Smith & Wesson Holding Corporation Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended October 31, 2015; Provides Earnings Guidance for the Third Quarter and Full Year of Fiscal 2016
January 19, 2016 at 09:08 am EST
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Smith & Wesson Holding Corporation reported unaudited earnings results for the second quarter and six months ended October 31, 2015. For the quarter, the company reported GAAP operating income of $21.782 million compared to $10.774 million a year ago. Non-GAAP operating income was $24.532 million compared to $11.057 million a year ago. GAAP net income was $12.466 million or $0.22 per diluted share compared to $5.050 million or $0.09 per diluted share a year ago. Non-GAAP net income was $14.195 million or $0.25 per diluted share compared to $5.228 million or $0.10 per diluted share a year ago. Non-GAAP adjusted EBITDAS was $33.398 million compared to $18.814 million a year ago. Net cash provided by operating activities was $6.136 million compared to net cash used in operating activities was of $14.208 million a year ago.
For six months, the company reported GAAP operating income of $51.6 million compared to $36.449 million a year ago. Non-GAAP operating income was $59.463 million compared to $37.263 million a year ago. GAAP net income was $26.878 million or $0.48 per diluted share compared to $19.606 million or $0.35 per diluted share a year ago. Non-GAAP net income was $31.822 million or $0.57 per diluted share compared to $20.198 million or $0.36 per diluted share a year ago. Net cash provided by operating activities was $22.761 million compared to net cash used in operating activities was of $3.428 million a year ago.
The company provided earnings guidance for the third quarter and full year of fiscal 2016. For the quarter, the company expects revenue in the range of $175 million to $180 million, GAAP earnings per share in the range of $0.36 to $0.38 and non-GAAP earnings per share in the range of $0.39 to $0.41.
For the year, the company expects revenue in the range of $650 million to $660 million, GAAP earnings per share in the range of $1.21 to $1.26 and non-GAAP earnings per share in the range of $1.36 to $1.41. The company expects tax rate of 37%.
Smith & Wesson Brands, Inc. is a manufacturer and designer of firearms. The Company manufactures a range of handguns (including revolvers and pistols), long guns (including modern sporting rifles, pistol caliber carbines, and lever action rifles), handcuffs, firearm suppressors, and other firearm-related products. It sells its products to a variety of customers, including firearm enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement and security agencies and officers, and military agencies in the United States and throughout the world. The Company sells its products under the Smith & Wesson, and Gemtech brands. The Company also provides manufacturing services, including forging, machining, and precision plastic injection molding services. The Company manufactures its products at its facilities in Springfield, Massachusetts; Houlton, Maine; Deep River, Connecticut, and Maryville, Tennessee.
Smith & Wesson Holding Corporation Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended October 31, 2015; Provides Earnings Guidance for the Third Quarter and Full Year of Fiscal 2016