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Article Date: March 2024
Word Count: 282

Smith & Wesson Profits Fall despite Higher Top Line


Net income contracted by 29% in fiscal Q3 ended Jan. 31 to $7,882,000 from $11,079,000, while revenues increased 7% to $137,484,000 from $129,036,000 driven by soaring long gun sales. Rifle sales more than doubled to $32.2 million, benefitting from strong demand for the M&P FPC folding pistol caliber carbine. Handgun sales were 7% lower at $94.5 million, attributed to older models that aren’t selling as well. Lower component parts sales and licensing revenue more than offset growing handcuff sales to pull down other products and services by 8% to $10.8 million.

 

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