Johnson Outdoors Inc. (Nasdaq: JOUT)
, a global leader in innovative outdoor recreational products, today announced the Company has reached a settlement agreement with Confluence Holdings Corp. that will end a long-standing intellectual property dispute between the two companies. While the terms of the agreement are confidential, the settlement does not constitute an admission of wrongdoing by either party and includes a one-time payment by Johnson Outdoors of $4.4 million which is expected to have an unfavorable impact on earnings in the third fiscal quarter. The Company is scheduled to report Fiscal 2007 third quarter results on Thursday, July 26th
at 11:00 a.m. Eastern Time. "After weighing the costs, risks and business distractions associated with continued litigation of this matter against the potential benefit, it became clear that it was in the financial best interests of the Company and its shareholders to settle and move on," said David W. Johnson, Vice President and Chief Financial Officer.