Smith & Wesson Profits Soar
Times are good for Smith & Wesson, the well-known pistol-maker which also recently starting retailing AR15 type rifles, shotguns, and hunting rifles. Smith & Wesson Holding Corp. (NASDAQ:SWHC) recently reported first-quarter profit increased 39 percent compared to the same period last year. The company credited strong firearms sales as well as its acquisition of Thompson/Center Arms. Firearm sales were up 55.2 percent in the quarter. Handgun sales at retail locations rose 41 percent.
We are pleased to record the success of Smith & Wesson as it expands its product line to include long guns. The addition of another major rifle manufacturer is a good thing for the shooting sports. George Gardner of GA Precision has built some tactical rifles using the new T/C Icon action. And Carl Bernosky (photo below) won the NRA High Power Nationals at Camp Perry using a AR15 platform with a Smith & Wesson M&P15 lower and John Holliger match upper. This was the first time a semi-auto AR15 won “all the marbles” at Camp Perry in the High Power division. (AR15s of course are the mainstay of Service Rifle matches.)
