Smith & Wesson Q3 Profit Tops Estimate; Boosts FY14 Outlook

(RTTNews) - Firearms maker Smith & Wesson Holding Corp. (SWHC) reported net income for the third quarter of $20.8 million or $0.36 per share, compared to $14.6 million or $0.22 per share for the year-ago quarter.

Income from continuing operations for the third quarter was $20.1 million or $0.35 per share, compared to $17.5 million or $0.26 per share in the prior year quarter.

Net sales for the third quarter rose 7.1% to $145.88 million from $136.24 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.29 per share on revenue of $142.70 million for the third quarter.

Looking forward to the fourth quarter, the company forecasts net sales of $159.0 million to $164.0 million and earnings from continuing operations of $0.37 to $0.40 per share. Analysts currently expect the company to earn $0.36 per share on revenue of $164.54 million for the fourth quarter.

For its full year fiscal 2014, the company now forecasts net sales of $615.0 million to $620.0 million and earnings from continuing operations of $1.39 to $1.42 per share. Previously, the company forecast net sales of $610.0 million to $620.0 million and earnings of $1.30 to $1.35 per share

Analysts currently expect the company to earn $1.33 per share on revenue of $617.49 million for the fiscal year 2014.