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Sturm, Ruger & Co. Inc. Message Board

  • bluecheese4u bluecheese4u Aug 1, 2012 9:58 PM Flag

    STURM, RUGER & COMPANY, INC. REPORTS SECOND QUARTER 2012

    STURM, RUGER & COMPANY, INC. REPORTS SECOND QUARTER 2012 FULLY DILUTED EARNINGS OF 91¢ PER SHARE

    SOUTHPORT, CONNECTICUT, August 1, 2012--Sturm, Ruger & Company, Inc. (NYSE-RGR), announced today that for the second quarter 2012, the Company reported net sales of $119.6 million and fully diluted earnings of 91¢ per share, compared with net sales of $79.6 million and fully diluted earnings of 56¢ per share in the second quarter of 2011.
    For the six months ended June 30, 2012, net sales were $231.9 million and fully diluted earnings were $1.71 per share. For the corresponding period in 2011, net sales were $155.1 million and fully diluted earnings were 99¢ per share.
    The Company also announced today that its Board of Directors declared a dividend of 37.7¢ per share for the second quarter, for shareholders of record as of August 13, 2012, payable on August 27, 2012. This dividend varies every quarter because the Company pays a percent of earnings rather than a fixed amount per share. Effective with the dividend paid in March 2012, the Company increased the percent of quarterly earnings paid out as dividends by 67%. This dividend is approximately 40% of net income.
    Chief Executive Officer Michael O. Fifer made the following comments related to the Company’s results:
     Our earnings increased 63% from the second quarter of 2011, driven by the 50% growth in sales and our ongoing focus on continuous improvement in our operations.
     New product introductions were a significant component of our sales growth as new product sales represented $87.8 million or 38% of sales in the first half of 2012. New product introductions in the first half of 2012 included:
    o Ruger American Rifle
    o SR22 pistol
    o 10/22 Takedown rifle
    o 22/45 Lite pistol
     Demand for our products outpaced the growth in overall industry demand as measured by the National Instant Criminal Background Check System (“NICS”) background checks (as adjusted by the National Shooting Sports Foundation) for both the second quarter and six months ended June 30, 2012 as illustrated below:

    http://www.ruger.com/corporate/PDF/ER-2012-08-01.pdf

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