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Smith & Wesson tops 3Q net income and revenue expectations

SPRINGFIELD, Mass. (AP) _ Smith & Wesson Holding Corp. (SWHC) on Thursday reported fiscal third-quarter net income of $31.4 million.

On a per-share basis, the Springfield, Massachusetts-based company said it had net income of 56 cents. Earnings, adjusted for one-time gains and costs, came to 59 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The firearm maker posted revenue of $210.8 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $182.3 million.

For the current quarter ending in April, Smith & Wesson expects its per-share earnings to range from 51 cents to 53 cents.

The company said it expects revenue in the range of $210 million to $215 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $196.1 million.

Smith & Wesson expects full-year earnings in the range of $1.68 to $1.70 per share, with revenue ranging from $712 million to $717 million.

Smith & Wesson shares have increased 16 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $25.40, a climb of 95 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWHC at http://www.zacks.com/ap/SWHC

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Keywords: Smith & Wesson, Earnings Report