The bottom line declined 2% to $9,206,000 from $9,370,000 in the third quarter despite 10% higher sales at $114,945,000 vs. $104,817,000, the company’s first year-over-year improvement in seven quarters. Firearms accounted for $113.8 million, while casting sales were $1.1 million and sales of new products represented 30% of the top line this quarter. Profitability was hurt by a gross margin that plunged 440 basis points to 24.4%, but about 300 b.p. of that came from a reclassification of some marketing expenses into cost of goods sold. SG&A declined $0.9 million, or 210 b.p., on a lower firearms promotional spend, and ... Log in to view full article.