Last Update: 07-Dec-12 08:13 ET
Smith & Wesson shares shoot higher by 2% earnings that were in line with pre-announcements
Smith & Wesson (SWHC $11.06 +0.21) reported second quarter earnings of $0.24 per share, in-line with the Capital IQ consensus of $0.24. Co raised third quarter EPS guidance to $0.23-0.24 from $0.19-0.21 on Nov 19, while revenues rose 48.0% year/year to $136.6 million in-line with the upside preannouncement (from $130-135 million on Nov 19) versus the $136.1 mln consensus. The increase was led by continued strong sales across all of the co's firearm product lines, including M&P branded products, such as pistols, modern sporting rifles, and the recently launched Shield pistol designed for concealed carry and personal protection. The company issued upside guidance for the third quarter with EPS of $0.19-0.21 versus the $0.16 consensus and revenues of of $126-131 mln vs. $125.16 mln Capital IQ Consensus Estimate. The company issued upside guidance for fiscal year 2013 with EPS to $1.00-1.05 from $0.85-0.90 versus the $0.91 consensus and raised fiscal year 2013 revenues $550-560 million from $530-540 million versus $537.94 million consensus. e company also today announced that its Board of Directors has approved a program to repurchase up to $20.0 million of the company's outstanding shares of common stock from time to time until June 30, 2013.
Smith & Wesson (SWHC $11.06 +0.21) reported second quarter earnings of $0.24 per share, in-line with the Capital IQ consensus of $0.24. Co raised