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Smith and Wesson Tripled Earnings Last Quarter

by Elizabeth Sheld 5 Mar 2013 post a comment

On Tuesday, Smith and Wesson reported they tripled their earnings last quarter and raised it's outlook for the rest of the year . The company reported $17.5M in the quarter ending January 31, which is up $5.4M from the same quarter last year.

The results were driven by "continued robust consumer demand for firearms," said Smith & Wesson CEO James Debney, who singled out sales of the company's Military & Police pistols and "modern sporting rifles."

Smith & Wesson said it expanded production in the quarter and has been at maximum capacity for a year. "Despite these capacity increases, the company was unable to meet the ongoing demand across all of its firearm product lines," the company said in a press release.

Obama seems to be doing right by at least one industry.