Smith & Wesson Down 2% After Q3 Results
Gun manufacturer Smith & Wesson (NASDAQ: SWHC) released its fiscal third-quarter earnings results on Tuesday after the closing bell. The company reported net income of $14.6 million or $0.22 per share, compared to $4.4 million or $0.07 per share, in last year's corresponding quarter.
Income from continuing operations was $17.5 million or $0.26 per share, compared to $5.4 million or $0.08 per share, in the year ago period.
Net sales in the third-quarter were up 39 percent to $136.24 million from $98.13 million last year.
Looking ahead to Q4, Smith & Wesson forecast net sales of $165 million to $170 million and earnings from continuing operations of $0.38 to $0.40 per share. This compares to current analysts' consensus of sales of $155.06 million on EPS of $0.30.
For the full-year, the company also raised its guidance. Smith & Wesson now sees net sales of $575 million to $580 million on EPS of $1.17 to $1.19. This compares to the company's previous guidance of $550 million to $560 million in sales and EPS of $1.00 to $1.05. Currently, Wall Street analysts have consensus EPS estimates of $1.06 on sales of $561.34 million for the fiscal year.
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