Investors holding stock in Smith & Wesson received some welcome good news Friday with reports that shares of the gunmaker are up more than 10 percent after the company’s quarterly earnings report showed net sales increasing, year-over-year, by 12 percent for the quarter.
"Our first-quarter results exceeded our expectations for sales and net income in both our firearms and accessories divisions," Smith & Wesson CEO James Debney said. One likely reason for increasing sales is the threat of gun-control laws making firearms scarce, if not illegal.
Indeed, since Obama took office, Smith & Wesson stock has soared by over 600 percent and the number of background checks conducted through the National Instant Check System (NICS)—a broader measure of likely gun sales—has increased an average of 7 percent annually over the past eight years. Ironically, this latest report comes close on the heels of a HuffPo op-ed claiming that the gun industry is in a slump.
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