SPRINGFIELD, Mass. (AP) -- Smith & Wesson Holding Corp. reported fiscal first-quarter earnings and revenue that beat Wall Street expectations Thursday. But the gun maker posted a disappointing forecast for the current quarter and its stock fell in after-hours trading.
The Springfield, Mass.-based company said that its net income rose to $26.5 million, or 40 cents per share, in the three months that ended July 31. That's up from $17.8 million, or 27 cents per share, in the same period a year ago.
Revenue rose 26 percent to $171 million in the fiscal first quarter from $136 million.
Analysts, on average, expected earnings of 36 cents per share and revenue of $165 million, according to FactSet.
Smith & Wesson has seen strong sales gains this year fueled by Americans buying more guns and ammunition in anticipation of further government restrictions following a spate of mass shootings, including one at an elementary school in Newtown, Conn., in December.
For the fiscal second quarter, however, the company said that it expects adjusted earnings between 20 cents per share and 22 cents per share. It expects revenue during that quarter between $135 million and $140 million.
That's below the adjusted earnings of 29 cents per share and revenue of $143 million that analysts expected, according to FactSet.
Shares of the company fell 50 cents, or 4.4 percent, to $10.98 in after-hours trading Thursday. They closed up 39 cents, or 3.5 percent, at $11.48 during normal trading hours.
Through Thursday's close, the stock has gained 36 percent so far this year
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