The Freedom Group, also known as Remington Outdoor Co., posted net sales of $347.1 million compared to $237.9 million in 2012, an jump of 45.9 percent.
Firearm net sales for the three months ended September 29, 2013 were $195.9 million, an increase of $65.6 million, or 50.3 percent, as compared to the three months ended September 30, 2012.
All firearms categories experienced sales increases led by a $41.9 million increase in the centerfire category and increases in shotgun, handgun, rimfire and other firearms and firearms products of $6.3 million, $8.1 million, $3.2 million and $6.1 million, respectively.
Net sales for the nine months ended September 29, 2013 were $605.9 million, an increase of $202.4million, or 50.2 percent, as compared to the nine months ended September 30, 2012. All firearm categories experienced sales increases led by a $129.4 million increase in the centerfire category and increases in shotgun, handgun, rimfire and other firearms and firearm products of $27.3 million, $23.4 million, $7.6 million and $14.7 million,
respectively.
Ammunition net sales for the three months ended September 29, 2013 were $126.1 million, an increase of $31.2 million or 32.9 percent, as compared to the three months ended September 30, 2012. Sales of centerfire ammunition increased$12.1 million, while sales of shotshell ammunition increased $6.2 million. In addition, sales of rimfire ammunition increased $5.2 million, while sales in the other product lines increased $7.7 million.
These increases were primarily the result of increased market demand supported by improved factory production.
Net sales for the nine months ended September 29, 2013 were $337.1 million, an increase of $93.4 million, or 38.3 percent, as compared to the nine months ended September 30, 2012. Sales of centerfire ammunition increased$39.8 million, while sales of shotshell ammunition increased $26.5 million. Sales of rimfire ammunition increased $10.8 million, while sales in other product lines increased $16.3 million.
These increases were primarily the result of increased market demand supported by improved factory production
Net sales in the “all other” category were $25.1 million for the three months ended September 29, 2013, an increase of $12.4 million, or 97.6 percent, as compared to the prior year period.
The $12.4 million increase is primarily due to higher sales volumes in various accessories and apparel businesses, including the impact of Freedom’s newly acquired accessories businesses.
Net sales were $77.5 million in all other businesses for the nine months ended September 29, 2013, an increase of $47.4 million, or 157.5 percent, as compared to the prior year period.
Total operating expenses for the three months ended September 29, 2013 were $60.6 million, an increase of $11.9 million, or 24.4 percent, The increase is attributable to growth from acquisitions and from our investment in quality, lean and support functions.
Total Comprehensive Income Attributable to Controlling Interests for the third quarter of 2013 came in at $35.7 million versus 21.9 million for the 2012 quarter an increase of 63 percent.
The complete Freedom Group Q3 report is posed at www.freedom-group.com and is listed in the investor Information box.
