Olin Corp. reported Winchester’s sales for the fourth quarter 2018 were $145.5 million compared to $165.4 million in the fourth quarter 2017.
The decrease of 12 percent was primarily due to lower shipments to commercial customers.
Fourth quarter 2018 segment earnings for Winchester were $4.3 million compared to $11.1 million in the fourth quarter 2017. The decrease in segment earnings was primarily due to lower commercial ammunition volumes, a less favorable product mix, lower selling prices, and higher commodity and other material costs, partially offset by lower operating costs. Year-over-year fourth quarter commodity and other material costs increased by $2.0 million. Winchester fourth quarter 2018 results included depreciation and amortization expense of $5.1 million compared to $5.3 million in the fourth quarter 2017.
According to Olin’s statement, Winchester’s sales in the year were $656.3 million, down from $681.2 million a year ago. Income before taxes fell to $38.4 million from $72.4 million a year ago.