– Total Sales in Q4 Increase 7.7% Year-Over-Year to $112 Million
– Record Firearm Sales in Q4 Rise 12.7% Year-Over-Year to $102 Million
– Firearm Backlog Grows to $187 Million in Q4, a 153% Sequential IncreaseSPRINGFIELD, Mass., June 30, 2011 /PRNewswire via COMTEX/ —
Smith & Wesson Holding Corporation (NASDAQ Global Select: SWHC), a leader in the business of safety, security, protection, and sport, today announced financial results for the fourth quarter and fiscal year ended April 30, 2011.
Michael F. Golden, Smith & Wesson Holding Corporation President and Chief Executive Officer, said, “We completed fiscal 2011 with strong manufacturing performance in our core firearm business, highlighted by record quarterly sales, record units shipped, and a 153% sequential quarterly increase in our backlog. These achievements for the quarter were driven by significant growth in demand across nearly all firearm product lines, with particular strength exhibited by our recently launched products and our repositioned products, including the BODYGUARD® line as well as the polymer framed pistol and modern sporting rifle lines. With our firearm business running at record production levels at year-end and the consolidation of our Thomson/Center Arms operations underway, we intend to remain focused on adding highly flexible manufacturing capacity and implementing lean initiatives. These actions are directly aimed at increasing shippable product to meet demand as well as improving margins in fiscal 2012.
“While the recent strategic rebranding of our security solutions division under the globally recognized Smith & Wesson brand has been well received, the environment in which this business operates remains challenging. Lower levels of government and corporate capital funding, as well as the presence of price-focused competition, remain near-term factors. Accordingly, our efforts have centered on reducing costs as well as developing and deploying new products to address broader customer requirements. We believe we are taking the necessary actions to get this business aligned with current market conditions, and we remain committed to this business as a platform for expansion beyond firearms into the security market,” concluded Mr. Golden.
BREAKING -> Kansas Initiative For November, To Reaffirm ‘The Peoples’ Right to Bear Arms – Counters – Kansas House Resolution Initiative #5017 For November Removing ‘The People’ – 5017 Designed To Outlaw George Washington’s State Militias, Thus Violating The Bill Of Rights.