The former CZ Group benefitted in the first quarter from the addition of Colt, nearly doubling net income to CZK 544,730,000 ($24.8 mm) from CZK 275,642,000, on 75% higher revenues of CZK 3,553,557,000 ($161.8 mm) up from CZK 2,033,760,000. Firearms units sold increased 46% to 200,242, including 38% growth in handguns to 118,173 and a 59% jump in long guns to 82,069. Raw materials costs more than doubled, increasing to 53% of revenue from 40% last year, and services and personnel expenses were also higher on the Colt integration.

All regions posted sales growth, led by North America, which saw U.S. ... Log in to view full article.