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Current Events => Economics => Topic started by: thundley4 on June 23, 2009, 07:07:00 PM

Title: Smith & Wesson profit doubles, beats Street view
Post by: thundley4 on June 23, 2009, 07:07:00 PM

Quote

(Reuters) - U.S. firearms maker Smith & Wesson Holding Corp's (SWHC.O) quarterly profit more than doubled and topped estimates, as demand for its handguns and tactical rifles remained strong.

For the fourth quarter ended April 30, the Springfield, Massachusetts-based company posted a net profit of $7.4 million, or 14 cents a share, compared with $3.3 million, or 8 cents a share, last year.

Smith & Wesson, which rivals with Ruger and Taurus for revolvers and Glock, Ruger and Springfield Armory for pistols, said its firearms backlog increased to $268 million by the end of April.

Link (http://www.reuters.com/article/businessNews/idUSTRE55L61H20090622)

It's nice to see that at least one company is doing well under the 0Bamaconomy.

Title: Re: Smith & Wesson profit doubles, beats Street view
Post by: rich_t on June 24, 2009, 02:23:50 PM

(http://motorcitytimes.com/mct/wp-content/uploads/2009/04/salesman-of-the-year.jpg)

Title: Re: Smith & Wesson profit doubles, beats Street view
Post by: Chris on June 24, 2009, 02:25:49 PM

:lmao: I don't think we're going to see that hanging in the Oval Office any time soon.

Title: Re: Smith & Wesson profit doubles, beats Street view
Post by: DumbAss Tanker on June 25, 2009, 02:52:55 PM

S&W management pissed in their own cornflakes during the Clinton years, it has taken a long time for the RKBA guys to forgive them.  It looks like Barry has accomplished at least one positive thing, however unintentionally.

Title: Re: Smith & Wesson profit doubles, beats Street view
Post by: GOBUCKS on June 25, 2009, 07:58:41 PM

There may be different people in charge now, but it still makes me angry to see the S&W logo, and as much as I like some of their weapons, I'd never buy one. When they got in bed with the Clintons on gun control, the Smith and Wesson name died forever for me. Much the same as when Bill Ruger agreed with democrats on outlawing high capacity magazines in the "assault weapons ban". (But I still gotta have Rugers.) As far as S&W is concerned, at least one RKBA guy will never forgive them.

It was also easy to develop a distaste for S&W clear back into the 70s, when they artificially starved the civilian market to drive up prices. I dearly wanted a S&W Model 41 at that time, but they were extremely difficult to find, and sold for at least double list price. I instead bought a High Standard Military Trophy, and as far as I'm concerned it turned out to be a better piece than the Smith anyway.