Net income in the fiscal third quarter ended Jan. 31 increased more than ten-fold to $62,390,000 from $5,731,000 as sales increased 102% to $257,634,000 from $127,416,000 in SWBI’s first full quarter since the American Outdoor Brands spinoff. Last year’s numbers include the outdoor products and accessories business, which is now accounted for as discontinued operations. A perfect storm of catalysts combined to send demand skyrocketing in 2020, starting with the Covid-19 outbreak, and fueled by demonstrations over the summer, rhetoric leading up to the elections in Nov. and most recently threats of increased firearm regulation.

Handgun sales increased 94% to $183.1 ... Log in to view full article.