SPRINGFIELD – Smith & Wesson Brands, the gunmaker that now is still based in Springfield, said sales fell 27.4 percent in its most recent quarter. Sales amounted to $129 million, down $48.7 million from the same three months a year ago.
But the $129 million in net sales for the three months that ended Jan. 31 were up $1.6 million, or 1.3%, from November, December and January of 2020, the last pre-pandemic comparable third quarter.
Gun sales spiked during COVID-19, with buyers spooked about perceived risk of civic unrest, flush with relief cash and using time during lockdown to pursue outdoor sports.
In its earnings release Thursday, Smith & Wesson reported profits of $11.1 million, or 24 cents per share, compared with $30.5 million, or 65 cents per diluted share, for the comparable quarter last year, and $4.2 million, or 8 cents per diluted share, for the comparable quarter in fiscal 2020.
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But the $129 million in net sales for the three months that ended Jan. 31 were up $1.6 million, or 1.3%, from November, December and January of 2020, the last pre-pandemic comparable third quarter.
Gun sales spiked during COVID-19, with buyers spooked about perceived risk of civic unrest, flush with relief cash and using time during lockdown to pursue outdoor sports.
In its earnings release Thursday, Smith & Wesson reported profits of $11.1 million, or 24 cents per share, compared with $30.5 million, or 65 cents per diluted share, for the comparable quarter last year, and $4.2 million, or 8 cents per diluted share, for the comparable quarter in fiscal 2020.
Smith & Wesson earnings dip, amid borrowing for relocation to Tennessee
Mark Smith, president and CEO, said the company is pleased with the results, which he said show gains over pre-pandemic levels.
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