Showing posts with label Smith. Show all posts
Showing posts with label Smith. Show all posts

Monday 2 July 2012

Smith & Wesseon Reports 20 Percent Higher Net Sales

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.

For more details visit here: Smith & Wesseon