Smith & Wesson (SWHC) Reports In-Line Q4 EPS; Issues Strong Q1, FY14 Outlook

June 25, 2013 4:06 PM
(Updated - June 25, 2013 4:26 PM EDT)

Smith & Wesson Holding Corp. (Nasdaq: SWHC) reported Q4 EPS of $0.44, in-line with the analyst estimate of $0.44. Revenue for the quarter came in at $178.7 million versus the consensus estimate of $170.72 million.

Gross margins was 38.3 percent, versus 36.1 percent in the same period last year. Non-GAAP Adjusted EBITDAS from continuing operations for the fourth quarter increased to $52.7 million compared with $31.2 million for the fourth quarter last year.

Smith & Wesson said demand was robust enough that "it was unable to meet the ongoing demand across most of its firearm product lines, resulting in additional growth in the company's order backlog."

"We are pleased with our results, which include record fourth quarter and annual net sales and profits and a substantial expansion of our gross margins," commented CEO James Debney. "Our successful performance was driven by solid marketing, innovative new products, disciplined manufacturing execution, and strict financial management. Significant increases in our manufacturing capacity, combined with continued robust consumer demand for firearms, resulted in higher sales of our most popular M&P products."

Sees Q114 EPS of $0.34 to $0.37, versus the consensus of $0.30. Also sees Q114 revenue of $162 million to $167 million, versus the consensus of $141.2 million.

Also sees FY14 EPS of $1.30 to $1.35, versus the consensus of $1.13. Sees FY14 revenue of $605 million to $615 million, versus the consensus of $590.4 million. When Walther is excluded from the full year 2013 results, estimated net sales for 2014 would represent year-over-year growth of 12 percent at the mid-point, the company noted.

For earnings history and earnings-related data on Smith & Wesson Holding Corp. (SWHC) click here.

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