Smith & Wesson Holding Corporation reported preliminary net sales from continuing operations for the fiscal second quarter were approximately $136 million, an increase of approximately $44 million, or 48 percent, compared with net sales from continuing operations for the corresponding quarter a year ago.


Preliminary net sales surpassed the company's previous guidance range of $130 million to $135 million. The company noted that the increase in net sales was driven by continued strength in orders across its product lines, including M&P branded products such as pistols, modern sporting rifles, and the new Shield. Preliminary GAAP net income from continuing operations is expected to be between $0.23 and $0.24 per diluted share, compared with net income of $0.01 per diluted share from continuing operations for the corresponding quarter a year ago. This is higher than the company's previous guidance for GAAP net income per diluted share from continuing operations of $0.19 to $0.21.


Based on the strength of the company's preliminary fiscal 2013 second quarter financial performance and current outlook for the year, the company is reiterating its guidance for net sales from continuing operations for full year fiscal 2013 of between $530 million and $540 million, which would represent year-over-year growth from continuing operations of approximately 30 percent. The company is also reiterating its guidance for fiscal 2013 GAAP earnings per diluted share from continuing operations of between $0.85 and $0.90.