Smith & Wesson Shares Fall After Fiscal Q2 Earnings

Shares of Smith & Wesson Holding Corp. fell more than 6% late Thursday after the gun maker reported fiscal second-quarter earnings and sales above Wall Street expectations. Smith & Wesson said it earned $32.5 million, or 57 cents a share, in the quarter, compared with $14.2 million, or 22 cents a share, in the year-ago quarter. Adjusted for one-time items, the gun maker reported a net income of $39.1 million, or 68 cents a share, compared with $14.2 million, or 25 cents a share, a year ago. Net sales reached $233.5 million, from $143.2 million a year ago, Smith & Wesson said. Analysts polled by FactSet had expected adjusted earnings of 57 cents a share on sales of $228 million. The company tweaked higher its sales expectations to a range of $230 million and $240 million for the three months to end Jan. 31; in September, the company had predicted sales in a range of $220 million to $230 million for the quarter. The shares ended the regular trading day up 2.8%.