Skip to comments.Smith & Wesson Holding Corporation Reports Third Quarter Fiscal 2014 Financial Results
Posted on 03/04/2014 1:14:52 PM PST by Red in Blue PA
Third Quarter Fiscal 2014 Financial Highlights
Net sales for the third quarter were $145.9 million, up 7.1% from the third quarter last year. When excluding Walther products that were sold in the prior year pursuant to a distribution agreement that has since ended, net sales growth was 16.7%. Handgun sales, which include sales of the company's popular M&P® pistols, grew 29.9% versus the year ago quarter. Gross profit for the third quarter was $58.7 million, or 40.2% of net sales, compared with gross profit of $49.9 million, or 36.6% of net sales, for the comparable quarter last year. Gross profit margin improved as a result of favorable product mix, absorption, and manufacturing efficiencies, as well as reduced promotions and the absence of lower-margin Walther product sales. Operating expenses for the third quarter were $27.5 million, or 18.9% of net sales, compared with operating expenses of $21.9 million, or 16.1% of net sales, for the third quarter last year. A significant portion of the operating expense increase related to the company's ERP implementation, which commenced in the second quarter. Operating income for the third quarter was 21.3% of net sales compared with 20.6% for the third quarter last year. Income from continuing operations for the third quarter was $20.1 million, or $0.35 per diluted share, compared with $17.5 million, or $0.26 per diluted share, for the third quarter last year. Non-GAAP Adjusted EBITDAS from continuing operations for the third quarter increased to $37.5 million from $33.3 million for the third quarter last year. Operating cash generated for the third quarter was $29.6 million. Cash used in investing activities of $21.9 million included capital spending of $10.2 million and equipment deposits of $11.7 million, yielding free cash flow of $7.6 million.
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I can relate to your tag line, buddy. :-)
SWHC was a good investment; so were ATK, OLN and RGR. That ‘Personal Defense’ section of my portfolio smiles.
That graphic is true.
And a lot of Dems have made serious money betting on firearms investments.
What the story tells me is that S&W is raising prices and the price increases are sticking to their bottom line.
I purchased two S&W revolvers last year and I have my eye on a sweet .44 mag that I probably won’t be able to say no to this year. I think between their M&P rifles, their classic revolvers, their niche revolvers, and their semi-auto pistols S&W is positioned very well to maintain high sales for the foreseeable future. I would like to see them offer some customization options to their customers though. There are some high demand revolver options that they are shying away from producing for some reason, a 627 with a fluted cylinder, 3 inch barrel, and blued steel finish for example. last one I saw sold for about $1,800.
RGR went from 5 to 85 (a 17 fold increase) in a matter of 5 years (2009 to 2014) while FB went from a low of about 17 to about 71 (a 4.17 fold increase AT BEST), yet all you hear on CNBC is Facebook this and Facebook that.
Farce-Butt is one stock I passed-up, although it was offered by a friend (she’s a libertarian) who works there, at near-IPO prices. No sense in feeding that libtard owner any of my income.
Everything is a little/a lot over-valued now; wait until we get the big market correction, and then buy some.
Paper or steel?
Ruger is down 25%.
Starbucks is down 15%.
Procter & Gamble is down 10%.
The market is hitting new highs but there are alot of companies down big.
Add GNRC COP KMB WY to that list and you have yourself a winning portfolio!
You gotta be good to do that and win. I’m just lucky.
People have been grabbing guns while they can because they are afraid of loosing their right
I’ll look into them; thanks.