UPDATE: Smith & Wesson Posts FQ2 Profit, Lifts Full-Year Forecast

Smith & Wesson Holding

swung to a FQ2 profit and lifted its full-year forecast. Smith & Wesson now expects full-year earnings from continuing operations of $1 to $1.05 per share on sales of $555 million to $560 million. The company had earlier estimated earnings of $0.85 to $0.90 per share on net sales of $530 million to $540 million. Smith & Wesson projects current-quarter earnings from continuing operations of $0.19 to $0.21 per share on sales of $126 million to $131 million. However, analysts were expecting earnings of $0.16 per share on sales of $125 million. Smith & Wesson posted a quarterly profit of $21.2 million, or $0.31 per share, versus a year-ago loss of $1.6 million, or $0.02 per share. Its earnings from continuing operations came in at $0.24 per share. Its net sales climbed 48% to $136.6 million. The company had earlier expected earnings of $0.23 to $0.24 per share on net sales of $136 million. Its gross margin rose to 35.5% from 26.7% Smith & Wesson shares gained 2.86% to $11.16 in after-hours trading.