Smith & Wesson sales reach all-time high
The gun manufacturer cranked up production in its factories this year to meet demand.
The company said Thursday it expects $588 million in sales for the fiscal year that ended April 30 -- a stunning 43% increase over the prior year. And profit is expected at $1.22 per share, up from just 40 cents a share a year earlier. The company reports its official results on June 25.
Smith & Wesson has never seen sales like this. The company's sales were pretty stagnant from 2009 to 2011, hovering in the range of $335 million to $358 million. But sales took off after that, fueled largely by consumer worries about a federal crackdown on gun purchases.
Smith & Wesson cranked up its factory production to meet the demand, an analyst told Bloomberg, which helped create the record numbers of the past year.
Investors were very pleased by Smith & Wesson's early numbers, sending shares up about 5% Friday to $9.76. The company is also making investors happy with a new plan to buy back $100 million in shares.
- How the Affordable Care Act becomes unaffordable
- Lululemon plans stores just for men
- Tom Cruise slammed for Wal-Mart comments
POLLYANNA LIBERAL NAIVETY LEADS TO FAR STRONGER FIREARMS INDUSTRY AND BETTER ARMED CITIZENRY, THE OPPOSITE OF THEIR GOAL!
For those whose retirement accounts used to have S&W in their portfolio before your govt pension funds divested...great move. You're banking less now based on their decisions. Personally, I prefer precious metals, especially lead and brass.
Most of the American population is smart. They see the 'big' picture. Good job done, Smith and Wesson....We only need one Department of, and that is the Department of Common Sense.
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Sharing your home with older family members isn't for everyone, but it may cut costs and make caregiving simpler for you. Here's help with eight questions about the money side of the decision.
- High deductibles fuel new worries of Obamacare sticker shock
- How to use your credit card to donate to charity
- Try this instead of raising the minimum wage
- People left $500,000 in coins at airports last year
- How your driving can affect your credit
- Obamacare projected to cost hundreds of billions less
- November jobs report: Winners and losers
- Student loan debt climbs for 5th year in a row
- Wall Street finally notices Bitcoin
[BRIEFING.COM] There wasn't a lot of excitement in the stock market today and there is nothing wrong with that. After rallying in broad-based fashion on Friday, the major indices stood their ground (for the most part) amid a lack of conviction from buyers and sellers alike.
Today wasn't a case so much of the stock market going up as it was a case of some influential stocks going up to keep the major indices on a winning path. In fact, decliners were just about even with ... More
More Market News
The social media stock surged in its first day of trading. But in the month since, shares have gained only 5 cents.