Smith & Wesson Holding Corporation Announces Stronger Than
Anticipated Second Quarter Fiscal 2013 Net Sales and Net Income
SPRINGFIELD, Mass.,
Nov. 19, 2012 /PRNewswire/
-- Smith & Wesson Holding Corporation (NASDAQ
Global Select: SWHC), a leader in firearm manufacturing and design,
today announced preliminary net sales and earnings per share
results for its fiscal 2013 second quarter period ended
October 31, 2012.
Preliminary net sales from continuing operations for the fiscal
second quarter were approximately $136
million, an increase of approximately $44 million, or 48%, compared with net sales from
continuing operations for the corresponding quarter a year ago.
Preliminary net sales surpassed the company's previous guidance
range of $130 million to $135
million. The company noted that the increase in net
sales was driven by continued strength in orders across its product
lines, including M&P™ branded products such as pistols, modern
sporting rifles, and the new Shield™. Preliminary GAAP net income
from continuing operations is expected to be between $0.23 and $0.24 per diluted share, compared with
net income of $0.01 per diluted share
from continuing operations for the corresponding quarter a year
ago. This is higher than the company's previous guidance for
GAAP net income per diluted share from continuing operations of
$0.19 to $0.21.
Based on the strength of the company's preliminary fiscal 2013
second quarter financial performance and current outlook for the
year, the company is reiterating its guidance for net sales from
continuing operations for full year fiscal 2013 of between
$530 million and $540 million, which
would represent year-over-year growth from continuing operations of
approximately 30%. The company is also reiterating its
guidance for fiscal 2013 GAAP earnings per diluted share from
continuing operations of between $0.85 and
$0.90.
The results provided in this press release are preliminary and
subject to completion and review of the company's financial
statements in conjunction with the company's Form 10-Q Report for
the quarter ended October 31,
2012.
Conference Call and Webcast
The company will host a conference call and webcast on
Thursday, December 6, 2012, to
discuss its second quarter fiscal 2013 financial and operational
results. Speakers on the conference call will include James Debney, President and CEO, and
Jeffrey D. Buchanan, Executive Vice
President and CFO. The conference call may include forward-looking
statements. The conference call and webcast will begin at
5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Those interested in
listening to the call via telephone may call directly at
866-770-7129 and reference conference code 97402682. No RSVP is
necessary. The conference call audio webcast can also be
accessed live and for replay on the company's website at
www.smith-wesson.com, under the Investor Relations section. The
company will maintain an audio replay of this conference call on
its website for a period of time after the call. No other audio
replay will be available.
About Smith & Wesson
Smith & Wesson Holding Corporation (NASDAQ Global Select: SWHC)
is a U.S.-based leader in firearm manufacturing and design,
delivering a broad portfolio of quality firearms, related products,
and training to the global military, law enforcement, and consumer
markets. The company's brands include Smith & Wesson®,
M&P™, and Thompson/Center Arms. Smith & Wesson facilities
are located in
Massachusetts and
Maine. For more information on
Smith & Wesson, call (800) 331-0852 or log on to
www.smith-wesson.com.
Safe Harbor Statement
Certain statements contained in this press release may be deemed
to be forward-looking statements under federal securities laws, and
we intend that such forward-looking statements be subject to the
safe-harbor created thereby. Such forward-looking statements
include the continued strength in orders across our product line,
including M&P™ branded products such as pistols, modern
sporting rifles, and the new Shield™; our outlook for net sales
from continuing operations, year-over-year growth from continuing
operations, and GAAP earnings per diluted share from continuing
operations for the full 2013 fiscal year; and the results of our
review of our financial statements in conjunction with our Form
10-Q Report for the quarter ended October
31, 2012, including our final net sales from continuing
operations and GAAP net income per diluted share from continuing
operations for our second quarter fiscal 2013. We caution
that these statements are qualified by important factors that could
cause actual results to differ materially from those reflected by
such forward-looking statements. Such factors include the
demand for our products; the costs and ultimate conclusion of
certain legal matters, including the DOJ and SEC matters; the state
of the U.S. economy; general economic conditions, and consumer
spending patterns; the potential for increased gun control;
speculation surrounding fears of terrorism and crime; our growth
opportunities; our anticipated growth; our ability to increase
demand for our products in various markets, including consumer, law
enforcement, and military channels, domestically and
internationally; the position of our hunting products in the
consumer discretionary marketplace and distribution channel; our
penetration rates in new and existing markets; our strategies; our
ability to introduce new products; the success of new products; our
ability to expand our markets; the potential for cancellation of
orders from our backlog; the effects of the divestiture of our
security solutions business on our core firearm business; and other
risks detailed from time to time in our reports filed with the SEC,
including our Form 10-K Report for the fiscal year ended
April 30, 2012.
Contacts: Liz Sharp, VP
Investor Relations
Smith & Wesson Holding Corp.
(413) 747-3304
lsharp@smith-wesson.com
SOURCE Smith & Wesson Holding Corporation