Gun company posts solid quarter

Sturm, Ruger & Company Inc. posted solid finances for 2Q 2013.

The Southport-based firearms company reported net sales of $179.5 million and earnings of $1.63 per share, compared with net sales of $119.6 million and earnings of $0.91 per share in 2Q 2012.

For the full six months ended June 30, net sales were $335.4 million and earnings were $2.83 per share. For the corresponding period in 2012, net sales were $231.9 million and earnings were $1.71 per share.

The company also announced its board of directors declared a dividend of $0.65 per share for the second quarter, for shareholders of record as of Aug. 16, payable on Aug. 30. This dividend varies every quarter, the company explained, because it pays a percent of earnings rather than a fixed amount per share. This dividend is approximately 40 percent of net income.

The company cited new products as a major reason for the boost; they represented 31 percent of sales for the first half of the year. A pair of new pistols ”“ LC380 pistol and the SR45 pistol ”“ proved popular.