SEGMENTS OF BUSINESS

9 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

SEGMENTS OF BUSINESS

SEGMENTS OF BUSINESS

The Company conducts its worldwide operations through separate business segments, each of which represents major product lines. Operations are conducted in the United States and various foreign countries, primarily in Europe, Canada and the Pacific Basin.  During the three and nine month period ended June 30, 2023, combined net sales to one customer of the Company's Fishing, Camping and Watercraft Recreation segments represented approximately $26,040 and $83,948, respectively, of the Company's consolidated revenues. During the three and nine month periods ended July 1, 2022, combined net sales to one customer of the Company's Fishing, Camping and Watercraft Recreation segments represented approximately $20,607 and $69,528, respectively, of the Company's consolidated revenues.

Net sales and operating profit include both sales to customers, as reported in the Company’s accompanying Condensed Consolidated Statements of Operations, and interunit transfers, which are priced to recover cost plus an appropriate profit margin. Total assets represent assets that are used in the Company’s operations in each business segment at the end of the periods presented.

A summary of the Company’s operations by business segment is presented below:

	Three Months Ended				Nine Months Ended
	June 30, 2023		July 1, 2022		June 30, 2023		July 1, 2022		September 30, 2022
Net sales:
Fishing:
Unaffiliated customers	$	137,161	$	136,026	$	429,991	$	373,341
Interunit transfers	299		539		851		903
Camping:
Unaffiliated customers	11,621		23,468		36,940		56,741
Interunit transfers	37		11		56		39
Watercraft Recreation:
Unaffiliated customers	15,664		21,821		38,121		59,427
Interunit transfers	62		51		153		54
Diving
Unaffiliated customers	22,216		22,197		61,565		56,879
Interunit transfers	11		4		29		7
Other / Corporate	385		307		882		578
Eliminations	(409)		(605)		(1,089)		(1,003)
Total	$	187,047	$	203,819	$	567,499	$	546,966
Operating profit (loss):
Fishing	$	18,665	$	16,553	$	51,358	$	44,166
Camping	2,039		4,998		4,863		12,867
Watercraft Recreation	1,483		2,893		1,637		7,588
Diving	2,733		2,412		4,190		4,074
Other / Corporate	(7,477)		(3,057)		(27,743)		(15,707)
	$	17,443	$	23,799	$	34,305	$	52,988
Total assets (end of period):
Fishing					$	361,071	$	379,135	$	382,850
Camping					61,896		60,562		59,247
Watercraft Recreation					35,294		43,508		33,496
Diving					84,205		74,969		76,475
Other / Corporate					163,018		117,668		127,863
					$	705,484	$	675,842	$	679,931

During the second fiscal quarter of 2023, the Company sold the Military and Commercial Tent product lines of its Camping business segment to a third party in an asset sale for a purchase price of $14,990. The net book value of the assets and liabilities sold was approximately $8,350, resulting in a gain on sale of approximately $6,640, which is recorded in Other (income) expense, net in the Company’s accompanying Condensed Consolidated Statements of Operations. The purchase price and the net proceeds received by the Company related to this sale were subject to customary purchase price adjustment provisions and Company indemnity obligations set forth in the definitive purchase agreement. Accordingly, during the third fiscal quarter of 2023, a working capital true-up was recorded, which reduced the purchase price and the final net gain to approximately $6,560. The sale did not include the Eureka! brand name or the Eureka! consumer/recreational Camping business line.