Sturm, Ruger & Company, Inc. reported net sales of $255.2 million and earnings of $1.48 per share, compared with sales of $271.0 million and earnings of $1.44 per share in 2009.
For the fourth quarter of 2010, net sales were $64.1 million and earnings were 30¢ per share. For the corresponding period in 2009, net sales were $63.9 million and earnings were 31¢ per share.
The Company also announced today that its Board of Directors declared a dividend of 5¢ per share for the fourth quarter, for shareholders of record as of March 11, 2011, payable on March 25, 2011.
Chief Executive Officer Michael O. Fifer made the following comments related to the Company’s results:
In 2010, the company launched several new products including the SR9c compact pistol, the LCR-357 revolver, and the SR40 striker-fired pistol. New product introductions remain a strong driver of demand and represented $62.3 million or 24.8% of sales in 2010.
In 2010, we returned $12.0 million to our shareholders through the following:
1. Paying $6.3 million of dividends, and
2. Repurchasing 412,000 shares of our common stock in the open market at an average price of $13.83 per share, for a total of $5.7 million.
In January 2011, we repurchased an additional 133,400 shares of our common stock in the open market at an average price of $14.98 per share.