Firearms maker Sturm Ruger has best year since 2016
Sturm Ruger & Co. had its best sales year since 2016 as a "historic surge" in firearms demand held throughout 2020. Shares of the firearm maker rose nearly 3% in the extended session Wednesday. Sturm Ruger said it earned $31.7 million, or $1.78 a share, in the fourth quarter, compared with 46 cents a share in the year-ago period. Sales rose to $169.3 million, from $105.1 million a year ago, and were the company's highest quarterly sales since the first quarter of 2017. Sales for the year reached $568.9 million, the highest yearly sales since 2016. "Our tremendous sales growth and profitability in 2020 was driven by the historic surge in consumer demand that began late in the first quarter and continued throughout the year," Chief Executive Christopher J. Killoy said in a statement. Shares of Sturm Ruger ended the regular trading day down 1.1%.
Sturm Ruger and Co. had its best deals year since 2016 as a "noteworthy flood" in guns request held all through 2020. Portions of the gun producer rose almost 3% in the all-inclusive meeting Wednesday. Sturm Ruger said it acquired $31.7 million, or $1.78 an offer, in the final quarter, contrasted and 46 pennies an offer in the year-back period.
Deals rose to $169.3 million, from $105.1 million every year back, and were the organization's most noteworthy quarterly deals since the main quarter of 2017. Deals for the year came to $568.9 million, the most noteworthy yearly deals since 2016. "Our colossal deals development and benefit in 2020 was driven by the memorable flood in purchaser request that started late in the primary quarter and proceeded consistently," Chief Executive Christopher J. Killoy said in an explanation. Portions of Sturm Ruger finished the normal exchanging day down 1.1%.