Profits Way Up at Smith & Wesson
'The [number one] driver of firearms sales is fear': analyst
By Jenn Gidman,  Newser Staff
Posted Dec 9, 2015 8:33 AM CST
In this March 25, 2015, photo, an IRS agent holds a Smith & Wesson .38 Special during an interview in Mountainside, NJ.   (AP Photo/Julio Cortez)

(Newser) – It's been a very good year for one particular gunmaker. Smith & Wesson tripled its profits in the three months leading up to October, with net income of $14.2 million (it was $5.2 million during the same period last year), the BBC reports. Net sales have grown 32.1%, to $143.2 million, with its firearms unit adding $18.4 million to that pot. Behind the sales surge: "The [number one] driver of firearms sales is fear," a BB&T Capital Markets analyst says, noting that gun-rights proponents may be stockpiling because they're afraid of future weapons bans or restrictions. CNNMoney notes that these latest figures don't count guns sold after last week's San Bernardino shooting, noting that firearms sales often spike after such events. (Coming soon: a shopping channel for guns.)

 

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