Net income was halved to $10,350,000 from $20,829,000 in the final quarter of 2017 as revenue declined 27% to $118,230,000 from $161,849,000, finishing out a year in which slow sell-through in an overstocked distribution chain dramatically reduced demand. Gross margin tumbled 510 basis points to 28.0% on deleveraging of fixed manufacturing costs. Black Friday sales were very strong overall, and hunting season drove stronger bolt-action sales, but with demand skewed towards non-standard calibers. Ruger started its show season order programs a month early, on Dec. 1, which pulled some 2018 orders forward into Q4.

While NSSF-adjusted NICS checks were down just ... Log in to view full article.