Smith & Wesson Q1 Results Top Estimates; Boosts FY16 Outlook

(RTTNews) - Firearm manufacturer Smith & Wesson Holding Corp. (SWHC) reported net income for the first quarter of $14.4 million or $0.26 per share, compared to $14.6 million or $0.26 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $17.7 million or $0.32 per share, compared to $14.9 million or $0.27 per share in the prior year quarter.

Net sales for the first quarter rose 12% to $147.76 million from $131.87 million a year ago.

Analysts poled by Thomson Reuters expected the company to earn $0.22 per share on revenue of $142.76 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts net sales of $135 million to $140 million, earnings of $0.16 to $0.18 per share and adjusted earnings of $0.19 to $0.21 per share. Analysts currently expect the company to earn $0.15 per share on revenue of $129.58 million for the second quarter.

For the fiscal year 2016, the company now forecasts net sales of $610 million to $620 million, earnings of $0.99 to $1.04 per share and adjusted earnings of $1.14 to $1.19 per share. Previously, the company forecast net sales of $605 million to $615 million, earnings of $0.85 to $0.90 per share and adjusted earnings of $1.02 to $1.07 per share.

Analysts currently expect the company to earn $1.04 per share on revenue of $611.41 million for the fiscal year 2016.