Net income inched up 2% in the final quarter to $10,477,000 from $10,249,000 on a 12% increase in revenues to $145,775,000 from $130,617,000, the second consecutive quarter of growing sales. The top line handily outperformed the 5.9% decrease in NSSF-adjusted NICS checks in the quarter, a metric that broadly tracks retail firearms sales. Gross margin tumbled 190 basis points to 22.8%, while operating expenses were reduced by 1%, and leveraged 190 b.p. on the growing revenues.

For the full year, RGR’s profits declined by 37% to $30,563,000 from $48,215,000 hurt by plunging ... Log in to view full article.