S&W Quarterly Profits Up 458%

[Burgermeister]

Smith & Wesson Holding Corporation Reports First Quarter Fiscal 2010 Financial Results



Record Quarterly Sales of $102 Million (+30%)

Record Quarterly Net Income of $12.6 Million (+458%)

Record Quarterly, Fully Diluted EPS of $0.21 (+320%)

Record Adjusted EBITDAS of $20 Million


SPRINGFIELD, Mass., Sept. 9 /PRNewswire-FirstCall/ -- Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., the legendary 157-year old company in the global business of safety, security, protection and sport, today announced financial results for the first fiscal quarter ended July 31, 2009.


Net sales for the first fiscal quarter ended July 31, 2009 were $102.2 million, which was $23.8 million, or 30.3%, higher than net sales of $78.5 million for the first fiscal quarter last year. Gross profit of $35.6 million, or 34.8% of sales, for the first quarter of fiscal 2010 increased by 43.4% compared with gross profit of $24.8 million, or 31.7% of sales, for the first quarter last year. Net income for the first quarter of fiscal 2010 was $12.6 million, or $0.21 per diluted share, compared with $2.3 million, or $0.05 per diluted share, for the first quarter of fiscal 2009. Net income included a non-cash, fair-value adjustment to the contingent consideration accrual related to our acquisition of Universal Safety Response ("USR") that increased fully diluted earnings per share by $0.05 in the current fiscal period. Adjusted EBITDAS, a non-GAAP financial measure, was $20.2 million for the first quarter, nearly double the $10.2 million in the first quarter of fiscal 2009.


Smith & Wesson President and CEO, Michael F. Golden, said, "Ongoing consumer demand for handguns and tactical rifles fueled our strong growth and allowed us to deliver record financial results in the first quarter. Higher production levels in our Springfield factory allowed us to capture additional revenue in the quarter, and a focus on controlling costs helped translate that revenue into profitability."

http://news.prnewswire.com/DisplayR...&STORY=/www/story/09-09-2009/0005090939&EDATE

 

[CRSIII]

Do you have a link?
ETA: Nevermind.

 

[glide]

Glad I'm making a difference.

 

[HTRN]

who hoo!!

 

[tele_mark]

CAN YOU HEAR US NOW?!?!?!?

 

[Speedway]

Glad I'm making a difference.

Myself included!

 

[25th_pull]

Wish I bought stock in S&W!!

 

[Garys]

Obama should get a commission.

 

[RoyB]

S&W......A company Clinton nearly put out of business...........And it was sold by the British company Thompson for a paltry $7m........of which only $1m was cash!

The new owners "Safety Trigger"(?) had to assume all legal liability of the Clinton fiasco, which vaporized into nothing..............Man, what a deal!

 

[Bob J]

Good for them..... Can't forget to credit the "salesman of the year".....

 

[yanici]

Good healthy company making money and treats their customers very well. They have a great recipe for success. My next gun is going to be a Smith, just not sure which model yet. Way to go S&W!

Edit: They gotta get rid of that IL lock though, Sigh!

 

[BearArms]

Wish I bought stock in S&W!!

First thing I thought when I seen this.

 

[bolt]

First thing I thought when I seen this.

You would have been better off w/RGR, check it out.

 

[Rob]

Kinda makes me tingly in my happy place.

Flood the streets with legal guns in the hands of lawful citizens. Do it for the children.

 

[~kev~]

I had heard that gun sales were through the roof. But seeing those numbers puts everything into perspective.

Ongoing consumer demand for handguns and tactical rifles fueled our strong growth and allowed us to deliver record financial results in the first quarter.

I wonder if it was mostly from the sale of "tactical rifles" that drove up the profits? Out of that 458% increase, was the rifle sales the majority of it? Just kind of makes me wonder.