Olin Corporation reported Winchester’s sales for the second quarter 2017 were $169.4 million compared to $181 million in the second quarter 2016.
Second quarter 2017 segment earnings for Winchester were $19.0 million compared to $31.2 million in the second quarter 2016. The decrease in sales and segment earnings was primarily due to lower shipments to commercial customers reflecting lower demand for pistol, rifle, and shotshell ammunition, partially offset by higher military sales. The segment earnings reduction was also associated with a less favorable product mix and higher commodity and other material costs in the second quarter 2017 compared to second quarter 2016.
Winchester second quarter 2017 and 2016 results both included depreciation and amortization expense of $4.5 million.
