<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>irm153.txt
<DESCRIPTION>FORM 10-Q
<TEXT>
================================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549


                                    FORM 10-Q


          [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                For the quarterly period ended December 27, 2002

                                       OR

          [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

              For the transition period from _________ to _________

                         Commission file number 0-16255

                              JOHNSON OUTDOORS INC.
             (Exact name of Registrant as specified in its charter)


              Wisconsin                                 39-1536083
   (State or other jurisdiction of         (I.R.S. Employer Identification No.)
   incorporation or organization)


                    555 Main Street, Racine, Wisconsin 53403
                    (Address of principal executive offices)


                                 (262) 631-6600
              (Registrant's telephone number, including area code)


Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the Registrant is an accelerated filer (as
defined in Rule 12b-2 of the Act). Yes [ ] No [X]

As of January 31, 2003, 7,173,068 shares of Class A and 1,222,647 shares of
Class B common stock of the Registrant were outstanding.


================================================================================


<PAGE>


<TABLE>
                                           JOHNSON OUTDOORS INC.
<CAPTION>
                                Index                                                     Page No.
--------------------------------------------------------------------------------       ----------------

PART I     FINANCIAL INFORMATION
<S>        <C>                                                                               <C>
           Item 1.     Financial Statements

                       Consolidated Statements of Operations - Three months
                       ended December 27, 2002 and December 28, 2001                          1

                       Consolidated Balance Sheets - December 27, 2002,
                       September 27, 2002 and December 28, 2001                               2

                       Consolidated Statements of Cash Flows - Three months
                       ended December 27, 2002 and December 28, 2001                          3

                       Notes to Consolidated Financial Statements                             4

           Item 2.     Management's Discussion and Analysis of Financial
                       Condition and Results of Operations                                    7

           Item 3.     Quantitative and Qualitative Disclosures About Market
                       Risk                                                                  12

           Item 4.     Controls and Procedures                                               12

PART II    OTHER INFORMATION

           Item 6.     Exhibits and Reports on Form 8-K                                      13

                       Signatures                                                            14

                       Certifications                                                        15

                       Exhibit Index                                                         17
</TABLE>

<PAGE>

PART I     FINANCIAL INFORMATION

Item 1.    Financial Statements

<TABLE>
                                             JOHNSON OUTDOORS INC.

                                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                                 (unaudited)

<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
(thousands, except per share data)                                                                 Three Months Ended
-----------------------------------------------------------------------------------------------------------------------
                                                                                     December 27          December 28
                                                                                            2002                 2001
-----------------------------------------------------------------------------------------------------------------------
<S>                                                                                  <C>                  <C>
Net sales                                                                            $    54,895          $    59,738
Cost of sales                                                                             31,212               34,448
-----------------------------------------------------------------------------------------------------------------------
Gross profit                                                                              23,683               25,290
-----------------------------------------------------------------------------------------------------------------------
Operating expenses:
    Marketing and selling                                                                 14,451               15,015
    Administrative management, finance and information systems                             6,308                6,932
    Research and development                                                               1,525                1,615
    Amortization of intangibles                                                               78                   83
    Profit sharing                                                                         1,155                  193
    Strategic charges                                                                          -                  461
-----------------------------------------------------------------------------------------------------------------------
Total operating expenses                                                                  23,517               24,299
-----------------------------------------------------------------------------------------------------------------------
Operating profit                                                                             166                  991
Interest income                                                                             (353)                (146)
Interest expense                                                                           1,371                1,552
Other (income) expense, net                                                                 (356)                 245
-----------------------------------------------------------------------------------------------------------------------
Loss before income taxes                                                                    (496)                (660)
Income tax benefit                                                                          (216)                (264)
-----------------------------------------------------------------------------------------------------------------------
Loss before cumulative effect of change in accounting principle                             (280)                (396)
Cumulative effect of change in accounting principle, net of tax of $2,200                      -              (22,876)
-----------------------------------------------------------------------------------------------------------------------
Net loss                                                                             $      (280)         $   (23,272)
-----------------------------------------------------------------------------------------------------------------------
BASIC LOSS PER COMMON SHARE:
    Loss before cumulative effect of change in accounting principle                  $     (0.03)         $    (0.05)
    Cumulative effect of change in accounting principle                                        -               (2.80)
-----------------------------------------------------------------------------------------------------------------------
Net loss                                                                             $     (0.03)         $    (2.85)
-----------------------------------------------------------------------------------------------------------------------
DILUTED LOSS PER COMMON SHARE:
    Loss before cumulative effect of change in accounting principle                  $     (0.03)         $    (0.05)
    Cumulative effect of change in accounting principle                                        -               (2.80)
-----------------------------------------------------------------------------------------------------------------------
Net loss                                                                             $     (0.03)         $    (2.85)
-----------------------------------------------------------------------------------------------------------------------


                  The accompanying notes are an integral part of the consolidated financial statements.

</TABLE>

                                      -1-
<PAGE>

<TABLE>
                                             JOHNSON OUTDOORS INC.

