Gunmaker Smith & Wesson Shares Slide On Lower Profit

Shares of Smith & Wesson Holding Corp. slid in Thursday's extended trade after the gunmaker reported weaker earnings. Smith & Wesson said its fiscal second-quarter profit fell to $5.1 million, or 9 cents a share, from $17 million, or 28 cents a share, in the same quarter a year ago. Revenue decreased to $108.4 million versus $139.3 million a year earlier. Still, the results were moderately better than earnings per share of 7 cents on revenue of $105.8 million forecast by analysts in a FactSet survey. Smith & Wesson also projected third-quarter earnings in a range of 9 cents a share to 11 cents a share, below the average estimate of 21 cents a share. The gunmaker's stock fell 0.6% after hours.