Net income was halved to $14,350,000 in Q1 from $30,232,000 last year, on 10% lower sales of $149,453,000 down from $166,575,000 now that consumer demand is cooling and distribution channels are well-stocked. NSSF-adjusted NICS checks, which correspond to firearms retail sales, declined 8% from the fourth quarter. The company has managed down its overall production levels 27% year-over-year to align with current demand, which resulted in a slight decline of finished goods inventory and inventory at distributors. RGR’s own inventory was 3% lower at 108,900 units while distributor inventories were down ... Log in to view full article.