                                        CONSOLIDATED BALANCE SHEETS
                                                  (unaudited)
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
                                                                            December 27        September 27        December 28
(thousands, except share data)                                                     2002                2002               2001
--------------------------------------------------------------------------------------------------------------------------------
ASSETS
Current assets:
<S>                                                                         <C>                 <C>                <C>
    Cash and temporary cash investments                                     $    66,089         $   100,830        $     9,719
    Accounts receivable, less allowance for doubtful accounts of
        $3,590, $4,028 and $3,586, respectively                                  46,260              39,972             48,165
    Inventories                                                                  49,814              42,231             68,327
    Deferred income taxes                                                         4,979               5,083              5,262
    Other current assets                                                          5,328               4,021              7,779
--------------------------------------------------------------------------------------------------------------------------------
Total current assets                                                            172,470             192,137            139,252
Property, plant and equipment                                                    29,837              29,611             29,606
Deferred income taxes                                                            19,533              19,588             21,819
Intangible assets                                                                28,543              27,139             29,660
Other assets                                                                      2,751               2,810                910
--------------------------------------------------------------------------------------------------------------------------------
Total assets                                                                $   253,134         $   271,285        $   221,247
--------------------------------------------------------------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
    Short-term debt and current maturities of long-term debt                $     9,568         $     8,058        $    26,535
    Accounts payable                                                             13,681              13,589             13,685
    Accrued liabilities:
        Salaries and wages                                                        6,758               9,428              5,775
        Income taxes                                                              2,839               6,567               (665)
        Other                                                                    16,103              24,005             14,083
--------------------------------------------------------------------------------------------------------------------------------
Total current liabilities                                                        48,949              61,647             59,413
Long-term debt, less current maturities                                          68,680              80,195             78,272
Other liabilities                                                                 5,137               5,298              4,442
--------------------------------------------------------------------------------------------------------------------------------
Total liabilities                                                               122,766             147,140            142,127
--------------------------------------------------------------------------------------------------------------------------------
Shareholders' equity:
    Preferred stock: none issued                                                     --                  --                 --
    Common stock:
    Class A shares issued:
        December 27, 2002, 7,166,569;
        September 27, 2002, 7,112,155;
        December 28, 2001, 6,947,360                                                358                 355                347
    Class B shares issued (convertible into Class A):
        December 27, 2002, 1,222,647;
        September 27, 2002, 1,222,729;
        December 28, 2001, 1,222,729                                                 61                  61                 61
    Capital in excess of par value                                               48,080              47,583             44,411
    Retained earnings                                                            87,808              88,089             56,890
    Deferred compensation                                                            (7)                (22)               (19)
    Accumulated other comprehensive loss:                                        (5,932)            (11,921)           (22,570)
--------------------------------------------------------------------------------------------------------------------------------
Total shareholders' equity                                                      130,368             124,145             79,120
--------------------------------------------------------------------------------------------------------------------------------
Total liabilities and shareholders' equity                                  $   253,134         $   271,285        $   221,247
--------------------------------------------------------------------------------------------------------------------------------

               The accompanying notes are an integral part of the consolidated financial statements.
</TABLE>


                                      -2-
<PAGE>

<TABLE>
                                             JOHNSON OUTDOORS INC.

                                   CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                 (unaudited)

<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
 (thousands)                                                                                            Three Months Ended
----------------------------------------------------------------------------------------------------------------------------
                                                                                            December 27        December 28
                                                                                                   2002               2001
----------------------------------------------------------------------------------------------------------------------------
CASH USED FOR OPERATIONS
<S>                                                                                          <C>                <C>
Net loss                                                                                     $     (280)        $  (23,272)
Less cumulative effect of change in accounting principle                                             --            (22,876)
----------------------------------------------------------------------------------------------------------------------------
Loss before cumulative effect of change in accounting principle                                    (280)              (396)
Adjustments to reconcile loss before cumulative effect of change in accounting
    principle to net cash used for operating activities:
        Depreciation and amortization                                                             1,907              2,446
        Deferred income taxes                                                                       134                  7
Change in operating assets and liabilities, net of effect of businesses acquired
    or sold:
        Accounts receivable                                                                      (5,527)            (3,365)
        Inventories                                                                              (6,702)            (7,544)
        Accounts payable and accrued liabilities                                                (15,101)            (3,721)
        Other, net                                                                               (2,460)            (4,434)
----------------------------------------------------------------------------------------------------------------------------
                                                                                                (28,029)           (17,007)
----------------------------------------------------------------------------------------------------------------------------
CASH PROVIDED BY (USED FOR) INVESTING ACTIVITIES
Proceeds from sale of property, plant and equipment                                                  --              4,982
Net additions to property, plant and equipment                                                   (1,670)            (1,207)
----------------------------------------------------------------------------------------------------------------------------
                                                                                                 (1,670)             3,775
----------------------------------------------------------------------------------------------------------------------------
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES
Issuance of senior notes                                                                             --             50,000
Principal payments on senior notes and other long-term debt                                      (8,000)            (8,000)
Net change in short-term debt                                                                    (1,868)           (34,706)
Common stock transactions                                                                           445                 --
----------------------------------------------------------------------------------------------------------------------------
                                                                                                 (9,423)             7,294
----------------------------------------------------------------------------------------------------------------------------
Effect of foreign currency fluctuations on cash                                                   4,381               (412)
----------------------------------------------------------------------------------------------------------------------------
Decrease in cash and temporary cash investments                                                 (34,741)            (6,350)
CASH AND TEMPORARY CASH INVESTMENTS
Beginning of period                                                                             100,830             16,069
----------------------------------------------------------------------------------------------------------------------------
End of period                                                                                $   66,089         $    9,719
----------------------------------------------------------------------------------------------------------------------------

