Smith & Wesson Sets Quarterly Net Sales Record, Doubling Last Year’s Figures

by
posted on March 9, 2021
smith-wesson-double-net-sales.jpg

Smith & Wesson’s latest quarterly report—issued last week for the three-month period ending Jan. 31—reflects a 102.2-percent increase over the same timeframe last year. Net sales set a record for the company at $257.6 million.

“I could not be more proud of our dedicated American workforce as, for the third time in a row, they delivered a record-breaking quarter for our great historic company,” Mark Smith, Smith & Wesson president and CEO said. “Over the past year, millions of our fellow Americans from all walks of life have chosen to empower themselves by exercising their 2nd Amendment rights for the first time, and our loyal employees have risen to the challenge—delivering over 1.8 million units in the first three quarters of our fiscal year alone, ensuring that these new members of the shooting sports community were able to choose the highest quality, innovative firearms that Smith & Wesson has been known for since 1852. All of this was accomplished while implementing and maintaining aggressive safety measures and process changes to keep safe in the midst of the COVID pandemic.”

“Smith & Wesson’s record-breaking financial performance enabled us to generate $60 million of cash from operations during the quarter,” said Deana McPherson, the company’s executive vice president CFO. “This allowed us to complete a $50 million share-repurchase program, pay our second quarter dividend, and continue to invest in capital, all while growing our cash on hand by $4.1 million during the quarter. I am pleased to announce that our Board has authorized a new $100 million dollar share repurchase program and a $0.05 per share dividend to stockholders of record as of March 17, 2021, with payment to be made on March 31, 2021.” 

Latest

ATN Tico LTV 640 Thermal Sight
ATN Tico LTV 640 Thermal Sight

First Look: ATN Tico LTV 640 Thermal Sight

Add thermal optics capability to almost any rifle scope.

Pro Shop: Make Your Glock Rock

Set your Glock up for competition, personal protection or a great day at the range. 

I Carry: Ruger SP101 Revolver in a Galco Holster

And we’re adding in a CRKT pocketknife.

First Look: MDT Timbr CORE Chassis System

A metal rifle chassis with traditional touches.

First Look: New Suppressors From Bersa

Five new suppressors for everything from rimfire guns to .30 caliber rifles.

Wisconsin Soon to be Home to All Henry Repeating Arms Manufacturing

Moving out of the Garden State and into the Badger State.

Interests



Get the best of Shooting Illustrated delivered to your inbox.