President Obama’s successful re-election bid hurt most businesses, but not all
Newspapers around the country reported that the Jones industrial average dropped 313 points, or 2.4%, at close of business on Nov. 7. This was an apparent reaction to the presidential election results the day before.
The Obama win didn’t spell doom and gloom for everyone, however. Smith & Wesson, the iconic American firearm manufacturer, reported an amazing 48 percent increase in sales for the quarter according to its media release.
“Net sales from continuing operations for the second quarter were a record $136.6 million, up 48.0% from the second quarter last year,” the press release read. “ The increase was led by continued strong sales across all of the company’s firearm product lines, including M&P™ branded products, such as pistols, modern sporting rifles, and the recently launched Shield™ pistol designed for concealed carry and personal protection.”
The Smith & Wesson press release also included the following statement from James Debney, Smith & Wesson Holding Corporation President and Chief Executive Officer:
“Our strong fiscal second quarter financial performance reflects the ongoing successful execution of our strategic plan, and accordingly today we are increasing our full year fiscal 2013 financial guidance. During the second quarter, consumers continued to demonstrate their desire for our products, driving strong demand for our M&P modern sporting rifles and polymer pistols, including our M&P Shield pistol designed for concealed carry and personal protection.”
Debney continued, “We also announced our presenting sponsorship of the NRA Women’s Network, a meaningful resource for the growing number of female gun enthusiasts of all ages and skill levels.”
Read the full Smith & Wesson press release here.