                      The accompanying notes are an integral part of the consolidated financial statements.
</TABLE>

                                      -3-
<PAGE>

                              JOHNSON OUTDOORS INC.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  (unaudited)


1    Basis of Presentation

     The consolidated financial statements included herein are unaudited. In the
     opinion of management, these statements contain all adjustments (consisting
     of only normal recurring items) necessary to present fairly the financial
     position of Johnson Outdoors Inc. and subsidiaries (the Company) as of
     December 27, 2002 and the results of operations and cash flows for the
     three months ended December 27, 2002. These consolidated financial
     statements should be read in conjunction with the consolidated financial
     statements and notes thereto included in the Company's 2002 Annual Report
     on Form 10-K.

     Because of seasonal and other factors, the results of operations for the
     three months ended December 27, 2002 are not necessarily indicative of the
     results to be expected for the full year.

     All monetary amounts, other than share and per share amounts, are stated in
     thousands.

     Certain amounts as previously reported have been reclassified to conform
     with the current period presentation.

2    Change in Accounting Principle

     Effective September 29, 2001, the Company adopted SFAS 142. In accordance
     with the adoption of this new standard, the Company ceased the amortization
     of goodwill.

     As required under SFAS 142, the Company performed an assessment of the
     carrying value of goodwill using a number of criteria, including the value
     of the overall enterprise as of September 29, 2001. This assessment
     resulted in a write off of goodwill totaling $22,876, net of tax ($2.80 per
     diluted share for the quarter) and has been reflected as a change in
     accounting principle. The write off is associated with the Watercraft
     ($12,900) and Diving ($10,000) business units. Future impairment charges
     from existing operations or other acquisitions, if any, will be reflected
     as an operating expense in the statement of operations.

3    Income Taxes

     The provision for income taxes includes deferred taxes and is based upon
     estimated annual effective tax rates in the tax jurisdictions in which the
     Company operates.

4    Inventories

     Inventories at the end of the respective periods consist of the following:

     --------------------------------------------------------------------------
                               December 27      September 27      December 28
                                      2002              2002             2001
     --------------------------------------------------------------------------
     Raw materials                $  20,317        $  17,709         $  23,259
     Work in process                  1,116            1,072             2,634
     Finished goods                  30,751           25,633            45,534
     --------------------------------------------------------------------------
                                     52,184           44,414            71,427
     Less reserves                    2,370            2,183             3,100
     --------------------------------------------------------------------------
                                  $  49,814        $  42,231         $  68,327
     --------------------------------------------------------------------------


                                      -4-
<PAGE>

5    Earnings Per Share

     The following table sets forth the computation of basic and diluted
     earnings per common share before cumulative effect of change in accounting
     principle:

<TABLE>
<CAPTION>
     --------------------------------------------------------------------------------------------------------------
                                                                                              Three Months Ended
     --------------------------------------------------------------------------------------------------------------
<S>                                                                            <C>                <C>
                                                                                  December 27        December 28
                                                                                         2002               2001
     --------------------------------------------------------------------------------------------------------------
     Loss before cumulative effect of change in accounting principle for
          basic and diluted earnings per share                                  $        (280)     $        (396)
     --------------------------------------------------------------------------------------------------------------
     Weighted average common shares outstanding                                     8,355,418          8,168,934
     Less nonvested restricted stock                                                    6,635             14,193
     --------------------------------------------------------------------------------------------------------------
     Basic and diluted average common shares                                        8,348,783          8,154,741
     --------------------------------------------------------------------------------------------------------------
     Basic and diluted loss per common share before cumulative effect of
          change in accounting principle                                        $       (0.03)     $       (0.05)
     --------------------------------------------------------------------------------------------------------------
</TABLE>

     Outstanding stock options were not included in the calculation of diluted
     average common shares because their inclusion would have had an
     anti-dilutive impact on the loss per common share.


6    Stock Ownership Plans

     A summary of stock option activity related to the Company's plans is as
     follows:

     --------------------------------------------------------------------------
                                                              Weighted Average
                                                Shares          Exercise Price
     --------------------------------------------------------------------------
     Outstanding at September 27, 2002       1,064,019                  $ 9.06
     Exercised                                 (54,332)                   7.25
     Cancelled                                 (11,832)                  16.95
     --------------------------------------------------------------------------
     Outstanding at December 27, 2002          997,855                  $ 9.07
     --------------------------------------------------------------------------

     Options to purchase 1,234,176 shares of common stock with a weighted
     average exercise price of $9.14 per share were outstanding at December 28,
     2001.

7    Comprehensive Income

     Comprehensive income (loss) includes net loss and changes in shareholders'
     equity from non-owner sources. For the Company, the elements of
     comprehensive income (loss) excluded from net income are represented
     primarily by the cumulative foreign currency translation adjustment.

     Comprehensive loss for the respective periods consists of the following:

     ------------------------------------------------------------------------
                                                        Three Months Ended
     ------------------------------------------------------------------------
                                            December 27        December 28
                                                   2002               2001
     ------------------------------------------------------------------------
     Net loss                                  $   (280)        $  (23,272)
     Translation adjustment                       5,989             (3,412)
     ------------------------------------------------------------------------
     Comprehensive income (loss)               $  5,709         $  (26,684)
     ------------------------------------------------------------------------

                                      -5-
<PAGE>

                             JOHNSON OUTDOORS INC.

