Olin Corporation reported Winchester sales for the third quarter 2017 were $183.8 million compared to $203.2 million in the third quarter 2016, a decline of 9.4 percent.
Third quarter 2017 segment earnings were $17.2 million compared to $36.0 million in the third quarter 2016.
The decrease in sales and segment earnings was primarily due to lower shipments to commercial customers reflecting lower demand for pistol, rifle, and shotshell ammunition, partially offset by higher military sales. The year over year decline in segment earnings also reflects a less favorable product mix, lower selling prices and higher commodity and other material costs. Winchester third quarter 2017 results included depreciation and amortization expense of $4.8 million compared to $4.7 million in the third quarter 2016.
