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01/20/15 08:29:09 EDT

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wsj.com News Headlines
Smith & Wesson Boosts Outlook as Gun-Demand Trends Improve
Jan. 20, 2015 8:29 a.m. ET
By Michael Calia

smith-wesson-boosts-outlook-as-gun-demand-trends-improve.jpg
A convention goer looks at a Smith & Wesson handgun at the 143rd NRA Annual Meetings and Exhibitsl last April. Photo: Agence France-Presse/Getty Images

Smith & Wesson Holding Corp. raised its guidance Tuesday, citing positive trends in the market for firearms.
Shares of the company jumped 11% in recent premarket trading.
The gun maker raised the lower end of its earnings guidance for the most recent quarter by a penny,
and it now expects to post 10 cents to 11 cents a share. The company also boosted its expectations for revenue
to $124 million to $126 million, up from its previous outlook of $113 million to $118 million.
For the year, which ends in April, Smith & Wesson said it now projects earnings of 68 cents to 72 cents a share,
up from 66 cents to 70 cents. It also said it expects to report revenue of between $526 million to $530 million,
compared with its previous range of $504 million to $508 million.
The company had previously cut its guidance for the year in December as demand for firearms weakened from previous
high levels. Its quarterly guidance also came in below analysts’ expectations at the time.
Smith & Wesson, like other gun makers, had enjoyed several years’ worth of strong demand amid concerns that there
would eventually be more restrictive regulations in the wake of several high-profile gun massacres, such as the one
at Connecticut’s Sandy Hook Elementary School in 2012.
However, Smith & Wesson said in December that the consumer market for guns was returning to a “more normalized environment”
as sales of handguns and sporting rifles fell in the previous quarter.
For full 2015 fiscal year, the company expects net sales of between $526.0 million and $530.0 million and GAAP earnings
per diluted share from continuing operations of between $0.68 and $0.72. Those GAAP earnings include expected
one-time BTI acquisition costs of $0.03 per diluted share related to amortization of backlog and $0.03 per
diluted share related to deal costs. Without those one-time acquisition costs, full-year earnings per diluted
share for the company from continuing operations would be expected to be between $0.74 and $0.78.

This article, smith-wesson-boosts-outlook-as-gun-demand-trends-improve, originally appeared on wsj.com.





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