Smith & Wesson Brands, Inc (SWBI) reported a sales increase of 67% for its fiscal fourth quarter at market close on Thursday, June 17, 2021. In a statement, the company reported that revenue in the period rose 67% to $322.9 million vs. $193 million compared to the same period last year.
No doubt fueled by an ongoing surge in demand for firearms - and specifically, defensive firearms - the Non-GAAP net income rose to $1.71 / share vs. $.50 / share for the same period in 2020.
SWBI stock has increased 30.2% since the company last reported earnings on March 4, 2021.
In a statement, Smith & Wesson President & CEO said, "
“During the past fiscal year, the U.S. firearms market experienced record growth of 42%. Shipments from Smith & Wesson far surpassed the industry, growing by 70%. Strong consumer preference for our products combined with our ability to rapidly react to the increased demand has placed us in a clear leadership position as we enter into our first full fiscal year as a standalone pure-play firearms company."
More information can be found HERE.
Official press release can be found HERE.