Smith & Wesson Shares Slide As Earnings Beat Follows Big Run-up

Smith & Wesson Holding Corp. shares declined in the extended session Tuesday after the gun maker topped Wall Street estimates following a big run-up in the stock price. Smith & Wesson shares fell 2.6% to $20.83, following a two-day advance of 13% after President Obama called for a modest reduction in the availability of firearms. The company reported adjusted fiscal second-quarter earnings of 25 cents a share on revenue of $143.2 million. Analysts surveyed by FactSet had forecast 20 cents a share on revenue of $138.8 million. Smith & Wesson expects adjusted third-quarter earnings of 27 cents to 29 cents a share on revenue of $150 million to $155 million. Analysts expect 24 cents a share on revenue of $145.9 million.