8    Segments of Business

     The Company conducts its worldwide operations through separate global
     business units, each of which represent major product lines. Operations are
     conducted in the United States and various foreign countries, primarily in
     Europe, Canada and the Pacific Basin. The Company does not believe it has
     unusual risk related to concentrations in volume of business with a
     particular customer or supplier, or concentrations in revenue from a
     particular product.

     Net sales and operating profit include both sales to customers, as reported
     in the Company's consolidated statements of operations, and interunit
     transfers, which are priced to recover cost plus an appropriate profit
     margin. Identifiable assets represent assets that are used in the Company's
     operations in each business unit at the end of the periods presented.

     A summary of the Company's operations by business unit is presented below:

     ---------------------------------------------------------------------------
                                                             Three Months Ended
     ---------------------------------------------------------------------------
                                                 December 27        December 28
                                                        2002               2001
     ---------------------------------------------------------------------------
     Net sales:
         Outdoor equipment:
             Unaffiliated customers               $   11,864         $   22,715
             Interunit transfers                          33                 10
         Diving:
             Unaffiliated customers                   16,458             13,823
             Interunit transfers                          16                 --
         Motors:
             Unaffiliated customers                   14,729             12,492
             Interunit transfers                         277                 61
         Watercraft:
             Unaffiliated customers                   11,734             10,703
             Interunit transfers                         175                 33
         Other                                           110                  5
         Eliminations                                   (501)              (104)
     ---------------------------------------------------------------------------
                                                  $   54,895         $   59,738
     ---------------------------------------------------------------------------
     Operating profit (loss):
         Outdoor equipment                        $    1,409         $    2,586
         Diving                                        2,025              1,484
         Motors                                        1,577                550
         Watercraft                                   (1,929)            (1,348)
         Other                                        (2,916)            (2,281)
     ---------------------------------------------------------------------------
                                                  $      166         $      991
     ---------------------------------------------------------------------------
     Identifiable assets (end of period):
         Outdoor equipment                        $   18,766         $   46,623
         Diving                                       80,983             71,912
         Motors                                       28,749             28,816
         Watercraft                                   60,918             57,762
         Other                                        63,718             16,134
     ---------------------------------------------------------------------------
                                                  $  253,134         $  221,247
     ---------------------------------------------------------------------------


                                      -6-
<PAGE>

Item 2 Management's Discussion and Analysis of Financial Condition and Results
       of Operations

The following discussion includes comments and analysis relating to the
Company's results of operations and financial condition for the three months
ended December 27, 2002 and December 28, 2001. This discussion should be read in
conjunction with the consolidated financial statements and related notes that
immediately precede this section, as well as the Company's 2002 Annual Report on
Form 10-K.

Forward Looking Statements

Certain matters discussed in this Form 10-Q are "forward-looking statements,"
intended to qualify for the safe harbors from liability established by the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can generally be identified as such because the context of the
statement includes phrases such as the Company "expects," "believes" or other
words of similar meaning. Similarly, statements that describe the Company's
future plans, objectives or goals are also forward-looking statements. Such
forward-looking statements are subject to certain risks and uncertainties which
could cause actual results or outcomes to differ materially from those currently
anticipated. Factors that could affect actual results or outcomes include
changes in consumer spending patterns, actions of companies that compete with
the Company, the Company's success in managing inventory, movements in foreign
currencies or interest rates, the success of suppliers and customers, the
ability of the Company to deploy its capital successfully and adverse weather
conditions. Shareholders, potential investors and other readers are urged to
consider these factors in evaluating the forward-looking statements and are
cautioned not to place undue reliance on such forward-looking statements. The
forward-looking statements included herein are only made as of the date of this
Form 10-Q and the Company undertakes no obligations to publicly update such
forward-looking statements to reflect subsequent events or circumstances.

Results of Operations

Net sales for the three months ended December 27, 2002 totaled $54.9 million, a
decrease of 8.1% or $4.8 million, compared to $59.7 million in the three months
ended December 28, 2001. Excluding the results of the Company's Jack Wolfskin
subsidiary, which was sold in the fourth quarter of the prior year, sales of the
Company's continuing businesses increased 15.1% for the quarter over the prior
year. Foreign currency translations favorably impacted first quarter sales by
$2.2 million. All of the Company's continuing business units had double digit
sales growth over the prior year. The Motors business sales increased $2.5
million, or 19.5%, to $15.0 million as a result of strength from new products
and gains in market share. The Outdoor Equipment business sales decreased $10.8
million, or 47.6%, to $11.9 million as a result of the sale of the Jack Wolfskin
subsidiary. However, the Company's continuing business in this segment had an
11% sales increase to $11.6 million from continued strong military orders. The
Diving business sales increased $2.7 million, or 19.2%, to $16.5 million as a
result of market recoveries in Europe and North America. Additionally, the
Diving business benefited from strong sales from a recent industry trade show.
The Watercraft business sales increased $1.2 million, or 10.9%, to $11.9 million
as all operating companies in this segment had sales increases over the prior
year quarter.

