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November 18th, 2019

Smith & Wesson Parent AOBC Splits into Two Companies

American Outdoor Brands Smith Wesson spin-off industry

American Outdoor Brands Corporation (NASDAQ: AOBC), one of the world’s leading providers of firearms and products for shooting, hunting, and outdoor enthusiasts, is splitting into two separate companies, with the Smith & Wesson gun business becoming a stand-alone enterprise again. Last week American Outdoor Brands’ Board of Directors unanimously approved a plan to spin-off its outdoor products and accessories business as a tax-free stock dividend to its stockholders. The proposed transaction, which is expected to be completed in the second half of calendar 2020, would create two independent, publicly-traded companies: Smith & Wesson Brands, Inc. (encompassing the firearm business) and American Outdoor Brands, Inc. (encompassing the outdoor products and accessories business).

READ More about Smith & Wesson Spin-Off HERE »

American Outdoor Brands Smith & Wesson spin-off industry

According to AOBC: “The purpose of the spin-off is to enable the management team of each company to focus on its specific strategies, including (1) structuring its business to take advantage of growth opportunities in its specific markets; (2) tailoring its business operation and financial model to its specific long-term strategies; and, (3) aligning its external financial resources, such as stock, access to markets, credit, and insurance factors, with its particular type of business.”

Barry M. Monheit, Chairman of the Board, said, “There have been significant changes in the political climate as well as the economic, investing, and insurance markets since we embarked upon what we believe have been our very successful diversification efforts. We believe that separating into two independent public companies will allow each company to better align its strategic objectives with its capital allocation priorities. From the standpoint of our stockholders, at the time of the spin-off, the AOBC stockholders will own 100% of each company, thereby maintaining their pre-spin interest in both companies, and will thereafter have the ability to make distinct investment decisions tailored to their particular investment profile.”

Mark Smith Will Lead Smith & Wesson After Spin-Off
Upon successful completion of the spin-off, Mark Smith will become CEO of Smith & Wesson Brands, Inc.; Smith is currently the President of the Manufacturing Services Division of AOBC and supports all of its businesses. James Debney, current AOBC President and CEO, will lead the outdoor products and accessories company as CEO after the spin-off.

The Future of Smith & Wesson Brands, Inc. (Projections)
Headquartered in Springfield, Massachusetts, Smith & Wesson Brands, Inc. will continue its 167-year-old heritage of producing firearms. This business’s handgun, long gun, and suppressor products are marketed under the Smith & Wesson®, M&P®, Performance Center®, Thompson/Center Arms™, and Gemtech® brands. The company’s financial profile is expected to yield strong cash flows and profitability with a plan to eventually return capital to stockholders in the form of dividends and stock repurchases. Assuming a spin-off in eight to ten months, Smith & Wesson Brands, Inc. is expected to generate revenue between $450 million and $500 million and adjusted EBITDAS between $90 million and $105 million in its first 12 months as an independent company.

News Tip from EdLongrange. We welcome reader submissions.

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July 2nd, 2018

Gun Industry Production Trends — S&W Is Now Number One

Shooting Industry News production NICS statistics report 2016 2018
This gun production chart appears in the July 2018 issue of Shooting Industry magazine. Factoid: U.S. total firearms production has more than tripled since we launched this website in 2004.

Move over Ruger, Remington, Savage … Smith & Wesson is the new Big Kid on the Block. According to 2016 firearms industry production reports from Shooting Industry magazine, S&W has taken over as the number one firearms producer in the United States. That’s good news for S&W, but bad news for Ruger, which had been number one for the past eight years.

Read Full U.S. Firearms Industry Annual Report »

Smith & Wesson was the top overall U.S. firearms manufacturer in 2016 with 2,120,910 firearms produced, a stunning 44% increase over the previous year. Ruger was second in 2016 with 1,981,590 firearms, an 18.8% gain over 2015. The last time S&W was ranked number one was way back in 2007. While S&W is generally seen as a handgun maker, it also produces a wide variety of rifles both under the S&W banner and its subsidiary Thompson/Center Arms. Last year the historic Smith & Wesson enterprise was officially renamed American Outdoor Brands Corp. (NASDAQ: AOBC) in part to reflect the fact that it is more than just a handgun maker.

Shooting Industry News production NICS statistics report 2016 2018

Key Industry Production Numbers in 2016

There were some other interesting facts revealed in the Shooting Industry magazine report:

1. For only the second time ever, U.S. gun-makers produced over 10 million firearms (rifles, pistols, and shotguns) in 2016. The 10,664,318 total was nearly 20% more than in 2015.

2. For the first time ever, in 2016 American gun-makers produced over 4 million rifles. The 4,239,335 rifle output set a new high mark, that was 6.5% more than the previous record year, 2013 (3,979,570).

3. A record number of handguns were also produced in 2016. The 5,576,366 pistols produced in 2016 marked a 7.9% increase from 2013, the previous record-holding year (5,167,008).

4. Gun sales increased dramatically in 2016, influenced by fears over the election: “NICS background checks achieved record-setting levels in 2016 — with 15,700,471 background checks (NSSF-Adjusted), an increase of 10.2 percent over 2015 (14,244,240 [NSSF-Adjusted]).”

Shooting Industry News production NICS statistics report 2016 2018Top Overall U.S. Firearms Manufacturers in 2016
(Percentage change over 2015)
• Smith & Wesson: 2,120,910 (+44.0%)
• Ruger: 1,981,590 (+18.8%)
• Remington: 1,240,665 (+8.5%)
• SIG Sauer: 633,533 (+27.4%)
• O.F. Mossberg: 508,466 (+0.8%)

Top U.S. Rifle Makers:
(Percentage change over 2015)
• Remington: 769,942 (-0.5%)
• Ruger: 701,992 (+6%)
• Anderson Mfg.: 453,763 (+51.1%)
• Smith & Wesson: 396,710 (+89.7%)
• Savage Arms: 311,878 (-18.3%)

Top U.S. Handgun Makers:
(Percentage change over 2015)
• Smith & Wesson: 1,724,131 (+36.4%)
• Ruger: 1,279,415 (+27.4%)
• SIG Sauer: 581,807 (+26.6%)
• Glock: 368,140 (+70%)
• Kimber: 223,785 (+69.6%)

Current Outlook for American Firearms Industry
So far, 2018 has been a fairly tough year for the gun industry: “The U.S. firearms industry finds itself at a crossroads in 2018. Facing attacks from state governments, financial institutions, tech companies and students (all while experiencing sluggish demand) it’s currently in a challenging position.” However, there are many indicators that the gun industry is still strong. Kimber and Tauras have both opened new factories in the U.S. Southeast, and Remington has emerged from Chapter 11 Bankruptcy with creditors exchanging debt for equity: “It is morning in Remington country — We are excited about the future…” said Anthony Acitelli, Remington CEO.

For more insights, read the full version of the U.S. Firearms Industry 2018 Report. There are many more detailed charts and tables breaking down production, imports, and exports. This appears in the July 2018 issue of Shooting Industry Magazine.

Click Here to Read Entire July 2018 Issue (Digital Version).

Click Here to Read All Past Issues of Shooting Industry Magazine (Digital Versions)

Industry News Tip from EdLongrange. We welcome reader submissions.
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