Category: Firearm Industry News

Coverage of events for Fear and Loading by Guy J. Sagi and breaking news of interest to firearm owners.

Posted on

Coast Guard Foundation Activates Disaster Relief Grant Program

Coast Guard Foundation Activates Disaster Relief Grant Program

From the Coast Guard Foundation

The Coast Guard Foundation, a non-profit organization committed to strengthening the Coast Guard community and service by supporting members and families, announced today the activation of its disaster relief grant program to assist Coast Guard members impacted by the devastation of Hurricane Laura. The activation is a result of reports from Louisiana and Texas that Coast Guard members living in affected areas suffered personal property loss, including damage to homes and vehicles, as a result of Hurricane Laura. In particular, we have learned of Coast Guard families in the Port Arthur, Texas and Lake Charles, Louisiana areas with significant losses. Coast Guard units that responded to the storm will receive additional relief and response support to help boost morale and strengthen readiness following a long week of coordinating and facilitating rescues, port and waterway openings and maritime environmental response.

The Coast Guard Foundation has mobilized its supporter base to assist Coast Guard members and families impacted by natural disasters since 2005 when Hurricane Katrina struck the Gulf Coast. In recent years, the Foundation has distributed $2 million to support Coast Guard members impacted in Texas, Florida and Puerto Rico following the 2017 hurricane season, and those affected by the wildfires in California.

“The destruction to this region that this powerful storm has left behind is unimaginable,” said Susan Ludwig, president, Coast Guard Foundation. “In these challenging times the brave men and women of the Coast Guard units that responded to the storm will receive additional relief and response support to help boost morale and strengthen readiness. We are here to support their families and community so that they can focus on their vital mission.”

Disasters happen, and the experts have some sound advice on how to prepare.

Posted on

Smith & Wesson Brands Quarterly report

Smith & Wesson Brands Quarterly report

From Smith & Wesson

Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI), a U.S.-based leader in firearm manufacturing and design, today announced financial results for the first quarter fiscal 2021, ended July 31, 2020. The financial results for the period are reported in two segments: Firearms and Outdoor Products & Accessories. On August 24, 2020, the company announced that it had completed the previously announced spin-off of its Outdoor Products & Accessories segment. Therefore, first quarter fiscal 2021 represents the final period in which the Smith & Wesson Brands, Inc. financial results will include the financial results of the Outdoor Products & Accessories segment.

First Quarter Fiscal 2021 Consolidated Financial Highlights

  • Quarterly net sales were $278.0 million compared with $123.7 million for the first quarter last year, an increase of 124.8%. Firearms segment gross sales were $229.9 million, which included $1.0 million of inter-segment revenue, an increase of $134.4 million, or 140.9%, over the comparable quarter last year. Outdoor Products & Accessories segment gross sales were $50.6 million, which included $1.5 million of inter-segment revenue, an increase of $17.4 million, or 52.3%, over the comparable quarter last year.
  • Gross margin for the quarter was 42.0% compared with 38.7% for the comparable quarter last year.
  • Quarterly GAAP net income was $48.4 million, or $0.86 per diluted share, compared with a GAAP net loss of $(2.1) million, or $(0.04) per diluted share, for the comparable quarter last year.
  • Quarterly non-GAAP net income was $54.9 million, or $0.97 per diluted share, compared with $1.7 million, or $0.03 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for net income exclude costs related to the spin-off of the Outdoor Products & Accessories segment, COVID-19 related expenses, and other costs. For a detailed reconciliation, see the schedules that follow in this release.
  • Quarterly non-GAAP Adjusted EBITDAS was $84.2 million, or 30.3% of net sales, compared with $17.5 million, or 14.1% of net sales, for the comparable quarter last year.

Mark Smith, President and Chief Executive Officer, commented, “Today, I am pleased to report record-breaking first quarter financial results for Smith & Wesson Brands, Inc. These results could not have been possible without our dedicated employees, who not only worked diligently to manufacture and fulfill the strong flow of customer orders with a broad assortment of our highly sought-after firearms, but did so with a heightened commitment to the health and safety protocols that our operations management team put in place at the start of the pandemic. Our record revenue and unit sales during the quarter demonstrates our ability to rapidly respond to increased demand through our flexible manufacturing model and our state-of-the-art distribution facility, delivering outstanding products that resonate with the firearms consumer.”

Smith continued, “With the successful spin-off of our Outdoor Products & Accessories segment last week, we have now returned to our heritage as a pure-play firearms company, with a focus on organic growth and returning excess capital to our stockholders. As such, our Board of Directors has authorized the company to declare a regular, quarterly cash dividend of $0.05 per share. Our first quarterly dividend will be payable on October 1, 2020 to shareholders of record as of the market close on September 17, 2020.”