Gross profit as a percentage of sales was 43.1% for the three months ended
December 27, 2002 compared to 42.3% in the corresponding period in the prior
year. Margins from continuing businesses (excluding Jack Wolfskin) were nearly
flat with the prior year. Margin improvement in the Motors business was offset
by declines in the other business segments. The Motors business benefited from
new products and mix.

The Company recognized operating profit of $0.2 million for the three months
ended December 27, 2002 compared to operating profit of $1.0 million for the
corresponding period of the prior year. Excluding the results of Jack Wolfskin,
the first quarter of the prior year would have had an operating loss of $0.4
million; therefore, on a continuing business basis, operating profit increased
$0.6 million for the quarter. The year ago quarter also included $0.5 million of
strategic charges related to the consolidation efforts in the Watercraft
business.

                                      -7-
<PAGE>

Sales volume and strong gross profits in the Motors business drove the increase
in operating profits from continuing businesses. Watercraft operating profit was
below prior year, due to continued integration cost at Ocean/Necky Kayaks and
investments in improvements at Old Town Canoe. The Diving business showed solid
improvement over a difficult first quarter of the prior year.

Interest expense totaled $1.4 million for the three months ended December 27,
2002 compared to $1.6 million for the corresponding period of the prior year.
The reduction from prior year amounts resulted from lower debt levels and
favorable interest rates. The change in other income in the current year is
primarily related to currency translation gains resulting from appreciation of
Euro dollars relative to U.S. dollars.

The Company's effective tax rate for the three months ended December 27, 2002
was 43.5%, compared to 40.0% for the corresponding period of the prior year.

The Company recognized a loss before cumulative effect of change in accounting
principle of $0.3 million in the three months ended December 27, 2002, compared
to a loss of $0.4 million in the corresponding period of the prior year.
Earnings per common share before cumulative effect of change in accounting
principle totaled $0.03 for the three months ended December 27, 2002 compared to
$0.05 in the prior year.

Change in Accounting Principle

Effective September 29, 2001, the Company adopted SFAS 142. In accordance with
the adoption of this new standard, the Company ceased the amortization of
goodwill.

As required under SFAS 142, the Company performed an assessment of the carrying
value of goodwill using a number of criteria, including the value of the overall
enterprise as of September 29, 2001. This assessment resulted in a write off of
goodwill totaling $22.9 million, net of tax ($2.80 per share for the quarter)
and has been reflected as a change in accounting principle. The write off is
associated with the Watercraft ($12.9 million) and Diving ($10.0 million)
business units. Future impairment charges from existing operations or other
acquisitions, if any, will be reflected as an operating expense in the statement
of operations.

Net loss

Net loss for the three months ended December 27, 2002 was $0.3 million, or $0.03
per share, compared to a loss of $23.3 million, or $2.85 per share, for the
corresponding period of the prior year.

Results on a Continuing Business Basis

The following table shows a first quarter comparison of as reported results and
results from continuing business basis.

<TABLE>
<CAPTION>
------------------------------ ----------------------------------------- ---------------------------------------
(thousands, except per                                                           Continuing Business
share data and percentages)              As Reported             %                    Basis (1)            %
                                  12/27/02        12/28/01    Change          12/27/02        12/28/01   Change
------------------------------ ----------------------------------------- ---------------------------------------
<S>                              <C>             <C>           <C>           <C>             <C>           <C>
Net sales                        $  54,895       $  59,738      (8)          $  54,576       $  47,419     15
Gross profit                     $  23,683       $  25,290      (6)          $  23,687       $  20,631     15
Operating profit (loss)          $     166       $     991     (83)          $     234       $    (354)    NM
Loss (2)                         $    (280)      $    (396)     NM           $    (227)      $  (1,143)    NM
Loss per share (2)               $   (0.03)      $   (0.05)     NM           $   (0.02)      $   (0.14)    NM
------------------------------ ----------------------------------------- ---------------------------------------
(1)  Continuing Business Basis from the first quarter of both years excludes results from the Jack Wolfskin operation,
     which was sold in the fourth quarter of fiscal 2002.
(2)  Loss and loss per share is before cumulative effect of change in accounting principle.
</TABLE>

Financial Condition

The following discusses changes in the Company's liquidity and capital
resources.

                                      -8-
<PAGE>

                                   Operations

Cash flows used for operations totaled $28.0 million for the three months ended
December 27, 2002 and $17.0 million for the corresponding period of the prior
year.

Accounts receivable seasonally increased $5.5 million for the three months ended
December 27, 2002, compared to an increase of $3.4 million in the year ago
period. Days of sales outstanding are in line with the prior year at 78 days.
The Company has also worked to reduce inventory levels at all businesses.
Inventories increased by $6.7 million for the three months ended December 27,
2002 compared to an increase of $7.5 million in the prior year period.
Inventories at December 27, 2002 were $18.5 million lower than the same period a
year ago. The disposition of the Jack Wolfskin business accounted for $12.5
million of this decrease. The Company is producing products at levels adequate
to meet consumer demand for the upcoming outdoor season.

Accounts payable and accrued liabilities decreased $15.1 million for the three
months ended December 27, 2002 and decreased $3.7 million for the corresponding
period of the prior year. The larger decrease in the current year was primarily
related to higher year-end payroll related accruals and final settlement for the
sale of Jack Wolfskin.

Depreciation and amortization charges were $1.9 million for the three months
ended December 27, 2002 and $2.4 million for the corresponding period of the
prior year.

