2002 it was 35.69 million
2012 was 67.28 million
Stock buybacks don't seem to really matter at all when they issue even more Options.
Shares Outstanding 35.69M 36.62M 36.64M 39.79M 41.40M 41.94M 46.80M 65.46M 60.62M 67.28M
Wow, highly unethical and dishonest!
Yet you don't care that one former BOD was incarcerated for armed robbery; Company illegally issued 500,000 Options instead of max. 300,000 to INSIDER and are being sued for it. You don't mind that Insiders are also being sued for a pump and dump ($22 to $14) AT THE SAME EXACT TIME THEY WERE selling over $60 million in Options and stock then drops after they were found to have lied about sales. (2007).
Stock dropped over 60% during that period shown above; so not sure how you can cherry pick one or two quarters when ALL firearm manuf. were increasing for no other reason than a few nuts and politics.
less than 600K of those shares were issued in connection with options, the remainder of the shares were issued for equity raises or business acquisition/agreements and employee share purchases (which are paid for) for retirement plans.
as usual your info is not relevant or is taken out of context. the bottom line is the increase in shares, whether you view it good or bad, is not for management options but other purposes.
btw, This stock could be a $16 stock if mgmt. would have announced a simple dividend. Shorts have no carrying cost to hold on.
RGR is more dangerous because shorts have to cover all the dividends on the shares they are short.
Bottom line is that SWHC mgmt. is not competent enough to create sustainable earnings to pay a dividend. They know that, so while announcing a $100 million buyback, they borrow money at the same time and give out even more Options.
162 yr. old company and it still doesn't give out a divvy. Hmmm!
Golden, who is still a Director.
Debeney was partly responsible for last 7 million increase into 2012 year end.
SWHC has actually reduced Outstanding shares 2012-2013, but if you do the math and divide the 3 million share reduction by $35 million they spent on buybacks you see it works out to $11.66 a share, which of course is not what they paid. So even though they are buying back shares, they are issuing Options hand over fist as their avg. cost of previous 2 buybacks had to be close to $9.00, not $11.66.
The discrepency lies in new issues to cover Insiders with more newly issued shares via the Option trough.