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 © 2014 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.
[BRIEFING.COM] The Nasdaq Composite (+0.5%) and S&P 500 (+0.2%) posted modest gains on Thursday, but not before enduring a morning dip into the red, which took place in reaction to reports indicating Russia has commenced military exercises on the Ukrainian border.
The news from Europe knocked the key indices from their early highs, while giving a boost to safe-haven assets like gold futures (+0.5% to $1290.80/ozt), Treasuries (10-yr yield -1 bps to 2.69%), and the Japanese yen (102.30 ... More
More Market News
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'