The Smith & Wesson parent had a loss of $2,108,000 in its seasonally small fiscal first quarter ended July 31, against a profit of $7,645,000 last year, on 11% lower sales of $123,665,000 down from $138,833,000. Gross margin expanded 90 basis points to 38.7%. Selling, marketing, and distribution spending increased $5.2 million from startup costs for the new distribution center, and general and administrative expenses were up $2.2 million on additional depreciation and compensation also related to the new DC. AOBC maintained its full year revenue guidance of $630 to $650 million, but cut its earnings guidance to $0.41 to ... Log in to view full article.