Smith & Wesson (SWHC) Tops Q1 EPS by 9c; Guides Well Above the Street
Smith & Wesson (NASDAQ: SWHC) reported Q1 EPS of $0.62, $0.09 better than the analyst estimate of $0.53. Revenue for the quarter came in at $207 million versus the consensus estimate of $198.16 million.
Smith & Wesson sees Q2 2017 EPS of $0.53-$0.57, versus the consensus of $0.35. Smith & Wesson sees Q2 2017 revenue of $220-230 million, versus the consensus of $165.4 million.
Smith & Wesson sees FY2017 EPS of $2.38-$2.48, versus the consensus of $1.92. Smith & Wesson sees FY2017 revenue of $900-920 million, versus the consensus of $776.65 million.
James Debney, Smith & Wesson Holding Corporation President and Chief Executive Officer, said, "We are very pleased with our first quarter results, which exceeded our financial guidance. We believe that higher revenue was driven by strong consumer demand as reflected in adjusted background checks from the National Instant Criminal Background Check System (NICS) as well as our own market share gains. During the quarter, we announced the acquisition of Taylor Brands and Crimson Trace, two accretive acquisitions, making strong in-roads on our strategy to become a leader in the market for shooting, hunting, and rugged outdoor enthusiasts. These acquisitions, which further expand our presence in the markets for outdoor products and accessories, were completed early in the second quarter. Based upon that timing, as well as our performance for the first quarter and our revised outlook for the remainder of fiscal 2017, we are raising our full year revenue and net income guidance."
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