Sturm, Ruger Results Soar, despite Falling NICS Checks
Net income more than doubled to $44,384,000 in the second quarter, from $18,594,000 last year on revenues that were up 54% to $200,072,000 from $130,264,000 driven by continued strong demand for firearms. The gains came despite NSSF-adjusted NICS FBI background checks declining 5% for the quarter after the prior year period’s 65% spike, as unit sell-through from distributors to retailers increased 13% for H1, lapping a 47% increase. The bottom line benefited from favorable fixed cost leverage on higher sales and lower promo activity. RGR attributed the favorable swing to strong demand, seven quarters of production ramp up and positive ... Log in to view full article.