Sturm Ruger & Company (NYSE:RGR) reported its latest quarterly earnings results late in the day Wednesday, which beat analysts’ expectations but the company’s stock was unmoved after hours.
The firearm manufacturer said that for its second quarter of fiscal 2018, it brought in net sales of $128.4 million, which marked a 2.6% decline compared to the year-ago quarter’s total net sales of $131.9 million. The company added that its profit for the period came in at $15.19 million, or 86 cents per share.
Sturm Ruger & Company’s adjusted earnings for the period were stronger than they were during the year-ago quarter, when the company tallied diluted earnings of 57 cents per share. Analysts were calling for the company to bring in adjusted earnings of 83 cents per share, according to data compiled by Thomson Reuters.
The company added that its Board of Directors announced today that it was declaring a dividend of 34 cents per share for the quarter. The move applies to stockholders who are on record as of August 17, 2018, with the dividend being paid out on August 31, 2018.
Sturm Ruger & Company’s dividend is different every quarter because the figure is based on a percentage of earnings, not a fixed amount per share. The dividend adds up to about 40% of the company’s net income.
RGR stock was down about 1.8% on Wednesday during regular trading hours as the company geared up to unveil its latest quarterly earnings figures, which did not move the company’s shares after the bell despite the beat.
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