Smith & Wesson Q3 Results Top Estimates; Boosts FY15 Outlook

(RTTNews) - Firearms maker Smith & Wesson Holding Corp. (SWHC) reported net income for the third quarter of $8.1 million or $0.15 per share, compared to $20.8 million or $0.36 per share for the year-ago quarter.

Income from continuing operations for the third quarter was $8.2 million or $0.15 per share, compared to $20.1 million or $0.35 per share in the third quarter last year.

Excluding items, adjusted income from continuing operations for the third quarter was $0.20 per share, compared to $0.35 per share in the prior year quarter.

Total net sales for the third quarter fell 10.5% to $130.6 million from $145.9 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.11 per share on revenue of $123.32 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts net sales of $162 million to $166 million, and earnings per share from continuing operations of $0.24 to $0.26 and adjusted earnings per share from continuing operations of $0.29 to $0.31. Analysts currently expect the company to earn $0.25 per share on revenue of $159.43 million for the fourth quarter.

For the fiscal year 2015, the company now forecasts net sales of $532 million to $536 million, earnings per share from continuing operations of $0.75 to $0.77 and adjusted earnings per share from continuing operations of $0.87 to $0.89. Previously, the company forecast net sales of $526.0 million to $530.0 million, earnings per share from continuing operations of $0.68 to $0.72 and adjusted earnings per share from continuing operations of $0.74 to $0.78.

Analysts currently expect the company to earn $0.70 per share on revenue of $526.89 million for the fiscal year 2015.