The Company recorded a non-cash charge related to the adoption of SFAS 142 of
$22.9 million during the three months ended December 28, 2001.


                              Investing Activities

Expenditures for property, plant and equipment were $1.7 million for the three
months ended December 27, 2002 and $1.2 million for the corresponding period of
the prior year. The Company's recurring investments are made primarily for
tooling for new products and enhancements. In fiscal 2003, capital expenditures
are anticipated to approach $10.0 million. These expenditures are expected to be
funded by working capital or existing credit facilities. In November 2001, the
Company sold its headquarters facility to a related party. Proceeds from the
sale were $5.0 million. The gain on the sale was recorded as an additional
contribution to equity due to the related party nature of the transaction.


                              Financing Activities

Cash flows used in financing activities totaled $9.4 million for the three
months ended December 27, 2002 compared to cash provided of $7.3 million for the
corresponding period of the prior year. The Company made principal payments on
senior notes of $8.0 million in both the current year and the prior year. The
Company consummated a private placement of long-term debt totaling $50.0 million
during the first quarter of the prior year. Proceeds from the debt were used to
reduce outstanding indebtedness under the Company's primary revolving credit
facility.

Market Risk Management

The Company is exposed to market risk stemming from changes in foreign exchange
rates, interest rates and, to a lesser extent, commodity prices. Changes in
these factors could cause fluctuations in earnings and cash flows. In the normal
course of business, exposure to certain of these market risks is managed by
entering into hedging transactions authorized under Company policies that place
controls on these activities. Hedging transactions involve the use of a variety
of derivative financial instruments. Derivatives are used only where there is an
underlying exposure, not for trading or speculative purposes.

                                      -9-
<PAGE>

                               Foreign Operations

The Company has significant foreign operations, for which the functional
currencies are denominated primarily in Euro dollars, Swiss francs, Japanese yen
and Canadian dollars. As the values of the currencies of the foreign countries
in which the Company has operations increase or decrease relative to the U.S.
dollar, the sales, expenses, profits, assets and liabilities of the Company's
foreign operations, as reported in the Company's Consolidated Financial
Statements, increase or decrease, accordingly. The Company mitigates a portion
of the fluctuations in certain foreign currencies through the purchase of
foreign currency swaps, forward contracts and options to hedge known
commitments, primarily for purchases of inventory and other assets denominated
in foreign currencies.

                                 Interest Rates

The Company's debt structure and interest rate risk are managed through the use
of fixed and floating rate debt. The Company's primary exposure is to United
States interest rates. The Company also periodically enters into interest rate
swaps, caps or collars to hedge its exposure and lower financing costs.

                                   Commodities

Certain components used in the Company's products are exposed to commodity price
changes. The Company manages this risk through instruments such as purchase
orders and non-cancelable supply contracts. Primary commodity price exposures
are metals, plastics and packaging materials.

                         Sensitivity to Changes in Value

The estimates that follow are intended to measure the maximum potential fair
value or earnings the Company could lose in one year from adverse changes in
foreign exchange rates or market interest rates under normal market conditions.
The calculations are not intended to represent actual losses in fair value or
earnings that the Company expects to incur. The estimates do not consider
favorable changes in market rates. Further, since the hedging instrument (the
derivative) inversely correlates with the underlying exposure, any loss or gain
in the fair value of derivatives would be generally offset by an increase or
decrease in the fair value of the underlying exposures. The positions included
in the calculations are currency swaps and fixed rate debt. The calculations do
not include the underlying foreign exchange positions that are hedged by these
market risk sensitive instruments. The table below presents the estimated
maximum potential one year loss in fair value and earnings before income taxes
from a 10% movement in foreign currencies and a 100 basis point movement in
interest rates on market risk sensitive instruments outstanding at December 27,
2002:

-------------------------------------------------------------------------------
(millions)                                                Estimated Impact on
-------------------------------------------------------------------------------
                                                              Earnings Before
                                   Fair Value                    Income Taxes
-------------------------------------------------------------------------------
Interest rate instruments                $2.1                            $0.7
-------------------------------------------------------------------------------

Other Factors

The Company has not been significantly impacted by inflationary pressures over
the last several years. The Company anticipates that changing costs of basic raw
materials may impact future operating costs and, accordingly, the prices of its
products. The Company is involved in continuing programs to mitigate the impact
of cost increases through changes in product design and identification of
sourcing and manufacturing efficiencies. Price increases and, in certain
situations, price decreases are implemented for individual products, when
appropriate.


                                      -10-
<PAGE>

Critical Accounting Policies and Estimates

The Company's management discussion and analysis of its financial condition and
results of operations are based upon the Company's consolidated financial
statements, which have been prepared in accordance with accounting principles
generally accepted in the United States. The preparation of these financial
statements requires the Company to make estimates and judgments that affect the
reported amounts of assets, liabilities, revenues and expenses, and related
footnote disclosures. On an on-going basis, the Company evaluates its estimates,
including those related to customer programs and incentives, product returns,
bad debts, inventories, intangible assets, income taxes, warranty obligations,
pensions and other post-retirement benefits, and litigation. The Company bases
its estimates on historical experience and on various other assumptions that are
believed to be reasonable under the circumstances, the results of which form the
basis for making judgments about the carrying values of assets and liabilities
that are not readily apparent from other sources. Actual results may differ from
these estimates under different assumptions or conditions.

