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published in Blogs
Sep 02, 2021
Smith & Wesson(SWBI, $24.88) misses revenue expectations, despite earnings beat

Smith & Wesson(SWBI, $24.88) misses revenue expectations, despite earnings beat

Shares of Smith & Wesson  fell sharply after hours Wednesday, after the gunmaker posted first-quarter revenue that fell short of analysts’ expectations, even as earnings exceeded estimates.

The company’s first-quarter non-GAAP earnings came in at $1.57 per share, compared to the $1.26 per share expected by analysts polled buy FactSet.

However, revenue of $274.6 million was below the $278.6 million expected by analysts.

The company's gross margin improved to 47.3% from 40.2% a year ago.

"We believe we are well positioned for the ever-changing market conditions in our industry, to maintain our leadership position in the industry, and continue delivering impressive profitability in any environment,"  CEO Mark Smith said.

 

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