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Gun Reports - News

Smith & Wesson Holding Corporation Reports Fourth Quarter and Full Fiscal 2009 Financial Results

SPRINGFIELD, Mass. -- Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., today announced financial results for the fiscal year and the fourth fiscal quarter ended April 30, 2009.

GunReports Quik-Look Summary:

• Fourth Quarter Sales of $99.5 Million (+20%)
• Fourth Quarter Net Income of $7.4 Million (+125%)
• Fourth Quarter Fully Diluted EPS of $0.14 (+75%)
• Record Annual Sales of $335.0 Million (+13%)
• Firearms Backlog Grows to $268 Million

Net sales for the fourth fiscal quarter ended April 30, 2009 were $99.5 million, $16.4 million, or 19.8%, higher than net sales of $83.1 million for the fourth fiscal quarter last year. Gross profit of $30.9 million, or 31.0%, of sales for the fourth quarter of fiscal 2009 increased compared with gross profit of $25.5 million, or 30.6% of sales, for the fourth quarter last year.

Net income for the fourth quarter of fiscal 2009 was $7.4 million, or $0.14 per diluted share, compared with $3.3 million, or $0.08 per diluted share, for the fourth quarter of fiscal 2008. Adjusted EBITDAS was $15.6 million for the fourth quarter compared with$11.4 million for the fourth quarter of fiscal 2008.

Smith & Wesson President and CEO, Michael F. Golden, said, "Our fourth quarter results reflect a number of records for Smith & Wesson, including record quarterly revenue, record net income, record earnings per share, and record levels in both our cash balances and our firearms backlog. These results demonstrate that we continue to capitalize on the strong consumer demand for our products, particularly our handguns and tactical rifles."

Total firearms sales for the fourth quarter were $93.9 million, an increase of 22.4% over the fourth quarter of last year.

Pistol sales increased 32.8% to $29.0 million.

M&P tactical rifle sales increased by 195.1% to $17.4 million for the fourth quarter.

Total revolver sales were $20.8 million, a decrease of 2.8% versus the comparable quarter one year ago.

Non-firearm sales totaled $5.7 million, a 12.1% decrease from non-firearm sales of $6.4 million for the fourth quarter last year.

Reader Comments

Pistols are now cheaper than revolvers, who would have ever thought that it would happen. But if the Night Guard series can be brought down in price I think their revolver revinue will go up. But notice the hue sales boom in Military non sporting type guns, AR's and Pistols. Thats something to think about because those numbers reflect alot of Civilian sales, Civilians afraid of their Goverment. AR, AK and Pistol sales have been through the roof since last Nov. Think about it!

Comment by: JHMAN | June 25, 2009

I wonder how many military weapons are being bought out of greed rather than fear. I remember in 1994 when the Assault Weapons Ban was passed AR15 style rifles tripled in value and 15 rd. Glock magazines were selling for $100 each. I think a lot of these weapons are being bought due to profit and greed, and I say this not to take away from the fact that we should fear our government at this point and time. However, I think the market is more fueled by greed at this time.

Comment by: Robert J | June 30, 2009