Johnson Outdoors Inc. (Nasdaq:JOUT), a leading global outdoor recreation company, today announced the temporary closure of the Company’s Binghamton, New York plant and administrative offices due to flooding from heavy rains. Binghamton is home to Johnson Outdoors’ Outdoor Equipment Group, whichmakes and markets consumer, commercial and military tents and camping equipment. The Company’s finished goods warehouse located nearby was unaffected by the flooding, and shipments should commence later today.
In 2006, Binghamton operations were closed due to flooding and a flood wall was erected subsequently to protect the facility from rising waters from the adjacent Susquehanna River. At that time, the Company also secured National Flood Insurance Program coverage. Last week, Tropical Storm Lee dropped nearly ten inches of rain in Binghamton causing the river to crest at record high levels and the flood wall to be breached.
Employee safety and well-being is the Company’s primary concern, and efforts have begun to bring operations back on line as quickly as possible. While the full extent of the damage is unknown, at this time the Company expects insurance coverage to begin after $100,000 in losses are incurred.
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) and Necky(R) kayaks; Carlisle(R) paddles; Extrasport(R) personal flotation devices; Minn Kota(R) motors; Cannon(R) downriggers; Humminbird(R) fishfinders; Lake Master(R) electronic charts; Geonav(R) marine electronics; SCUBAPRO(R) and SUBGEAR(R) dive equipment; Silva(R)compasses; Tech4O(R) digital instruments; and Eureka!(R) tents.
