Smith & Wesson Down After-Hours On Weak Guidance
Smith & Wesson Holding Corp. (NASDAQ: SWHC) fell more than 10 percent after hours after gun-maker told investors it expects results in the coming quarter and fiscal year well below the Wall Street consensus.
The company forecast fiscal first-quarter earnings of between $0.23 and $0.25 a share, or roughly 40 percent below analysts' expectations of 40 cents a share.
The company offered no reasons for the gap between its outlook and Wall Street's expectations.
First-quarter sales are expected at between $130 and $135 million versus Street views of $160.61 million.
For all of fiscal 2015, Smith & Wesson told investors to look for earnings of $1.30 to $1.40 a share, compared with expectations of $1.45.
The company expects 2015 sales of $585 to $600 million, versus a Street view called for $621.85.
The company beat earnings expectations by a penny for the recently ended fiscal fourth quarter, posting earnings of $0.44 a share, up nearly 16 percent from year-ago earnings of $0.38.
Revenue fell to $170.4 million, from $178.7 million a year earlier. Wall Street expected revenue of $163.6 million.
Smith & Wesson changed hands recently at $15.10, down 11.18 percent.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.