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Smith & Wesson Beats the Street

They earned three cents more per share than analyists were expecting.

“While our hunting business continues to suffer in the current economic environment, the market for hunting rifles in a healthy economy is a sizeable one,” said Michael F. Golden, president and chief executive. “In addition, this portion of our business produces barrels for our tactical rifles, products that are clearly in very high demand right now.”

I think Mike Golden owes the White House a fruit basket for being such an effective gun salesman.

5 Responses to “Smith & Wesson Beats the Street”

  1. HTRN says:

    What’s interesting is what the stock price has been doing over the last 2 years. Down from a 52 week high(7.77 – 4/29/08) to a 52 week low(1.53 – 10/28/08) in almost exactly 4 months. Only since the end of Feb. has the stock started to rally to anything like it’s 2007peak of 21.38 in Oct 2007. Ruger’s stock price in the same timeframe shows an almost identical curve – peaking in late 2007, then falling into the toilet, only to start recovering in the last month or so.

  2. Hal says:

    I have also heard that the stock value of the Olin Corporation, which is the parent company of the ammunition maker Winchester, is up quite a bit now.

    I’d be very surprised to hear that any gun-related company or business is suffering financially right now, actually.

    Of course, this could all change really fast if any new anti-gun laws or executive orders get signed by president birth cert.

    Here’s a story to illustrate my point:

    There once was a small company that made a semi-auto pistol in .22 WMR that came with a double-stack and 30-round magazine, one that fit right into the grip without extending beyond it. That pistol was the Grendel P30, and it was only on the market for just a few short years before Clinton’s AWB came along in 1994. This travesty of a law effectively put the Grendel P30 and the company which was making it into the ash heap of history.

    And some people still like to insist that the Clinton years were just so darn great for all manner of businesses.

  3. Matt from Kel-Tec R&D says:

    The P-30 shall rise again.

  4. B Smith says:

    A fruit basket would nicely complement all the nuts up there :-D

  5. Navy Vet from Jersey says:

    And some people still like to insist that the Clinton years were just so darn great for all manner of businesses.

    It was sometime about ten years ago and during Bill Clinton’s second term when Woolworth’s, the original 5-and-dime department store chain, withered away completely after 100-plus years of being in business.

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