Smith & Wesson Posts Record First Quarter

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Smith & Wesson Posts Record First Quarter

Smith & Wesson reported Thursday that profit increased 25 percent in the first quarter, compared to the same period a year ago. Net income increased to $3.4 million, or 8 cents per share, from $2.7 million, or 7 cents per share, last year. Firearms sales for the quarter grew 54 percent, reflecting an 83.5 percent increase in Smith & Wesson pistol sales and a 73 percent increase in Walther pistol sales, the company said. Sales for the quarter rose to $47.6 million, compared to $31.8 million last year. Smith & Wesson is traded on the NASDAQ Global Select Market under the ticker symbol SWHC.

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