Better-than-expected Quarterly Earnings Drives Smith & Wesson Shares Up

(RTTNews) - Shares of firearm maker Smith & Wesson Brands, Inc. (SWBI) are rising more than 12% Friday morning after reporting better-than-expected first-quarter results.

The company reported net income of $3.12 million, or $0.07 per share, lower than $3.31 million, or $0.07 per share, in the same quarter a year ago.

Excluding special items, earnings were $6.1 million or $0.13 per share, that beat the consensus estimate of analysts polled by Thomson-Reuters of $0.05 per share.

Net sales were $114.24 million, an increase of 35.4%, over the comparable quarter last year.

SWBI is at $11.80 currently. It has traded in the range of $8.21 - $13.69 in the last 52 weeks.