EmailSmith & Wesson (SWHC $11.00 +2.00) reported first quarter earnings of $0.28 per share, $0.10 better than the consensus of $0.18, while revenues rose 48.3% year/year to $136 million versus the $129.43 mln consensus. The company issued upside guidance for the second quarter with EPS of $0.19-0.21 versus the $0.13 consensus and revenues of $130-135 million versus the $119.98 million consensus. The company raised guidance for fiscal year 2013 with EPS of $0.85-0.90 from prior guidance of $0.60-0.65 versus the $0.61 consensus and raised fiscal year 2013 revenues $530-540 million from prior guidance of $485-505 million versus the $499.05 million consensus.
"Our strong fiscal first quarter financial performance reflects successful execution of our strategic plan. Based on our stronger than anticipated first quarter, current consumer orders for our products, and our ability to pull forward certain capacity expansions, we are increasing our full year fiscal 2013 financial guidance. Also of note, in keeping with our focus on our core firearm business, during the quarter we successfully sold the assets of our discontinued operations for just under $10.0 million, including proceeds from a two-year licensing agreement."
