Smith & Wesson Holding Corp. reported preliminary sales from continuing operations for the fourth quarter were approximately $129 million in its fourth quarter ended April 30, an increase of approximately $28 million, or 28 percent, compared with net sales from continuing operations for the corresponding quarter a year ago. This is significantly higher than the company's previous guidance of $113 million to $118 million.
Preliminary firearm order backlog increased to approximately $439 million as of April 30, 2012, an increase of $252 million, or 135 percent, compared with the end of the fourth quarter last year, and an increase of $240 million, or 121 percent, compared with the most recent sequential quarter.
The company noted that the increase in net sales and backlog were driven by continued strength in orders across its product line, including M&P branded products such as pistols, modern sporting rifles, and the new Shield, which had a very successful launch in the quarter. Fourth quarter net sales were also aided by the significant efforts of the operations team to maximize internal manufacturing capacity and accelerate deliveries from component suppliers.
The results provided in this press release are preliminary and subject to completion and review of the company's financial statements in conjunction with the company's Form 10-K Report for the fiscal year ended April 30, 2012. In addition, it should be noted that backlog is cancellable until shipped.
The company will release full results on June 28.