Deana McPherson, Executive Vice President and Chief Financial Officer, commented, “Our strong financial performance enabled us to generate operating cash flow of $83.5 million during the quarter, which, combined with our cash on hand, allowed us to pay down $135.0 million on our revolving line of credit and end the quarter with zero net debt. After the end of the first quarter, as part of the spin-off process, we restructured our credit facility for a new, five-year term that enables us to maintain an unsecured $100 million line of credit for the foreseeable future.”

Conference Call and Webcast

The company will host a conference call and webcast today, September 3, 2020, to discuss its first quarter fiscal 2021 financial and operational results. Speakers on the conference call will include Mark Smith, President and Chief Executive Officer, and Deana L. McPherson, Executive Vice President and Chief Financial Officer. The conference call may include forward-looking statements. The conference call and webcast will begin at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Those interested in listening to the conference call via telephone may call directly at (844) 309-6568 and reference conference identification number 7047608. No RSVP is necessary. The conference call audio webcast can also be accessed live on the company’s website at www.smith-wesson.com, under the Investor Relations section.

Reconciliation of U.S. GAAP to Non-GAAP Financial Measures

In this press release, certain non-GAAP financial measures, including “non-GAAP net income,” “Adjusted EBITDAS,” and “free cash flow” are presented. From time-to-time, the company considers and uses these supplemental measures of operating performance in order to provide the reader with an improved understanding of underlying performance trends. The company believes it is useful for itself and the reader to review, as applicable, both (1) GAAP measures that include (i) amortization of acquired intangible assets, (ii) transition costs, (iii) recall related expenses, (iv) the tax effect of non-GAAP adjustments, (v) COVID-19 expenses, (vi) net cash used in investing activities, (vii) interest expense, (viii) income tax expense, (ix) depreciation and amortization, and (x) stock-based compensation expenses; and (2) the non-GAAP measures that exclude such information. The company presents these non-GAAP measures because it considers them an important supplemental measure of its performance. The company’s definition of these adjusted financial measures may differ from similarly named measures used by others. The company believes these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. These non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for the company’s GAAP measures. The principal limitations of these measures are that they do not reflect the company’s actual expenses and may thus have the effect of inflating its financial measures on a GAAP basis.

About Smith & Wesson Brands, Inc.

Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI) is a U.S.-based leader in firearm manufacturing and design, delivering a broad portfolio of quality handgun, long gun, and suppressor products to the global consumer and professional markets under the iconic Smith & Wesson®, M&P®, Thompson/Center Arms™, and Gemtech® brands. The company also provides manufacturing services including forging, machining, and precision plastic injection molding services. For more information call (844) 363-5386 or visit www.smith-wesson.com.

Safe Harbor Statement

Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe-harbor created thereby. Such forward-looking statements include, among others, our intent to pay a regular, quarterly cash dividend. We caution that these statements are qualified by important risks, uncertainties, and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, economic, social, political, legislative, and regulatory factors; the potential for increased regulation of firearms and firearm-related products; actions of social activists that could have an adverse effect on our business; the impact of lawsuits; the demand for our products; the state of the U.S. economy in general and the firearm industry in particular; general economic conditions and consumer spending patterns; our competitive environment; the supply, availability, and costs of raw materials and components; the impact of protectionist tariffs and trade wars; speculation surrounding fears of terrorism and crime; our anticipated growth and growth opportunities; our ability to increase demand for our products in various markets, including consumer, law enforcement, and military channels, domestically and internationally; our penetration rates in new and existing markets; our strategies; our ability to maintain and enhance brand recognition and reputation; our ability to introduce new products; the success of new products; our ability to expand our markets; the potential for cancellation of orders from our backlog; and other risks detailed from time to time in our reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2020.

Posted on

Savage is Hiring

Savage is Hiring

From Savage Arms

Savage Arms is now hiring for multiple positions at its Massachusetts headquarters. The company is currently searching for qualified applicants to join the Savage team in engineering, sales support, and operations.

“2020 continues to be a strong year for Savage and we’re excited to be adding to our family,” Chris Bezzina, COO of Savage Arms said. “Savage continues to lead the industry in innovative new products that are designed and built here in North America by very talented people that are proud to be in this industry and passionate about our products.”

