Smith & Wesson reported a record $412
million in net sales for the fiscal year ended April 30 and an increase
in income from continuing operations to $26 million for the fiscal year.
A 20 percent increase
in net sales, to a record $412 million for the fiscal year ended April
30, was reported by Smith & Wessen. It also reported an increase in
income from continuing operations to $26 million, or 40 cents per
diluted share, for the fiscal year.
The increase in sales and profit was attributed by the company’s
Chief Executive to strong firearms sales, particularly its Military
& Police (M&P) series of polymer pistols and sporting rifles. He
also said that the sales of its gun maker's newly released M&P
Shield, a compact polymer pistol has been spectacular.
The chief financial officer of the company said that by expanding
capacity the company was able to pay off $30 million worth of debt with
the help of an existing line of credit. Smith & Wesson’s fantastic
performance had a contagious effect on another US gun maker, Sturm,
Ruger & Co (NYSE: RGR), whose stock jumped 7.5 percent Friday.
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