors. He joined the company in 2006 after holding numerous
positions of increasing responsibility with Baxter International, including
corporate vice president and CIO.
Certain matters discussed in this report are “forward-looking statements”
intended to be covered by the safe harbor provisions for forward-looking
statements contained in the Private Securities Litigation Reform Act of
1995. Please see “Forward Looking Statements” in the 2012 Form 10-K for
a discussion of uncertainties and risks associated with these statements.
Alisa swire, Corporate Secretary, Vice President and General Counsel
Alisa guides corporate governance, legal activities and strategic portfolio
management. Previously in private practice in New York. Before joining Johnson
Outdoors, Alisa was director of mergers and acquisitions for Wal-Mart International.
sara Vidian, Vice President, Human Resources
Sara directs organizational efforts to increase employee engagement, satisfaction
and productivity and ensure Johnson Outdoors remains a workplace of choice.
Prior to joining the company in 2001, she led HR functions for Morgan Stanly/Dean
Witter, Rainfair and Lacrosse Footwear.
cynthia georgeson, Vice President, Worldwide Communication
Cynthia directs strategic corporate, investor and employee communications.
Prior experience includes SC Johnson, where she led global public affairs,
environmental and “a family company” branding programs.
www.johnsonoutdoors.com
© 2013 Johnson Outdoors Inc.
Publisher: Cynthia Georgeson
Vice President-Worldwide Communication, Johnson Outdoors Inc.
Design: Lynne and Gil Leigh, Modern Media
Editor: Mary Jo Thome
Production Coordinator: Amy Helvick
Corporate Secretary
Johnson Outdoors Inc. • 555 Main Street • Racine, WI USA • 53403-1015
for more information, contact: Johnson Outdoors Inc.
Cynthia Georgeson, Vice President-Worldwide Communication
262-631-6600 • cgeorges@johnsonoutdoors.com
To contact the Board of Directors directly, visit:
http://investor.johnsonoutdoors.com/contactBoard.cfm
johnsonoutdoors.com