At the factory in Westfield, Massachusetts, Savage continues a tradition that began more than 125 years ago. Hunters, competitors, marksmen and plinkers all trust the Savage and Stevens brands for our proven accuracy and performance. Savage firearms put rounds on target and meat on the table. Now, as the company settles into a new period of self-governance, Savage continues to build out its catalog of innovative new firearms that are not only designed around safety, but are also able to improve the user’s experience through enhanced fit, versatility, and functionality.

AVAILABLE POSITIONS:

• Sales Support

• Engineering

• Operations

For more information about the available positions, or to apply: click here.

Posted on

ZEISS Victory SF 32 Binocular Earns Editor’s Choice Award

ZEISS Victory SF 32 Binocular Earns Editor’s Choice Award

From Zeiss

Outdoor Life Magazine has selected the ZEISS Victory SF 10×32 binocular as the Editor’s Choice Award in the hunting binocular category. The magazine recognizes the best and hottest new products in their annual Optics Test. The Editor’s Choice Award was announced in the September issue of the magazine.

The judges raved about three key features of the SF 32: “With its remarkable Victory SF, ZEISS has managed to upend the staid world of binoculars and offer a product with three noticeable advantages. The first is its absurdly wide field of view, achieved by increasing the sizes of lenses and redesigning the optical prescription, or how all lenses and prisms work together.

Another remarkable attribute of the new ZEISS, which will be available in 8×42, 10×42, and 8×32 configurations along with the 10×32, is its balance. The binocular weighs a trim 20.8 ounces, but it feels even lighter, largely because of its wonderful equilibrium.

Finally, SF in its name stands for “SmartFocus,” but it might stand for “SpeedFocus” given the rapidity of zooming from close focus to infinity in just 1.6 turns of the wheel.

Optically, the Victory SF brings the same best-in-class attributes as earlier Victory models. The guts are SCHOTT fluoride glass protected by ZEISS’s proprietary high-contrast and weatherproof coatings. We also liked the very positive four-position eyecups and the locking diopter control, located conveniently on the center hinge.”

The company also makes high quality riflescopes. Here’s one of its latest, the Conquest V4.

Posted on

S&W Contributes $500,000 to NSSF’s 2020 #GUNVOTE Campaign

From NSSF

NSSF, the trade association for the firearm industry, is pleased to announce that firearm manufacturer Smith & Wesson  contributed $500,000 to NSSF’s #GUNVOTE voter registration and education campaign. This is the largest donation the #GUNVOTE campaign has received to date.

“This election cycle marks a crossroads in the future of the firearms industry and of our very freedom to bear arms,” said Mark Smith, President and CEO of Smith & Wesson. “We must ensure the Second Amendment is protected at every level. It is critical that hunters, recreational target shooters, and all those seeking to exercise their constitutional right to protect themselves and their families be educated and vote in November. We’re extremely proud to make this contribution to NSSF’s #GUNVOTE campaign and for what it represents in educating voters how their choices at the polls will impact the future of all Americans’ free exercise of their constitutional rights.”

Hornady also recently donated another half million.

“The firearm industry is fortunate to have numerous partners who are dedicated to the growth and success of the whole and Smith & Wesson is right at the top,” stated Lawrence G. Keane, NSSF Senior Vice President and General Counsel. “With this generous contribution to NSSF’s #GUNVOTE campaign, Smith & Wesson is going above and beyond to assist NSSF in educating and activating voters ahead of November’s election. Smith & Wesson’s substantial contribution is vital now more than ever and is to be commended.”

Election Day is less than 70 days away and millions of voters will head to the polls on November 3rd. Nearly 5 million of those are first-time gun buyers. Current events across the United States demonstrate why the Founding Fathers 230 years ago had the foresight to recognize why the right to keep and bear arms would still be vital today.

#GUNVOTE is a campaign by the NSSF to encourage America’s gun owners to register to vote, to become educated on where the candidates stand on the Second Amendment and, on election day not to risk their rights and #GUNVOTE. The campaign’s website provides links to help voters register and find their polling place. NSSF strongly encourages all industry members to download the #GUNVOTE button to use on their websites and social media platforms and order #GUNVOTE decals for distribution to family, friends and customers.

Posted on

NRA-ILA Announces Partnership with 6 Companies for $1Million Match Campaign

From NRA-ILA

The National Rifle Association Institute for Legislative Action (NRA-ILA) has announced a new partnership with six companies that have pledged to match $1 million in donations made to NRA-ILA through Nov. 15.

“These patriotic businesses are pledging vital resources to support and defend the Second Amendment because they understand that our right to own a gun in defense of ourselves and our families is on the ballot in November. By working together with such partners, our membership intends to defeat those who are trying to strip our rights away from us,” said Jason Ouimet, executive director, NRA-ILA.

