- Sturm, Ruger & Co. (NYSE:RGR) estimates it saw a 31% Y/Y drop in Q2 in units sold from distributors to retailers, and an 11% drop for the whole of 1H14. Total NICS adjusted background checks (used to measure industry demand) fell 12% in Q2, and 18% in 1H14.
- Declining sales led gross margin to fall to 32.8% from 39.4% a year ago. Opex fell 13% to $17.3M, with both sales and G&A spend declining. New products were 18% of 1H firearm sales.
- $75M has been added to RGR's buyback authorization, raising its size to $100M.
- RGR -4% AH. Smith & Wesson (NASDAQ:SWHC) -2.3% in sympathy.
- Q2 results, PR
at MarketWatch.com (Oct 29, 2014)