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Smith & Wesson ends year 25% up, but forecasts less for 2018

Smith & Wesson ends year 25% up, but forecasts less for 2018

Smith & Wesson owner American Outdoor Brands Corporation reported a more than three percent increase in sales last quarter, closing out the fiscal year yielding $903.2 million in sales, according to the company’s filings with the Securities and Exchange Commission.

The Massachusetts’ company chief executive officer James Debney described the “record level revenue” as a reflection of its long-term plan expanding the company to include other areas that supplement gun sales.

While the company’s new areas of production accounted for $130.2 million in sales, or 14.4 percent, gun sales made up the lion’s share of annual sales with $773 million. Profits jumped 36.1 percent to $127.9 million.

Gun sales breaks down into $556.6 million for handguns, $179.6 million for long guns, and another $36.8 million for other products and services. Consumer gun sales made up 91.2 percent of the total and law enforcement sales made up the other 8.8 percent.

Continued: http://www.guns.com/2017/07/04/smith-wesson/?utm_campaign=trueAnthem%3A+Trending+Content&utm_content=595b4e8804d30158443a9bcb&utm_medium=trueAnthem&utm_source=facebook