Smith & Wesson on Thursday reported a surge in fourth quarter profit and record revenue for the fiscal year. Net income for the fourth quarter was $4.2 million, or 10 cents per share, compared with $1.8 million, or 5 cents per share, in the same period a year ago. For the full year, revenue increased 27.4 percent for a record $157.9 million. "Our results for the year reflected solid execution on the strategy to grow our core handgun business, to diversify our company, and to enter into new markets with new products," said Michael F. Golden, Smith & Wesson president and CEO. Firearms sales for the year grew 29.8 percent, reflecting a 69 percent increase in pistol sales and a 13.7 percent increase in revolver sales. Net income for the year was $8.7 million, or 22 cents per share, an increase of $3.5 million, or 8 cents per share, over the previous year. Smith & Wesson is traded on the American Stock Exchange under the ticker symbol SWB.
