Firearm sales by Smith & Wesson allowed the company to increase expectation for their fiscal year performance.
According to a press release, Smith & Wesson, one of the largest firearm manufacturers in the world, has reported a boost in demand and sales. It could be a sign that gun buying may be returning to normal.
Smith & Wesson Holding Corp. increased its estimate for its current quarter, as well as the fiscal year ending in April, based on a larger number of orders than they previously anticipated.
From the official release:
For the fourth quarter of fiscal 2015, the company expects net sales of between $175.0 million and $179.0 million and GAAP earnings per diluted share from continuing operations of between $0.34 and $0.36… For full 2015 fiscal year, the company expects net sales of between $546.0 million and $550.0 million and GAAP earnings per diluted share from continuing operations of between $0.84 and $0.86.
Overall, the firearms industry had seen slower gun sales after a surge of demand broke out the last several years, mainly because of anticipated regulation changes in the wake of several high-profile shooting cases. That higher-than-normal demand naturally leveled off, and made performance estimates for guns makers difficult to determine.
Now that Smith & Wesson is reporting another spike in the positive directions, the industry as a whole could begin to see more accurate and improved sales numbers.