https://www.shootingillustrated.com/articles/2020/9/9/smith-wesson-brands-inc-reports-record-breaking-firearms-sales/by SI Staff - Wednesday, September 9, 2020
In case you were wondering if gun sales were having a couple of excellent months, a recent first-quarter report from Smith & Wesson Brands, Inc., gives every indication that firearm sales are as strong as ever.
According to the report, Smith & Wesson Brands, Inc., recorded a quarterly net sales of $278 million, as compared to last year's first quarter earnings of $123.7 million—a 124.8-percent increase over last year. The firearms segment of S&W's business—which made up the bulk of sales for the family of brands—grossed $229.9 million, a 140.9-percent increase over last year.
Mark Smith, president and chief executive officer, said, "I am pleased to report record-breaking first quarter financial results for Smith & Wesson Brands, Inc. ... Our record revenue and unit sales during the quarter demonstrates our ability to rapidly respond to increased demand through our flexible manufacturing model and our state-of-the-art distribution facility, delivering outstanding products that resonate with the firearms consumer.”
Thanks to an outstanding first quarter of sales, Smith reported that the board of directors had authorized the company to declare a regular, quarterly cash dividend of $0.05 per share, which will be payable Oct. 1, 2020 to shareholders of record as of the market close on Sep. 17, 2020.