The six participating companies are: SIG SAUER, Kel-Tec, Credova, Rock Island Auction Company, Taurus, and Davidson’s Gallery of Guns. The campaign, Partners for Patriotism, is simple. Anyone who makes a donation to NRA-ILA between now and Nov. 15 will have their donation matched. Folks can make donations of any size—whatever they can spare is helpful. And because of this campaign, whatever is donated will automatically be doubled by participating companies.

Partners for Patriotism could not come at a better time. With the presidential election looming, the stakes have never been higher. Democratic presidential nominee Joe Biden and his running mate, Kamala Harris, have made their intentions clear: If elected, they will immediately work to enact gun control that could result in rifle confiscation, criminalization of private sales, tax and registration schemes, and elimination of a law that prevents gun companies from frivolous lawsuits.

“If you’ve considered donating in the past, but never got around to it — now is the time. A donation now has twice the impact at the most critical time possible, as every dollar donated goes directly to NRA-ILA’s political fight for America’s Second Amendment,” Ouimet concluded.

Posted on

Delta Defense Recognized As One of America’s Fastest-Growing Companies

Delta Defense Recognized As One of America’s Fastest-Growing Companies

From USCCA

For the ninth year in a row, Delta Defense, LLC – which provides marketing, operations, and customer care services to the United States Concealed Carry Association (USCCA) – has been recognized by Inc. Magazine as one of America’s fastest-growing companies.

Inc. Magazine, a monthly publication that reports on entrepreneurs and the private sector business community, once again included Delta Defense, LLC on its annual “2020 Inc. 5000 List,” a well-respected ranking of the nation’s fastest-growing private companies honoring the nation’s most inspiring entrepreneurs. The list provides a snapshot of the most successful companies within the American economy’s most dynamic segment— its independent small businesses. Headquartered in West Bend, Delta Defense, LLC is one of 54 companies representing Wisconsin on the list, highlighting the company’s importance to the state’s economy as industries across the board work to rebuild financially from the coronavirus pandemic.

“It is truly an honor to be recognized as one of Wisconsin’s economic success stories alongside some of America’s strongest businesses and entrepreneurs,” said Tim Schmidt, President of USCCA and Delta Defense. “For almost a decade, we have been included on this respected list thanks to our passionate and dynamic team that works tirelessly to provide critical resources and training to responsible gun owners across America. As millions of people and families are facing financial hardships caused by the coronavirus pandemic, we will continue investing in local communities and developing more opportunities for new jobs across the country.”

Even prior to the coronavirus pandemic, the USCCA, which provides self-defense training and legal protection to responsible gun owners, experienced more than 30 percent year-over-year growth since 2016. That growth has also meant an increase in jobs in southeastern Wisconsin.

Earlier this year, the USCCA was recognized by the Wisconsin Journal Sentinel as one of the top workplaces in the state. The USCCA now employs more than 300 people and experienced a 39 percent increase in total employees in 2019. That trend has continued into the first half of 2020.

Delta Defense provides sales, marketing and IT administrative services to the United States Concealed Carry Association and publishes Concealed Carry Magazine. The USCCA provides self-defense education, training and legal protection to responsible American gun owners. Headquartered in West Bend, Wisconsin, the USCCA is the largest and fastest-growing association whose sole focus is the responsibly armed American.

Posted on

USCCA Emergency Preparedness Fundamentals Training Program

USCCA Emergency Preparedness Fundamentals Training Program

Ahead of “National Preparedness Month” in September, the United States Concealed Carry Association (USCCA), which provides industry leading self-defense education, training and legal protection to over 400,000 American gun owners, recently launched a new training to help individuals become more prepared in the event of a disaster and confident in their ability to provide for themselves and their families.

Whether it’s a tornado, hurricane, wildfire, civil unrest, a public health crisis or a logistical strike, USCCA’s Emergency Preparedness Fundamentals Training will ensure people have the necessary information and resources to survive when the unthinkable happens. “National Preparedness Month” is recognized each September in communities across the country to encourage Americans and their families to take appropriate steps to educate themselves and prepare for emergencies that could occur in their homes, businesses, schools and communities.

“This year, the coronavirus pandemic has opened our eyes to the critical importance of being prepared for when disaster strikes. The ease and convenience at which we access water, food, shelter and security has caused many of us to lose sight of how to fend for ourselves and loved ones without basic needs,” said Tim Schmidt, CEO and founder of the USCCA. “The importance of self-reliance will never be more real than in a survival situation, which is why the time to become educated and trained is now. No one should ever second-guess their ability to protect themselves and their families when the unthinkable comes knocking at the door.”

