S & W Holding posts record revenues, earnings

Shooting Industry, August, 2007

Smith & Wesson Holding Corp. in mid-June announced its financial results for the fiscal year and the fourth fiscal quarter, which ended April 30.

Net product sales for fiscal 2007 increased 48.8 percent over the previous fiscal year. Firearms sales for the fiscal year grew 50.1 percent, reflecting a 59.7 percent increase in pistol sales, the full-year financial impact of tactical rifle sales and four months of revenue from Thompson/Center Arms, which accounted for $22.5 million of revenue.

"Our results for fiscal 2007 reflect the tremendous execution of our business strategy by Mike Golden and his team," said Barry M. Monheit, S & W chairman of the board. "They have now delivered 10 consecutive quarters of year-over-year, double-digit sales growth in our core handgun business."

Golden said the 48.8 percent increase in net product sales was driven by a number of initiatives.

"It has now been a full year since the implementation of our sporting goods sales force comprised entirely of employees, rather than independent manufacturers' representatives. It has also been a full year of equipping our sporting goods sales force, as well as our law enforcement sales force, with the specially designed M & P line of polymer pistols. The results have been impressive," Golden said.

For fiscal 2008, Smith & Wesson says it is raising its sales expectations from $320 million to $330 million, which would represent a 40.5 percent increase over fiscal 2007 sales.

For a full review of Smith & Wesson's financial report, visit the "Investors" section on www.smith-wesson.com.