17 unchanged sentences
Markets outside of North America are accessed through a network of international distributors.
−Removed: Fishing has achieved market share gains by focusing on innovative technology, quality products and effective marketing.
+Added: Fishing growth has been driven by focusing on innovative technology, quality products and effective marketing.
Such consumer marketing and promotion activities include:
21 unchanged sentences
and Canada through independent sales representatives, primarily to camping and backpacking specialty stores, sporting goods stores, internet retailers, and direct to consumer via the Jetboil brand website.
+Added: Markets outside of North America are accessed through a network of international distributors.
Marketing of Jetboil systems is focused on building brand awareness and leadership in product features and innovation, primarily through digital marketing and social media.
Jetboil products are designed at the Company’s operating location in Manchester, New Hampshire and manufactured by third party sources in Asia.
−Removed: Markets outside of North America are accessed through a network of international distributors.
Watercraft Recreation
3 unchanged sentences
Watercraft Recreation accessory brands, including Carlisle branded paddles, are produced primarily by third party sources located in North America and Asia.
−Removed: The company's personal flotation devices are manufactured by third party sources located in Asia and are sold primarily under the Old Town brand.
+Added: The company's personal flotation devices are manufactured by third party sources located in Asia and are sold under the Old Town brand.
The Company’s kayaks, canoes and accessories are sold through multiple channels primarily in the U.S.
6 unchanged sentences
The Company markets a complete line of underwater diving and snorkeling equipment, including regulators, buoyancy compensators, dive computers and gauges, wetsuits, masks, fins, snorkels and accessories.
−Removed: SCUBAPRO diving equipment is marketed to the premium segment and high performance technical diving market.
+Added: SCUBAPRO diving equipment is marketed to the premium recreational segment and high-performance technical diving market.
Products are sold via select distribution to independent specialty dive stores worldwide.
5 unchanged sentences
The Company manufactures regulators, dive computers, gauges, and instruments at its Italian and Indonesian facilities.
−Removed: The Company sources buoyancy compensators, neoprene goods, plastic products, proprietary materials, and other components from third parties.
+Added: The Company sources buoyancy compensators, neoprene goods, diving and snorkeling soft goods, proprietary materials, and other components from third party contract manufacturers.
Financial Information for Business Segments
12 unchanged sentences
Research and development activities for Watercraft Recreation are performed in Old Town, Maine.
−Removed: Product research, design and innovation for Camping products are conducted at the Company's Binghamton, New York and Manchester, New Hampshire locations.
+Added: Product research, design and innovation for Camping products are conducted at the Company's Binghamton, New York, Racine, Wisconsin and Manchester, New Hampshire locations.
The Company expenses research and development costs as incurred, except for software development for new electronics products and bathymetry data collection and processing.
3 unchanged sentences
The Company believes its products compete favorably on the basis of product innovation, product performance and marketing support and, to a lesser extent, price.
−Removed: Minn Kota’s competitors in the electric trolling motors business are Motor Guide®, owned by Brunswick Corporation, Garmin ™ and Lowrance ™ .
+Added: Minn Kota’s competitors in the electric trolling motors business are Motor Guide® and Lowrance ™ , owned by Brunswick Corporation, and Garmin ™ .
Competition in this business is focused on technological innovation, product quality and durability as well as product benefits and features for fishing.
2 unchanged sentences
Humminbird products contain marine cartography features.
−Removed: Competitors offering marine cartography products include Navionics®, owned by Garmin, and C-Map®, owned by Navico.
+Added: Competitors offering marine cartography products include Navionics®, owned by Garmin, and C-Map®, owned by Brunswick Corporation.
Competition in this business focuses primarily on quality of data and quantity of available charts for inland lakes and ocean shoreline.
21 unchanged sentences
Unfilled orders for future delivery of products varies as a result of numerous factors impacting the Company (including those described in the section titled “Risk Factors” below ) and because of the non-binding nature of such orders, the Company does not believe that backlog information is material to the understanding of its business.
−Removed: At October 2, 2020, the Company had approximately 1,200 regular, full-time employees.
+Added: At October 1, 2021, the Company had approximately 1,400 regular, full-time employees, of which approximately 1,000 were employed in the United States and approximately 400 were employed outside of the United States.
+Added: Approximately 55 or 4% were represented by a collective bargaining agreement, all of whom are located at our facilities in Batam, Indonesia.
+Added: In recent years, we have not experienced any significant work slowdowns, stoppages, or other labor disruptions.
The Company considers its employee relations to be excellent.
Temporary employees are utilized primarily to manage peaks in the seasonal manufacturing of products.
+Added: The Company remains committed to areas of work place safety, product quality and customer satisfaction.
+Added: Successful execution of our mission is dependent on attracting, developing and retaining key employees and members of our management team, as well as providing competitive pay and benefits.
