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Smith & Wesson raises expectations for FY 2015 sales
The Smith & Wesson sign hanging overhead. (Photo: Daniel Terrill)
On the dreaded Tax Day, Smith & Wesson Holding Corporation updated expected results for its fourth quarter and full 2015 fiscal year, projecting an 8 percent increase from estimates released in March.
The Massachusetts-based company said orders throughout its fiscal fourth quarter, which ends April 30, have been stronger than originally anticipated.
Smith & Wesson expects net sales between $175 million and $179 million for fourth quarter results, and for the full fiscal year, net sales of between $546 million and $555 million. At the end of its third quarter, Smith & Wesson reported profits totaling $8.1 million.
During an investors conference in early March, the company said after pushing past the surge year in 2013, it would likely return to more predictable sales patterns.
Comparatively Sturm, Ruger & Co. reported a $10.5 million profit for its fourth quarter, closing out 2014 with a total profit of $64 million.
When it raised its expectations for projected results, the company also announced an increase in credit, raising the line from $75 million to $125 million.
The increase is connected to last year’s acquisition of gun accessory maker Battenfeld Technologies, Inc. Smith & Wesson estimates the acquisition will bring in an extra $50 million annually.
The post Smith & Wesson raises expectations for FY 2015 sales appeared first on Guns.com.
Source: http://www.guns.com/2015/04/15/smith-wesson-raises-expectations-for-fy-2015-sales/
