Smith & Wesson Raises Outlook After Beating Estimates

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PistolSmith & Wesson Holding Corp. (NASDAQ: SWHC) reported second-quarter fiscal 2013 earnings after markets closed today. For the quarter, the gun maker posted diluted earnings per share (EPS) of $0.31 on revenues of $136.6 million. In the same period a year ago, the company reported an EPS loss of $0.02 on revenues of $92.3 million. Second-quarter results compare to the Thomson Reuters consensus estimate for EPS of $0.24 on $134.7 million in revenues.

The company reported that EPS from continuing operations totaled $0.24.

The company's CEO said:

During the second quarter, consumers continued to demonstrate their desire for our products, driving strong demand for our M&P modern sporting rifles and polymer pistols, including our M&P Shield pistol designed for concealed carry and personal protection. Increases in internal production capacity combined with improvements in our supply chain integration allowed us to offset the impact of the annual two-week shutdown as well as exceed our revenue and earnings guidance.

For the second fiscal quarter, S&W guided revenue from continuing operations at $126 to $131 million and a GAAP EPS of $0.19 to $0.21. The consensus estimate called for revenue of $125.2 million and EPS of $0.16.

For the 2013 fiscal year that ends in April, S&W expects sales from continuing operations to total $550 to $560 million. Full-year GAAP EPS is forecast at $1.00 to $1.05. The consensus estimates call for EPS of $0.91 on sales of $537.94 million.

S&W shares have been nudging a new annual high for a while now, and these results should push them over the top. Gun sales have jumped since the November elections, and it looks like the jump will continue through the holidays.

S&W's shares are up nearly 3% in after-hours trading today, at $11.14 in a 52-week range of $3.05 to $11.24. The consensus target price for the shares was around $12.50 before today's report.

Paul Ausick

Filed under: 24/7 Wall St. Wire, Aerospace & Defense, Earnings Tagged: featured, SWHC
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