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Gun Sales Lift Smith & Wesson to 3Q Beat

Smith & Wesson (NASDAQ:SWHC) said Tuesday its net income for the third quarter surged 42.6%, as the gun maker benefited from heftier margins and stronger demand for firearms.The company reported a profit of $20.8 million, or 36 cents a share, compared to $14.6 million, or 22 cents a share, in the same period a year earlier. Earnings from continuing operations increased 14.6% to $20.1 million, or 35 cents a share.Revenue rose 7.1% to $145.9 million. Gross margin widened to 40.2% versus 36.6% a year earlier.Analysts expected per-share earnings of 29 cents on revenue of $142.7 million. Smith & Wesson forecasted earnings from continuing operations of 28 to 30 cents a share and between $140 million and $145 million in revenue.Gun makers like Smith & Wesson widely reported a surge in sales last year, as the threat of additional regulations drove buyers to purchase firearms. In recent months, analysts have warned that demand will likely flatten.Last month, rival Sturm, Ruger & Co. (NYSE:RGR) ...

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