Hartford Business.com
February 04, 2012
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Southport firearm maker Sturm, Ruger & Co. Inc. said new gun models helped nearly double sales in the fiscal second-quarter, contributing to a 700 percent gain in net profits.
The company earned $8.7 million, or 46 cents a share, in the three months ended July 4, up from $1.1 million, or 5 cents a share, the comparable period a year ago.
Revenues in the latest quarter increased to $72.4 million from $38.7 million last year.
Sturm Ruger said the launch of its SR-556 sporting rifle and other new firearms aided the strong performance.
As a result, Sturm Ruger raised its second-quarter dividend to 12.3 cents a share. The dividend varies with quarterly operating income.
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