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JOHNSON WORLDWIDE ASSOCIATES REPORTS FIRST-QUARTER RESULTS

 JOHNSON WORLDWIDE ASSOCIATES REPORTS FIRST-QUARTER RESULTS
 RACINE, Wis., Jan. 17 /PRNewswire/ -- Johnson Worldwide Associates, Inc. (NASDAQ: JWAIA) today reported results for the first quarter ended Dec. 27, 1991.
 Sales totaled $60.5 million, an increase of 11 percent over first- quarter sales of $54.7 million a year ago. The company reported a net loss of $885,000 or $.11 per share, as compared to a net loss of $842,000 or $.11 per share in last year's first quarter.
 Terence S. Malone, president and chief executive officer, stated, "Our first-quarter operating results with higher sales and operating profit were in line with expectations. Sales increases in the current quarter resulted primarily from companies acquired later in 1991, most notably Jack Wolfskin in Germany. First-quarter sales are always much lower than the important second and third quarters which are the peak selling season for JWA's recreational products. Results in the quarter also reflect additional interest expense from debt incurred for acquisitions, which had a disproportionate impact on first quarter's results in this seasonally low period."
 Johnson Worldwide Associates, Inc. is engaged in the manufacture and marketing of recreational products as well as marking systems for industrial and commercial applications.
 JOHNSON WORLDWIDE ASSOCIATES, INC. AND SUBSIDIARIES
 Summaries of Consolidated Income
 (Unaudited; in thousands, except per-share amounts)
 Three months ended 12/27/91 12/28/90
 Net sales $60,480 $54,651
 Gross profit 24,966 23,128
 Operating profit 1,710 1,504
 Interest expense 2,246 1,842
 Other expenses - net 645 661
 Loss before income taxes (1,181) (999)
 Income tax benefit (296) (157)
 Net loss (885) (842)
 -- per common share $(.11) $(.11)
 Average shares outstanding 7,889 7,865
 -0- 1/17/92
 /CONTACT: John G. Cahill, corporate controller of Johnson Worldwide Associates, 414-631-2994/
 (KPP) CO: Kaneb Pipe Line Company; Kaneb Pipe Line Partners L.P. ST: Texas IN: OIL SU: DIV


CK -- NY020 -- 0911 01/17/92 10:25 EST
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Publication:PR Newswire
Date:Jan 17, 1992
Words:323
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