The Company believes the following critical accounting policies affect its more
significant judgments and estimates used in the preparation of its consolidated
financial statements.

                         Allowance for Doubtful Accounts

The Company recognizes revenue when title and risk of ownership have passed to
the buyer. Allowances for doubtful accounts are estimated at the individual
operating companies based on estimates of losses related to customer receivable
balances. Estimates are developed by using standard quantitative measures based
on historical losses, adjusting for current economic conditions and, in some
cases, evaluating specific customer accounts for risk of loss. The establishment
of reserves requires the use of judgment and assumptions regarding the potential
for losses on receivable balances. Though the Company considers these balances
adequate and proper, changes in economic conditions in specific markets in which
the Company operates could have a favorable or unfavorable effect on reserve
balances required.

                                   Inventories

The Company values inventory at the lower of cost (determined using the first-in
first-out method) or market. Management judgment is required to determine the
reserve for obsolete or excess inventory. Inventory on hand may exceed future
demand either because the product is outdated or because the amount on hand is
more than can be used to meet future needs. Inventory reserves are estimated at
the individual operating companies using standard quantitative measures based on
criteria established by the Company. The Company also considers current forecast
plans, as well as, market and industry conditions in establishing reserve
levels. Though the Company considers these balances to be adequate, changes in
economic conditions, customer inventory levels or competitive conditions could
have a favorable or unfavorable effect on reserve balances required.

                                 Deferred Taxes

The Company records a valuation allowance to reduce its deferred tax assets to
the amount that is more likely than not to be realized. While the Company has
considered future taxable income and ongoing prudent and feasible tax planning
strategies in assessing the need for the valuation allowance, in the event the
Company were to determine that it would not be able to realize all or part of
its net deferred tax asset in the future, an adjustment to the deferred tax
asset would be charged to income in the period such determination was made.
Likewise, should the Company determine that it would be able to realize its
deferred tax assets in the future in excess of its net recorded amount, an
adjustment to the deferred tax asset would increase income in the period such
determination was made.

                                      -11-
<PAGE>

                       Goodwill and Intangible Impairment

In assessing the recoverability of the Company's goodwill and other intangibles
the Company must make assumptions regarding estimated future cash flows and
other factors to determine the fair value of the respective assets. If these
estimates or their related assumptions change in the future, the Company may be
required to record impairment charges for these assets not previously recorded.
On September 29, 2001 the Company adopted Statement of Financial Accounting
Standards No. 142, "Goodwill and Other Intangible Assets," and was required to
analyze its goodwill for impairment issues during the first six months of fiscal
2002, and then on a periodic basis thereafter. As a result of this analysis, the
Company recorded a goodwill impairment charge of $22.9 million, net of tax, in
the second quarter of fiscal 2002.

                                   Warranties

The Company accrues a warranty reserve for estimated costs to provide warranty
services. The Company's estimate of costs to service its warranty obligations is
based on historical experience, expectation of future conditions and known
product issues. To the extent the Company experiences increased warranty claim
activity or increased costs associated with servicing those claims, revisions to
the estimated warranty reserve would be required. The Company engages in product
quality programs and processes, including monitoring and evaluating the quality
of its suppliers, to help minimize warranty obligations.

Pending Accounting Change

In June 2002, the FASB issued SFAS No. 146, Accounting for Costs Associated with
Exit or Disposal Activities (SFAS 146). SFAS 146 requires recording costs
associated with exit or disposal activities at their fair values when a
liability has been incurred. Under previous guidance, certain exit costs were
accrued upon management's commitment to an exit plan, which is generally before
an actual liability has been incurred. The provisions of SFAS 146 are effective
for exit or disposal activities that are initiated after December 31, 2002.
Accordingly, SFAS 146 may affect the timing of recognizing future costs
associated with exit or disposal activities.

Item 3.   Quantitative and Qualitative Disclosures About Market Risk

Information with respect to this item is included in Management's Discussion and
Analysis of Financial Condition and Results of Operations under the heading
"Market Risk Management."

Item 4.   Controls and Procedures

(a)  Within the 90 days prior to the date of this report, we carried out an
     evaluation, under the supervision and with the participation of our
     management, including the Company's principal executive officer and
     principal financial officer, of the effectiveness of the design and
     operation of our disclosure controls and procedures pursuant to Exchange
     Act Rule 13a-15. Based upon that evaluation, the Company's principal
     executive officer and principal financial officer concluded that our
     disclosure controls and procedures are effective in alerting them in a
     timely manner to material information relating to our Company (including
     our consolidated subsidiaries) required to be included in our periodic SEC
     filings.

(b)  There have been no significant changes in our internal controls or in other
     factors that could significantly affect our internal controls subsequent to
     the date we carried out this evaluation, including any corrective actions
     with regard to significant deficiencies and material weaknesses.

                                      -12-
<PAGE>

PART II   OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K

(a)  The following exhibits are filed as part of this Form 10-Q

     99.1 Certification of Chairman and CEO pursuant to 18 U.S.C.ss.1350

     99.2 Certification of Vice President and CFO pursuant to 18 U.S.C.ss.1350

(b)  Reports on Form 8-K.

     No reports on Form 8-K were filed during the three months ended December
27, 2002.


                                      -13-
<PAGE>

                              JOHNSON OUTDOORS INC.


                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                   JOHNSON OUTDOORS INC.

