Sturm, Ruger Expanding Manufacturing Capacity
With demand still far outstripping supply, gun slinger Sturm, Rugerannounced yesterday it is opening its third manufacturing plant and the first major expansion for the company in more than 25 years.
The facility will be 220,000 square feet and located in Mayodan, N.C., and is expected to be finalized in August. Sturm, Ruger currently employs more than 2,000 people in its two plants in Newport, N.H., and Prescott, Ariz.
Last quarter the gunmaker reported revenues surged 39% to $155.9 million year over year, while earnings jumped 52% to $1.20 per share as it added new products to its lineup that accounted for more than a third of the increase in sales.
The article Sturm, Ruger Expanding Manufacturing Capacity originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of Sturm, Ruger & Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.