Smith & Wesson Swings To Q4 Profit

(RTTNews) - Firearm maker Smith & Wesson Brands Inc. (SWBI) Thursday reported fourth-quarter profit of $89.2 million or $1.70 per share, compared with net loss of $66.1 million or $1.20 per share last year.

Adjusted profit was $89.6 million or $1.71 per share, compared with $27.5 million or $0.50 per share last year.

Quarterly net sales rose 67.3% to $322.9 million from $193.0 million last year.

Analysts polled by Thomson Reuters expected earnings of $1.02 per share on revenues of $259.8 million for the quarter. Analysts' estimates typically exclude one-time items.

Gross margin for the quarter was 45.1% compared to 32.2% last year.