Date:  February 10, 2003
                                   /s/ Helen P. Johnson-Leipold
                                   ---------------------------------------------
                                   Helen P. Johnson-Leipold
                                   Chairman and Chief Executive Officer



                                   /s/ Paul A. Lehmann
                                   ---------------------------------------------
                                   Paul A. Lehmann
                                   Vice President and Chief Financial Officer
                                   (Principal Financial and Accounting Officer)


                                      -14-
<PAGE>

                             JOHNSON OUTDOORS INC.



I, Helen P. Johnson-Leipold, certify that:


1.    I have reviewed this quarterly report on Form 10-Q of Johnson Outdoors
      Inc.;

2.    Based on my knowledge, this quarterly report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the circumstances under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report;

3.    Based on my knowledge, the financial statements, and other financial
      information included in this quarterly report, fairly present in all
      material respects the financial condition, results of operations and cash
      flows of the registrant as of, and for, the periods presented in this
      quarterly report;

4.    The registrant's other certifying officer and I are responsible for
      establishing and maintaining disclosure controls and procedures (as
      defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we
      have:

      (a)  designed such disclosure controls and procedures to ensure that
           material information relating to the registrant, including its
           consolidated subsidiaries, is made known to us by others within those
           entities, particularly during the period in which this quarterly
           report is being prepared;

      (b)  evaluated the effectiveness of the registrant's disclosure controls
           and procedures as of a date within 90 days prior to the filing date
           of this quarterly report (the "Evaluation Date"); and

      (c)  presented in this quarterly report our conclusions about the
           effectiveness of the disclosure controls and procedures based on our
           evaluation as of the Evaluation Date;

5.    The registrant's other certifying officer and I have disclosed, based on
      our most recent evaluation, to the registrant's auditors and the audit
      committee of registrant's board of directors (or persons performing the
      equivalent functions):

      (a)  all significant deficiencies in the design or operation of internal
           controls which could adversely affect the registrant's ability to
           record, process, summarize and report financial data and have
           identified for the registrant's auditors any material weaknesses in
           internal controls; and

      (b)  any fraud, whether or not material, that involves management or other
           employees who have a significant role in the registrant's internal
           controls; and

6.    The registrant's other certifying officer and I have indicated in this
      quarterly report whether or not there were significant changes in internal
      controls or in other factors that could significantly affect internal
      controls subsequent to the date of our most recent evaluation, including
      any corrective actions with regard to significant deficiencies and
      material weaknesses.


  /s/ Helen P. Johnson-Leipold
  -----------------------------------------------------
  Helen P. Johnson-Leipold
  Chairman and Chief Executive Officer
  February 10, 2003

                                      -15-
<PAGE>


                             JOHNSON OUTDOORS INC.



I, Paul A. Lehmann, certify that:


1.    I have reviewed this quarterly report on Form 10-Q of Johnson Outdoors
      Inc.;

2.    Based on my knowledge, this quarterly report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the circumstances under which such
      statements were made, not misleading with respect to the period covered by
      this quarterly report;

3.    Based on my knowledge, the financial statements, and other financial
      information included in this quarterly report, fairly present in all
      material respects the financial condition, results of operations and cash
      flows of the registrant as of, and for, the periods presented in this
      quarterly report;

4.    The registrant's other certifying officer and I are responsible for
      establishing and maintaining disclosure controls and procedures (as
      defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we
      have:

      (a)  designed such disclosure controls and procedures to ensure that
           material information relating to the registrant, including its
           consolidated subsidiaries, is made known to us by others within those
           entities, particularly during the period in which this quarterly
           report is being prepared;

      (b)  evaluated the effectiveness of the registrant's disclosure controls
           and procedures as of a date within 90 days prior to the filing date
           of this quarterly report (the "Evaluation Date"); and

      (c)  presented in this quarterly report our conclusions about the
           effectiveness of the disclosure controls and procedures based on our
           evaluation as of the Evaluation Date;

5.    The registrant's other certifying officer and I have disclosed, based on
      our most recent evaluation, to the registrant's auditors and the audit
      committee of registrant's board of directors (or persons performing the
      equivalent functions):

      (a)  all significant deficiencies in the design or operation of internal
           controls which could adversely affect the registrant's ability to
           record, process, summarize and report financial data and have
           identified for the registrant's auditors any material weaknesses in
           internal controls; and

      (b)  any fraud, whether or not material, that involves management or other
           employees who have a significant role in the registrant's internal
           controls; and

6.    The registrant's other certifying officer and I have indicated in this
      quarterly report whether or not there were significant changes in internal
      controls or in other factors that could significantly affect internal
      controls subsequent to the date of our most recent evaluation, including
      any corrective actions with regard to significant deficiencies and
      material weaknesses.




  /s/ Paul A. Lehmann
  -----------------------------------------------------
  Paul A. Lehmann
  Vice President and Chief Financial Officer
  February 10, 2003


                                      -16-
<PAGE>

                             JOHNSON OUTDOORS INC.


                 Exhibit Index to Quarterly Report on Form 10-Q




Exhibit
Number    Description
------    -----------

99.1      Certification of Chairman and CEO pursuant to 18 U.S.C.ss.1350

99.2      Certification of Vice President and CFO pursuant to 18 U.S.C.ss.1350

                                      -17-

</TEXT>
</DOCUMENT>
