Smith & Wesson booked record sales as gun debate raged

by James O'Toole, CNN Money  |  published on June 17, 2013

SmithandWesson
NEW YORK (CNNMoney) – The past 12 months have been bad for gun violence, but good for Smith & Wesson.

The gun maker reported preliminary results Thursday showing that sales for the fiscal year ended April 30 hit a record $588 million, a 43% increase versus the year prior. Earnings were a record $1.22 a share, up from 40 cents a share in the prior fiscal year.

Both figures came in slightly ahead of analyst expectations. Smith & Wesson (SWHC)shares rose 5.3% in after-hours trading.

The gun industry saw a spike in demand from consumers fearing that the national debate over gun control would yield new regulations limiting their ability to buy certain firearms.

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