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JOHNSON WORLDWIDE ASSOCIATES, INC. REPORTS FIRST QUARTER RESULTS

 RACINE, Wis., Jan. 21 /PRNewswire/ -- Johnson Worldwide Associates, Inc. (NASDAQ: JWAIA), today reported that for the first quarter ended Jan. 1, 1993, net sales increased 3 percent to $62.0 million from $60.5 million a year ago. The company reported a net loss of $982,000 or $.12 per share, as compared to a net loss of $885,000 or $.11 per share in last year's first quarter.
 Terence S. Malone, chairman and chief executive officer, said, Our first quarter results were generally on target in this period of seasonally low sales. The Worldwide Camping, Trident ink jet and Microfoam ink roll businesses performed particularly well, while Johnson Fishing has now moved into full production on its new line of Minn Kota electric trolling motors. Our Plastimo Marine business in Europe continues to be affected by the worldwide boating depression, and our Scandinavian operations have been impacted by adverse economic conditions.''
 Malone added, Management actions to reposition the company to be leaner and more focused are continuing. Overall, we continue to look for steady progress in our 1993 operating performance, particularly in the second half of the fiscal year.''
 Johnson Worldwide Associates, Inc. manufactures and markets recreational and marking systems products.
 JOHNSON WORLDWIDE ASSOCIATES, INC. AND SUBSIDIARIES
 Summaries of Consolidated Income
 (Unaudited, in thousands except per share amounts)
 Three Months Ended (A)
 1/1/93 12/27/91
 Net sales $ 61,967 $ 60,480
 Gross profit 26,162 24,966
 Operating profit 1,427 1,710
 Interest expense 1,969 2,246
 Other expenses, net 792 645
 Loss before income taxes (1,334) (1,181)
 Income tax benefit (352) (296)
 Net loss (982) (885)
 Loss per common share (.12) (.11)
 Average shares outstanding 7,917 7,889
 NOTE: (A) Each quarter is comprised of 13 weeks and ends on the Friday nearest to Dec. 31.
 -0- 1/21/93
 /CONTACT: John G. Cahill, vice president and chief financial officer of Johnson Worldwide Associates, Inc., 414-631-2994/
 (JWAIA)


CO: Johnson Worldwide Associates, Inc. ST: Wisconsin IN: SU: ERN

TM -- NY085 -- 7611 01/21/93 16:31 EST
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Publication:PR Newswire
Date:Jan 21, 1993
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