Reuters: Global Markets: Smith & Wesson expects higher fourth-quarter results; shares rise

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Smith & Wesson expects higher fourth-quarter results; shares rise Jun 13th 2013, 21:31 Tweet Share this Email Print Related News Peanut costs to weigh on Smucker's margins in first half Thu, Jun 6 2013 Dollar General clips profit forecast as shoppers opt for low-margin goods Tue, Jun 4 2013 NetApp speeds up share buyback, starts dividend Tue, May 21 2013 Analysis & Opinion China's last armed village Related Topics Hot Stocks » Asian Markets » A visitor looks at a Smith & Wesson gun at MILIPOL International State Security Exhibition in Paris October 9, 2007. Credit: Reuters/Regis Duvignau Thu Jun 13, 2013 5:31pm EDT (Reuters) - Gun maker Smith & Wesson Holding Corp (SWHC.O) said it expected to report higher fourth-quarter results, sending its shares up 6 percent in extended trading. Mass shootings such as the Newtown school massacre and the Aurora theater shooting have triggered fierce gun control debates in the United States and prompted President Barack Obama to push for legislation to curb gun violence. Fears of new gun controls have spurred demand of guns, particularly among first-time buyers including a growing number of women and pensioners. Smith & Wesson estimated net income at about 44 cents per share for the quarter ended April 30. Analysts on average were expecting a profit of 40 cents per share, according to Thomson Reuters I/B/E/S. The company, which sells guns under brands such as Smith & Wesson, M&P and Thompson/Center, said it expected net sales to increase 38 percent to $179 million, above estimates of $170.72 million. Separately, the company announced a $100 million stock repurchase program. Smith & Wesson shares were up at $9.85 after the bell after closing at $9.30 on the Nasdaq on Thursday. (Reporting By Maria Ajit Thomas in Bangalore; Editing by Maju Samuel) Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions