Smith & Wesson (SWHC) Revenue Disappoints, Shares Fall 8%
By Daniel James Hayden IV
March 11, 2010 5:33 PM
March 11, 2010 5:33 PM
Symbols: SWHC
Firearms manufacturer Smith & Wesson Holding Corp. (SWHC) reported a fiscal 3rd quarter profit of $2.4 million, or 4 cents per share.
Excluding one time items, Smith & Wesson Holding Corp. would have earned 2 cents per share.
Revenue climbed to $89.4 million, up from $83.7 million a year earlier.
According to FactSet Research, the average analyst estimate was a profit of 1 cent per share on revenue of $92.6 million.
Smith & Wesson Holding Corp. said it expects fiscal 4th quarter sales of $97 million to $101 million, while the average analyst estimate was for 4th quarter sales of $103.7 million.
The disappointing revenue news and guidance led to Smith & Wesson shares falling more than 8% in after hours trading.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
We're Loving
