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Thursday, May 11, 2017

Ruger Experiences Above-Expected 1st Quarter Earnings

Calling the media-proclaimed death of the gun sales business “greatly exaggerated,” Sturm, Ruger & Co. CEO Christopher Killoy announced better-than-expected earnings for the first quarter.

“The demise of the firearms industry was likely greatly exaggerated,” Killoy said at Ruger’s annual meeting. “We’ve seen ups and downs before.” He also noted that the company’s customer base remains strong, and the industry has seen an influx of first-time buyers and younger customers—a claim corroborated by National Shooting Sports Foundation data, which reported that background checks for gun purchases showed a slight increase of 0.04 percent in April.

Many in anti-gun groups and in the so-called “mainstream” media have been predicting—and hoping for—a dramatic drop in gun sales to curtail what they see as a gun culture run amok. Unfortunately for them, gun sales continue to remain strong—an encouraging sign to gun owners, who see strong gun sales as a sign of continued freedom.