90 Miles From Tyranny : Smith & Wesson has announced record sales for its most recent quarter.

Sunday, December 9, 2012

Smith & Wesson has announced record sales for its most recent quarter.

Smith & Wesson: Inside the Springfield manufacturing facility

SPRINGFIELD MASACHUSETTES — Smith & Wesson has announced record sales for its most recent quarter.

Net sales from continuing operations for the second quarter were a record $136.6 million, up 48 percent from the second quarter last year, according to a news release issued this week.

It was the second consecutive quarter of record sales.

The company employs more than 1,200 workers at its factory and headquarters on Roosevelt Avenue.
Smith & Wesson: Inside the Springfield manufacturing facilityFederal background checks for gun purchasers were up over Black Friday. Many observers say that's because gun buyers fear that a re-elected President Barack Obama will impose more gun restrictions. But Smith & Wesson has pointed to a long-term upward trend in gun ownership driven by people wanting to get into shooting as a sport and a hobby.

Smith & Wesson said the increase was led by continued strong sales across all of the company's firearm product lines, including M&P-branded products, such as pistols, modern sporting rifles and the recently launched Shield pistol designed for concealed carry and personal protection.

Gross profit for the second quarter was $48.5 million, or 35 percent of net sales, compared with gross profit of $24.6 million, or 26.7 percent of net sales, for the comparable quarter last year.
Smith & Wesson: Inside the Springfield manufacturing facility
Operating expenses for the second quarter were $21.9 million, or 16 percent of net sales, compared with operating expense of $21.2 million, or 22.9 percent of net sales, for the second quarter last year.

The company also announced a program to repurchase up to $20 million of the company's outstanding shares of common stock from time to time until June 30. Smith & Wesson stock was trading at midday Friday at $10.05 per share, a drop of 80 cents a share. For the year, the stock is up from $4.36.

Smith & Wesson expects net sales from continuing operations for the third quarter of fiscal 2013 to be between $126 million and $131 million, which would represent year-over-year growth from continuing operations in excess of 30 percent.




1 comment:

  1. Good for them. I have a model 41 that is the cat's meow in .22 lr. We all should vow to buy one S&W product in 2013, have a picture taken of it being used/held by a cute girl, and send the photo here to be published. That, my friends, would be fun!

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