Schmidt recently spoke with Fox News about the surge of first-time gun owners in the United States – hitting nearly 5 million in 2020 so far – and the critical importance of training and education:

  • “The first thing I would explain to [a] new gun owner or concealed carrier is that the training required by your state is not even close to enough. I don’t care if you’re in the most stringent state in terms of training, it’s not enough. You need to find a way to educate yourself on firearms handling.”

USCCA’s Emergency Preparedness Fundamentals Training will help responsible Americans uncover the four core pillars of survival, build a 72-hour survival kit for any disaster, gain secret insights on sheltering in place and understand the fundamentals of home defense with a firearm.

Disasters happen, and the experts have some sound advice on how to prepare

Posted on

Gun Cameras Now Going Nye County Sheriff’s Office Firearms

Gun Cameras Now Going Nye County Sheriff’s Office Firearms

From Virdian

 

The Nye County Sheriff’s Office has deployed the FACT Duty™ Weapon-Mounted Camera (WMC™). As transparency in Law Enforcement once again becomes a critical need at this juncture in society today, Sheriff Sharon Wehrly and the department have the only technology and tool dedicated to capturing Officer Involved Shootings.

Nye County, Nevada encompasses over 18,000 square miles comprised of towns and large environmentally sensitive areas including Death Valley National Park. The Sheriff’s Department has also experienced recent officer-involved shootings.

“Our deputies patrol a landscape much different than most other agencies,” said Sheriff Wehrly. “After testing and evaluating the FACT Duty we concluded that it is a must for our officers. It brings unprecedented transparency and visibility to any Officer Involved Shooting. It also prepares them for the modern world of policing.”

Viridian has created an important category for law enforcement with the Weapon-Mounted Camera. This distinctive camera provides an unobstructed view of critical use-of-force events from the end of the firearm, addressing limitations officers can face with body cameras.

“We have worked with Sheriff Wehrly and her staff extensively,” said Viridian President and CEO Brian Hedeen . “The clear need for this product is validated in a major way now that all 120 of her deputies will use the FACT Duty. As we’ve watched the highest profile events in our country unfold, we firmly believe our technology is a solution for every department and agency. The price, ease of implementation and benefits to everyone involved are second to none.”

The highly advanced WMC employs a 1080p full-HD digital camera with a microphone and 500 lumen tactical light. Viridian’s proprietary INSTANT-ON technology automatically activates the camera and microphone whenever the officer draws the firearm from its holster. Not only does this eliminate risk of failure to manually turn on the camera during a critical event, but it also keeps the officer from fumbling with cumbersome equipment.

The department isn’t the first to adopt the camera. In California the King City Police Department has them deployed, along with several agencies in Texas.

Posted on

Improve Your Defensive Capabilities In Low Light Conditions

Improve Your Defensive Capabilities In Low Light Conditions

From Meprolight

According to reports, over 5,000,000 individuals have purchased guns this year. Statistics indicate approximately 40% of them are first time purchasers. They’ve come to understand what most of us believe,: you are responsible for your own safety. All of us have reached the same conclusion, at any time or place, we could find ourselves in a position where all other options—avoidance, retreat and de-escalation—won’t work and we have to defend ourselves or those with us. If you’ve watched the news recently, these situations usually occur at night.

Tiger McKee, Director of Shootrite Firearms Academy wrote the following in The Tactical Wire, “Based on data from previous attacks we know that it’s likely to occur during hours of the day associated with adverse light, and — if you’re forced to fire — you’ll likely fire about three to four shots.” (The Tactical Wire.com 3.25.20) Meprolight Tru-Dot night sights allow you to upgrade your capabilities for these less than ideal situations.

Designed as an upgrade to the sights that come with your handgun, Meprolight Tru-Dot models provide a sight picture system for improved aiming which requires no transition from day to night use. The shooter’s point of aim reference are three solid dots illuminated by tritium to enhance visibility in low-light or night time conditions. The tritium illumination is guaranteed for 12 years. Meprolight Tru-Dot sight dots are perfect for any lighting condition you may find yourself in. They are available in, orange, yellow or green color combination models for over 24 manufacturers including Glock, Heckler & Koch, SIG, Smith & Wesson, Springfield Armory, IWI, Ruger and CZ

Meprolight, founded in 1990, is the industry leading tritium-illuminated sight manufacturers in the world making day/night sights offering the widest variety of handgun brands in the US market.

For more information or to find your local Meprolight Dealer, visit https://us.meprolight.com. And here’s a look at the company’s FT Bullseye Sight.