+Added: In response to the COVID-19 pandemic, the Company has generally maintained its headcount as it has accommodated our operations to the virus environment.
+Added: The Company has taken what it believes to be appropriate measures to ensure the health and safety of its employees and has, in certain cases, permitted remote working.
Patents, Trademarks and Proprietary Rights
4 unchanged sentences
The Company manufactures some products that use parts or materials that, due to geographical distance, limited supplier capacity or availability or competing demands for such parts or materials, are only available in a cost effective manner from a single vendor or require the Company to place orders several months in advance of required delivery.
−Removed: The Company attempts to mitigate product availability and these supply chain risks when possible through the purchase of safety stock, use of forecast-based supply contracts, and, to a lesser extent, with just in time inventory deliveries or supplier-owned inventory located close to the Company’s manufacturing locations.
−Removed: The Company strives to balance the businesses’ need to maintain adequate inventory levels with the cost of holding such inventory by manufacturing to forecast for high volume products, utilizing build-to-order strategies wherever possible, and by having contract-manufactured products delivered to customers directly from the supplier.
+Added: Historically, the Company attempted to mitigate product availability and these supply chain risks when possible through the purchase of safety stock, use of forecast-based supply contracts, and, to a lesser extent, with just in time inventory deliveries or supplier-owned inventory located close to the Company’s manufacturing locations.
+Added: In doing so, the Company strived to balance the businesses’ need to maintain adequate inventory levels with the cost of holding such inventory by manufacturing to forecast for high volume products, utilizing build-to-order strategies wherever possible, and by having contract-manufactured products delivered to customers directly from the supplier.
The Company also seeks to manage its inventory through on-going product design and logistical initiatives with its suppliers to reduce lead times.
As most military contracts require utilization of domestic suppliers, the Company is limited to key vendors for materials used in its military tent business.
−Removed: The Company’s products are primarily warm-weather, outdoor recreation-related, which results in seasonal variations in sales and profitability for the Company.
−Removed: This seasonal variability is due to customers’ increasing their inventories in the quarters ending March and June, the primary selling season for the Company’s outdoor recreation products, with lower inventory volumes during the quarters ending September and December.
−Removed: The Company mitigates the seasonality of its businesses somewhat by encouraging customers to purchase and take delivery of products more evenly through the year.
+Added: COVID-19 has caused widely-documented supply chain and logistics disruptions across industries, including those in which the Company operates, which have been exacerbated during the latter portion of fiscal 2021 and into fiscal 2022 due to the recent higher demand for the Company’s outdoor recreation products.
+Added: Because the Company expects that these same supply chain disruptions will continue into fiscal 2022, the Company remains focused on evaluating and pursuing additional options (beyond building inventory) to manage its supply chain to meet the continued strong consumer demand for its products.
+Added: Nonetheless, these supply chain disruptions remain fluid and may impact the cost of goods sold for future sales of product or the Company’s ability to fill such customer demand for its products, especially given the volatility and changing circumstances brought on by the COVID-19 pandemic.
+Added: The Company’s products in each of its business segments are primarily warm-weather, outdoor recreation-related, which has historically resulted in seasonal variations in sales and profitability for the Company.
+Added: This seasonal variability traditionally was due to customers’ increasing their inventories in the quarters ending March and June, which is the typical primary selling season for the Company’s outdoor recreation products, with lower inventory volumes during the quarters ending September and December.
+Added: Due to the timing of the COVID-19 outbreak, the Company’s primary-selling season during fiscal 2020 was interrupted resulting in a significant shift in sales volumes during the 2020 fiscal year toward the latter half of that year versus the normal typical primary selling season as noted above which typically occurs during the second and third fiscal quarters.
+Added: The Company cannot predict at this time whether it will experience more typical seasonality in demand for its products during fiscal 2022 and beyond or whether the recent changes in the Company’s seasonality will continue into fiscal 2022.
+Added: Typically and prior to the impact of COVID-19 as noted above, the Company had mitigated the seasonality of its businesses somewhat by encouraging customers to purchase and take delivery of products more evenly through the year.
The following table shows, for the past three fiscal years, the total consolidated net sales and operating profit or loss of the Company for each quarter, as a percentage of the total year.
−Removed: See “Coronavirus (COVID-19)” in Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations for additional information of the impact of COVID-19 on the Company’s seasonality for fiscal 2020.
+Added: See “Coronavirus (COVID-19)” in Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations for additional information of the impact of COVID-19 on the Company’s seasonality for fiscal 2020 and 2021.
2021 2020 2019
13 unchanged sentences
We do not believe that any direct or indirect consequences of legislation related to climate change will have a material adverse effect on our operating costs, facilities or products.
+Added: However, risk of environmental liability and charges associated with maintaining compliance with environmental laws is inherent in the nature of the Company’s business and there is no assurance that material liabilities or charges could not arise.
Available Information
14 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.