Smith & Wesson Q4 Results Top Estimates; Outlook Weak

(RTTNews) - Firearm maker Smith & Wesson Holding Corp. (SWHC) reported net income for the fourth quarter of $21.9 million or $0.40 per share, compared to $25.1 million or $0.44 per share for the year-ago quarter.

Income from continuing operations for the fourth quarter was $21.9 million or $0.40 per share, compared to $24.9 million or $0.44 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations for the fourth quarter was $24.9 million or $0.45 per share, compared to $26.5 million or $0.47 per share in the fourth quarter last year.

Net sales for the fourth quarter rose 6.2% to $181.00 million from $170.43 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.35 per share on revenue of $175.49 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecasts net sales of $140 million to $145 million, earnings of $0.13 to $0.15 per share and adjusted earnings of $0.21 to $0.23 per share. Analysts currently expect the company to earn $0.25 per share on revenue of $145.35 million for the first quarter.

For the fiscal year 2016, the company forecasts net sales of $605 million to $615 million, earnings of $0.85 to $0.90 per share and adjusted earnings of $1.02 to $1.07 per share. Analysts currently expect the company to earn $1.07 per share on revenue of $601.77 million for the fiscal year 2016.