* To close plant in Ferndale, Washington
* Closure will reduce 90 positions
* Sees related charge in Q4
June 30 (Reuters) - Johnson Outdoors Inc said it would close its plant in Ferndale, Washington and cut about 90 positions, as part of its strategy to improve profitability of its Watercraft business.
The company, which designs and makes outdoor recreation products, said charges tied to the closure would hurt fourth-quarter earnings by 16 cents to 20 cents a share.
Johnson Outdoors said it would consolidate operations for its paddle sport brands in Old Town, Maine by the end of September, and expects annual cost savings of more than $4 million from fiscal 2010.
Shares of the company closed at $5.51 Tuesday on Nasdaq.
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(Reporting by Biswarup Gooptu in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: JOHNSONOUTDOORS/ (biswarup.gooptu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: biswarup.gooptu.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Closure will reduce 90 positions
* Sees related charge in Q4
June 30 (Reuters) - Johnson Outdoors Inc said it would close its plant in Ferndale, Washington and cut about 90 positions, as part of its strategy to improve profitability of its Watercraft business.
The company, which designs and makes outdoor recreation products, said charges tied to the closure would hurt fourth-quarter earnings by 16 cents to 20 cents a share.
Johnson Outdoors said it would consolidate operations for its paddle sport brands in Old Town, Maine by the end of September, and expects annual cost savings of more than $4 million from fiscal 2010.
Shares of the company closed at $5.51 Tuesday on Nasdaq.
For the alerts, please double-click on
(Reporting by Biswarup Gooptu in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: JOHNSONOUTDOORS/ (biswarup.gooptu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: biswarup.gooptu.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.