Firearms Industry Numbers Reflect Record Pace of Gun Sales for First Quarter
NEWTOWN, Conn –-(Ammoland.com)- Following the eleventh straight month-over-month increase in consumer firearms purchases, firearms and ammunition manufactures are reporting strong sales even with the down economy.
RUGER SALES UP 10.5 PERCENT IN FIRST QUARTER
Sturm, Ruger & Co. (NYSE:RGR) reported that first quarter sales increased 10.5 percent compared to the same period last year.
Said Ruger CEO Michael Fifer, “The estimated sell-through of the company’s products from distributors to retailers in the first quarter of 2011 increased by approximately 12 percent from the first quarter of 2010 and 21 percent from the fourth quarter of 2010.”
Company sales and earnings beat Wall Street estimates for the quarter.
CABELA’S SEES GROWTH IN FIREARM SALES, REPORTS 1Q RESULTS
Outdoor retailer Cabela’s (NYSE:CAB) reported that first quarter comparable-store sales jumped 8.9 percent compared the same period last year.
“We realized gains in 12 of 13 product categories during the quarter, with the strongest growth coming from firearms, women’s and children’s, and hunting apparel,” CEO Tommy Millner said during the company’s earnings call.
OLIN REPORTS FIRST QUARTER WINCHESTER RESULTS
Olin Corp. (NYSE:OLN), makers of Winchester ammunition, reported that first quarter Winchester division sales were $136.6 million, up from $131.4 million in the first quarter of 2010.
The company reported that segment income declined 35 percent in the quarter, reflecting the impact of higher commodity metals and other material costs, higher manufacturing costs and costs associated with the relocation of its centerfire operations to Mississippi.
The National Shooting Sports Foundation is the trade association for the firearms industry. Its mission is to promote, protect and preserve hunting and the shooting sports. Formed in 1961, NSSF has a membership of more than 6,000 manufacturers, distributors, firearms retailers, shooting ranges, sportsmen’s organizations and publishers. For more information, log on to www.nssf.org.