Michael O. Fifer, CEO, president and director of Sturm, Ruger & Co. in Southport reported robust sales and earnings figures for the third quarter.
“For the third quarter of 2013, net sales were $170.9 million and fully-diluted earnings were $1.44 per share,” Fifer reported in a recent conference call. “For the corresponding period in 2012, net sales were $118.2 million and fully-diluted earnings were $0.88 per share. This represents year-over-year sales growth for the quarter of 45 percent and earnings growth of 64 percent.
“For the first 9 months of 2013, net sales were $506.4 million and fully-diluted earnings were $4.25 per share,” he said. “For the corresponding period in 2012, net sales were $350.1 million and fully-diluted earnings were $2.58 per share. This represents year-over-year sales growth for the first nine months of 45 percent and earnings growth of 65 percent.”
The company took a hit ”“ pegged at less than $500,000 ”“ when a thunderstorm damaged its Prescott, Ariz., facility. Production was only hampered across a single three-day weekend.
“Our new product introductions remained a strong driver of demand and were up $146.6 million or 32 percent of firearm sales in the first nine months of 2013,” Fifer said. “As a reminder, we define new products as only those that were introduced in the past two years and we include only major new products and not minor line extensions.”
New products introduced so far this year include a pair of pistols and a rifle. The nascent fourth quarter has witnessed the launch of the SR-762 modern sporting rifle and the Red Label over-and-under shotgun.
