Smith & Wesson reports 2Q loss

[Gunreference1]

Smith & Wesson reports 2Q loss

Dec 8, 2010 4:34 PM MT By The Associated Press

SPRINGFIELD, Mass. (AP) — Gun maker Smith & Wesson Holding Corp. reported a fiscal second-quarter loss Wednesday as it sold fewer guns and recorded a charge for the falling value of a company it bought last year.

Its shares fell more than 7 percent in after-hours trading.

For the quarter that ended Oct. 31, Smith & Wesson reported a loss of $37.3 million, or 62 cents per share. That compares with a profit of $14.4 million, or 22 cents per share, a year earlier.

To read the rest of the story click the link below.

http://www.bloomberg.com/news/2010-12-08/smith-wesson-reports-2q-loss.html

Steve

[Richard Simmons]

S&W was awarded a open contract for $40 million over 10 years to supply ATF and other agencies with .40 S&W M&P pistols back in September. Wonder if/when that will impact their balance sheet?

[RJ Shooter]

$4 Million a year isn't a huge amount for a large corporation like S&W... :-/

[O.S.O.K.]

Unbelievable that a firearms company of this stature could be having troubles in the current paranoid environment. I keep seeing NICS numbers well over last year's levels which means that firearms are being purchases.

So, S&W just isn't getting the business - or a large number of the transactions are for used?

Perhaps they should take a clue from Ruger and put out some high quality, economical products. For the money, I'll take a Ruger revolver over a S&W any day. S&W asks too much for their revolvers IMHO.

I like my Smiths but the price differencial has increased in recent years = they got greedy.