Smith & wesson profits from weapons boom

Smith & wesson profits from weapons boom

From november to january, smith& wesson sales of 136 million dollars (104 million euros) – an increase of 39 percent over the same period last year. Profits even tripled to almost 15 million dollars on balance. James debney, the company’s CEO, also expressed confidence in the future and raised his forecast for the fiscal year. Demand cuts "right across all product groups".

Founded in 1852, the company is best known for its revolvers, but also makes the famous semi-automatic rifles that are currently the subject of heated debate in the united states. President barack obama to enact tougher laws after december elementary school massacre in newtown. Many gun nuts now stock up on pistols and rifles because they fear restrictions.

"The order book doubled in the quarter," company boss debney said in a conference call with analysts. Rival sturm ruger had already reported last week that sales had risen sharply and that retailers’ shelves had been swept bare. Both companies are listed on the stock exchange and are therefore required to publish their financial results.

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