logo

[breadcrumb_custom]

Smith and Wesson Inc. (SWBI) stock declined during after-hours, here’s the update

Smith and Wesson Inc. (NASDAQ: SWBI) stock soared by 1.82% at last close whereas the SWBI stock price fell by 14.67% in the after-hours trading session. Under the legendary Smith & Wesson, M&P, and Gemtech brands, Smith & Wesson Brands is a global pioneer in weapon production and design, supplying a wide range of premium handguns, long guns, and suppressors products to the global consumer and professional markets.

SWBI stock’ Financial Outcomes

Smith and Wesson announced its financial highlights for the second quarter of fiscal 2022. The summary is stated below:

  • For the second quarter of fiscal 2022, the company’s net sales were $230.5 million, down $18.3 million, or 7.3 percent, compared to the second quarter of fiscal 2021.
  • The gross margin was 44.3 percent in the second quarter of fiscal 2022, relative to 40.6 percent in the previous quarter.
  • Quarterly GAAP net income was $50.9 million, or $1.05 per diluted share, up from $49.1 million, or $0.87 per diluted share, in the prior year’s comparable quarter.
  • Non-GAAP net income for the quarter was $55.3 million, or $1.13 per diluted share, compared to $52.8 million, or $0.93 per diluted share, in the previous quarter.
  • Non-GAAP Adjusted EBITDAS for the second quarter of fiscal 2022, were $80.4 million, or 34.9 percent of net sales, compared to $78.9 million, or 31.7 percent of net sales, in the prior quarter.

Mark Smith, President, and CEO stated that,

The focus has been on the long term throughout the past 18 months of unparalleled demand levels for their business. The Smith & Wesson team has been constantly at work establishing the company for continuing strong operating results and market position, irrespective of market situations. The fruits of those efforts and their flexible strategy were clear throughout their second quarter when demand levels fell from historical highs experienced during the peak of the pandemic. Despite a drop in sales year over year, their operations team increased gross profit, more than compensating for the drop in the top line.

On Key

Related Posts