Smith & Wesson this week announced a record-setting fiscal year amid an ongoing gun-and-ammunition frenzy in the United States that has persisted since last year.
Company CEO Mark Smith said in a company earnings call on Thursday that the gun manufacturer in the past fiscal year "surpass[ed] $1 billion in sales for the first time in our 169-year history."
Smith said the company also posted "fourth quarter revenue of nearly $323 million," which he said was "the highest quarter ever on record and marks the fourth consecutive record-breaking quarter for the company."
He said the record year allowed the company to "completely pay off our $160 million debt, return over $8 million to shareholders through dividends and reduce our outstanding shares by over 14%."
The company's surging profits come as U.S. gun and ammunition sales have consistently shattered records, with monthly U.S. gun background checks up significantly year-over-year and an ongoing ammo shortage continuing to grip the country's consumer guns market.
Originally posted by G-Man: Glad to hear it, but hopefully they crank out a Model 640 and send it to the LGS where I have already paid for it. 10 months ago!
In the last week I have seen M&P 380 EZ and 9mm M&P's in stock at a few distributors so that is what they have made the most of lately. Have seen one revolver in 41 mag but no other revolvers. Actually in the last few weeks I have finally seen a few guns in stock ay my wholesalers - it's been over a year the last time I could find anything.
Since they're their own company now, I went their Facebook page, and suggested they get rid of the lock on they revolvers. Maybe now that they don't have a gun unfriendly corporate overlord, maybe they'll consider it.
The amount of money companies like CZ lost b/c they were idiots in not pulling Dan Wesson out of NY is probably staggering. Doubling down and buying Colt, then still leaving it in CT speaks volumes for their lack of understanding of U.S. politics. I understand the latter’s rationale but if closures are forced, intentions get you nowhere.
Posts: 3393 | Location: Mid-Atlantic | Registered: December 27, 2002
Very true. H&K and Glock were a bit more intelligent in selecting their US base of operations. I would probably choose Georgia or Florida if I owned a firearm company. At the very least choosing a state that isn’t openly hostile towards firearms seems like a no brainer.
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The price of liberty and even of common humanity is eternal vigilance
Posts: 21251 | Location: San Dimas CA, The Old Dominion or the Tar Heel State. | Registered: April 16, 2007
I bet CZ knows to the penny what the financial implications of moving their operations would be. And the fact that they haven't done so, strongly suggest they'd be negative.
The considerations for picking a location to start a new operation are significantly simpler than moving an existing one. And even states/localities that anti-gun generally do not take that out on gun manufacturers that are located in their jurisdictions, so as to keep they jobs and tax revenue they generate. So the hypocrisy runs both way.
quote:
Originally posted by Dakor: The amount of money companies like CZ lost b/c they were idiots in not pulling Dan Wesson out of NY is probably staggering. Doubling down and buying Colt, then still leaving it in CT speaks volumes for their lack of understanding of U.S. politics. I understand the latter’s rationale but if closures are forced, intentions get you nowhere.
I 'hope' this retarded administration is watching all of this while contemplating their gun control agenda. Gun control now affects substantially more gun owning Americans than ever before.
----------------------------- Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
Where this rubber might hit the road is in Congress. As much as Biden and his people would like to, there's a significant limit to what they can do with new legislation. And, or course, that requires congress.
All the congresscritters are up for election every two years. So if they piss off they're voters, they can be gone pretty quickly. So if gun owners in otherwise left voting districts assert themselves, it can make gun legislation hard to pass. I think the Democritters are finding this out the hard way.
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Originally posted by bigdeal: I 'hope' this retarded administration is watching all of this while contemplating their gun control agenda. Gun control now affects substantially more gun owning Americans than ever before.
Sometime last year I read an article on S&W. They stated that they were going all in on the buying surge, increasing capacity, whatever it took. Most companies were taking a wait and see approach as these surges are cyclical. It seems Smith's gamble may be paying off. Since the crunch hit last April the only brand I saw consistently, online and in stores, has been S&W.
