Sturm, Ruger & Co. Reports Q1 Earnings; Shares Rebound
On Monday afternoon, Sturm, Ruger & Co. (NYSE: RGR) reported its first quarter earnings.
Shares of the company were up $2.13 per share or 3.23 percent in after hours trading after they were originally down $1.84 or 2.71 percent in the regular trading session.
The company reported fully diluted earnings of $1.22 per share and declared a dividend of $0.49 per share.
Chief Executive Officer Michael O. Fifer, commented, “Our earnings increased 2% from the first quarter of 2013 on a 9% increase in sales. The main driver of the reduced operating margins was a product mix shift away from unusually strong sales of higher-margin firearms accessories that we enjoyed one year ago. Additionally, increased depreciation expense affected operating margins. At the same time, our EBITDA of $47.3 million increased 13% from the first quarter 2013 EBITDA of $41.9 million.”
Additionally, the company also declared a $0.49 per share dividend for the first quarter.
Investors in the company should also watch shares of SWHC amid its quarterly results as well.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.