Sturm Ruger reported earnings overnight. In a word, sales are up . . . a lot. Glad I own the stock. I bought it not long after the election because I figured the Ascension of Our Dear Leader plus a bad economy would help gun sales.
This tidbit from the earnings report is especially interesting:
Firearm orders received grew from $156 million in 2007 to $234 million in 2008. The order backlog at December 31, 2008 was $48 million, up from $18 million at December 31, 2007. Nonetheless, shipments in 2009 will be limited to units produced in 2009 as finished goods inventory was depleted during the fourth quarter of 2008.
In other words, they are selling guns faster than they can make them.
I bought SWHC for the same reason. I'm also very happy.
ReplyDeleteI don't often comment but enjoy your blog.
peace, J
I, too, bought a very modest amount of SWHC (Smith and Wesson). I'm such an eeeevil capitalist.
ReplyDeleteThanks for the good word and the visits.
wannabe