Net income dropped 53% to $9,370,000 from $19,850,000 in the third quarter as sales decreased 35% to $104,817,000 from $161,427,000 comping against the gun market exuberance leading up to the 2016 elections. With no fear of “gun-grabbers” invading the White House this year, the third quarter returned to its traditional seasonal weakness, with Jul. very soft, Aug. rebounding slightly and Sep. a bit better in the run-up to hunting season. Too, traditional bolt-action rifles are making a comeback, especially in newer calibers, after being overshadowed by the huge MSR sales trend in 2016. Gross margin contracted 230 basis points on ... Log in to view full article.