Smith & Wesson gun sales are up 22%

Photo: blinow61 -

(CNN) — Smith & Wesson is selling more guns than ever.

The company, one of the nation’s largest gun sellers, reported a 22.4% annual increase in firearm sales Thursday.

Smith & Wesson executives also projected robust sales growth for the next 10 months.

Shares of Smith & Wesson (SWHC) spiked nearly 7% in after-hours trading after the report was released.

That follows a volatile few days for the gun manufacturer’s stock, which initially jumped after the deadliest mass shooting in U.S. history that left 49 victims dead at an Orlando gay club.

Smith & Wesson’s report included sales in the three months through April 30. But it’s typical for gun manufacturers to see demand rise in the wake of such violent incidents as pro-gun consumers fear laws will restrict access.

After the shooting in San Bernardino in December, Smith & Wesson’s quarterly sales jumped 61.5%.

Jeff Buchanan, CFO of Smith & Wesson, explicitly told investors the company does not alter its guidance based on political rhetoric or anticipated legislation.

Buchanan instead attributed their favorable forecast to “product innovation in the firearm and accessories division.”

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s