Smith & Wesson (SWHC) Says Proposal to Replace M9 Was Not Selected by Army to Advance

September 26, 2016 6:51 AM EDT

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Smith & Wesson (NASDAQ: SWHC) Friday disclosed in an SEC filing:

We and our partner in the pursuit of the U.S. Army’s Modular Handgun System, or MHS, solicitation to replace the M9 standard Army sidearm have been notified by the Department of the Army that our proposal was not selected to advance to the next phase of the competition. The MHS program has never been included in our financial guidance. We are assessing our options in response to the notification and remain focused on achieving our long-term strategy of organically and inorganically expanding our product offerings in the consumer market for shooting, hunting, and rugged outdoor enthusiasts.

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