Smith & Wesson Posts 48% Increase In Second Quarter Sales As Demand Surges For All Firearm Products
U.S. firearms manufacturer Smith & Wesson reported a 48 percent increase in sales in its announcement of the company's second-quarter financial results for fiscal year 2013.
The company's press release read:
"Net sales from continuing operations for the second quarter were a record $136.6 million, up 48.0% from the second quarter last year. The increase was led by continued strong sales across all of the company's firearm product lines."
As CNSNews.com previously reported, gun sales have surged since the reelection of Barack Obama, reaching an all-time single day record on Black Friday this year with 154,873 background checks completed by the FBI.
The press release also shows that the company now anticipates higher net sales from continuing operations. The latest projections estimate between $550.0 million and $560.0 million in net sales for fiscal year 2013, which would represent year-over-year growth from continuing operations of approximately 35.0%.
James Debney, President and Chief Executive Officer of Smith & Wesson Holding Corporation stated:
"Our strong fiscal second quarter financial performance reflects the ongoing successful execution of our strategic plan, and accordingly today we are increasing our full year fiscal 2013 financial guidance."