Sturm, Ruger and Co. Inc. said sales of new products and a strong December boosted results for the fourth quarter of 2009 despite tough comparisons against a year-ago period that saw revenues and earnings spike amidst speculation about an anti-gun agenda in Washington.
Ruger management said over half of its annual sales growth-or about $50 million-was attributable to increased sales of new products, which include the LCP, the LCR and SR-556.
Consolidated revenues for the Southport, CT-based firearms specialist were $63.9 million for the fourth quarter of 2009, up 9.2% from $58.5 million in the prior-year period. Earnings for the quarter were 31 cents per share compared with 28 cents per share in Q4 2008.
Management added that firearms sales for the full year surged to $267 million from $174 million in fiscal 2008 on the strength of the aforementioned new products and overall robust firearm demand-particularly in the first half of the year. In response to the increase in demand, the company said it increased production by 56% in 2009.
Management also added that the company was in the process of developing a shotgun prototype, which they expect to launch in nine to twelve months.