Here’s a headline from an press release that would be the envy of any corporate spokesperson: – Fiscal Third Quarter 2013 Net Sales from Continuing Operations of $136.2 Million, Up 38.8% Year-Over-Year.
James Debney, Smith & Wesson Holding Corporation President and Chief Executive Officer, stated, “Our success in the third quarter was highlighted by significant year-over-year improvements in net sales, margin expansion, and bottom line profitability as we successfully executed our growth strategy, which is underpinned with a focus on firearms. Performance gains were driven by continued robust consumer demand for firearms as well as increased sales of our M&P® polymer pistols and modern sporting rifles. Based on incremental improvements in expanding our production capacity, which will be further deployed in the fourth quarter, we are increasing our financial guidance for the full fiscal year 2013.”
You can read the entire report here.
What’s that mean? M&Ps and ARs put the firm into the stratosphere.
Suffice it to say Smith & Wesson is one of the companies insiders watch most to gauge the health of the firearms industry.
Based on their report, the firearms industry is healthy.
We’ll have a story later today – an interview with a firearms titan – who discusses the industry and the challenges it faces from Washington.
I hope you enjoy reading it as much as I did reporting it.