Gun makers take cover

Amid a backlash against certain types of weapons, quarterly reports don't tell what the companies sell.

By 247 Wall St. Jan 23, 2013 2:40PM

Image CEO copyright Mike Kemp, RubberBall, SuperStockBy Douglas A. McIntyre 


There is nothing wrong with making and marketing guns, if people kill people, and guns do not. One of the odd things about companies that sell guns, however, is that they do not want people to know which guns they sell. In a sense, these companies are gun-shy, probably because of the long-term backlash against certain weapons.


The Sturm, Ruger & Company (RGR) 10-Q tells several things. Its sales were up from $80.5 million in the third quarter of 2011 to $118.2 million in the most recent quarter. Net income rose from $10.7 million to $17.3 million. It is a good business.


However, there is a mystery about which models Sturm, Ruger & Co. sells and in what quantities. The company discloses almost everything else an outsider might want to know about itself.


Sales outside the U.S. were only 3% of the total in the third quarter. Maybe it is hard to get permission to ship guns overseas. A whopping 99% of what the company sells is guns. Sturm, Ruger & Co. is a gun company. Inventories are valued using the last-in, first-out (LIFO) method. But what is in those inventories?


Sturm, Ruger & Co. has good employee benefits, according to its 10-Q. It continues to return money to shareholders through a cash dividend of $0.377 per share.


Sturm, Ruger & Co., is an innovator, or so its claims. New product introductions in the first nine months of 2012 included the 10/22 TakeDown rifle, the Ruger American Rifle, the SR22 pistol, the 22/45 Lite pistol, and the Single-Nine revolver. New products represented $130.3 million or 38% of firearm sales in the first nine months of 2012.


The company does not say how many of any of those new products it sold. Sturm, Ruger & Co. reports that it had 318,300 units ordered in the past quarter. It does not break those down by product, though. It shipped 425,000 units in the same period.


Once again, there is nothing wrong with selling guns legally, but it is odd that gun companies do not want outsiders to know precisely what they sell.


More from 24/7 Wall St.

Tags: RGR
Jan 23, 2013 6:09PM
These gun haters should stop calling ARMED POLICE if they fear guns.   It is not the guns, it is  the PEOPLE using them.  94% of people in Prison are democrats, should we assume that all democrats are dangerous?   Should we restrict their freedoms because of this?

The Second Amendment gives us the right to bear arms.   All those that oppose the Constitution are what I call traitors, especially if they, like Obama have sworn an oath to uphold it.

Any law, regulation or executive order that restricts ones rights is clearly unconstitutional and should be ignored.    Those that try to enforce such laws must understand many will few them as violating their oaths to UPHOLD the Constitution, and thus think them traitors.

Jan 23, 2013 3:33PM
the next time limo pat is getting mugged or raped and wishes either he or someone on his side had a gun handy , i hope he keeps his comment in mind.maybe he will still have his manhood afterwards .
Jan 23, 2013 4:24PM
And Why should they....Guns do not harm anything one unless used improperly....!!!
Jan 23, 2013 8:40PM
Why does it matter what color widgets the widget maker sells.  As an investor I expect profits that are made legally and morally.  SRM does both.  I buy shoot and trade guns.  It is the manufactures and my business what guns I buy.  Criminals would like that information. Just like car thieves target the most popular models so would burglars.
Jan 23, 2013 10:45PM
YEAH, LETS all join in a course of maya coupa. Guns are good, guns have kept this country free for over 200 years. Its kept the evil away from the door. From the English to the japanese, and now, the commies/liberal gun grabbers.
We're not giving our guns up. So get used to the idea. Or better yet read what Sheriffs and Law enforcement are doing to keep America Free.
Jan 25, 2013 8:24AM






#1  911 can send help at 80mph…….

       a Weapon WILL deliver that Help at over 800mph




#2   Help could be PARKED at The Doughnut Shop

        Or it could be right there in YOUR HAND



#3   "The only thing that stops a BAD GUY with a

        Gun is a GOOD GUY with a Gun”                   

Jan 23, 2013 8:35PM
Is it okay for the guy down the road to possess nuclear weapons? SCUD missles? Fifty caliber machine guns? If you don't think so, then there are limits on the constitutional right to bear arms. It's just a question of where we draw the line. Want a musket? Have at it.
Jan 23, 2013 4:53PM

I guess when people live in the intercity it`s kill or be killed.Fortunately, I have an education

in live in a good area.Usually, instead of protecting one`s family the person that gets shot

is the son coming home from the bars.Seldom is the bad guy shot.There are home security

systems.Nothing is failsafe.

Jan 23, 2013 2:49PM

Did you see those shootings at the gun shows last week?I keep hearing the guns lovers saying

guns are safe and needed.Mostly their manhood is in question.A little man with a gun makes the

loser feel like John Wayne.John Wayne ducked the service, by the way.It`s too bad

the far right values guns more than education.

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