Please disable your Ad Blocker to better interact with this website.

Order KEEP AND BEAR: THE MOVIE now for FREE shipping and a FREE bumper sticker!
Store

While anti-gun Obama was a huge boon for gun and ammunition sales, gun-friendly Donald Trump is actually hurting sales. The American people are buying fewer guns and ammunition than when Obama was in office possibly due to the fact that they already purchased their firearms and secondly, they aren’t as afraid of possible gun control laws making it harder for them to buy guns and ammo.

Regardless of the reason, the slump is hitting Sturm, Ruger & Co. really hard. Their fourth quarter sales were down 50.3% and now they are reporting that the sales for the first quarter of this year are down by 35.8%. the corporate tax cuts helped them tremendously, but they still are experiencing a huge loss of revenue.

(Winston-Salem Journal) – A continuing slump in firearms demand took another quarterly toll on the profit level of Sturm, Ruger & Co.

The manufacturer reported Tuesday a 35.8 percent decrease in first-quarter net income to $14.3 million. The decline followed up on a 50.3 percent drop-off in the fourth quarter to $10.3 million.

Sales were down 21.6 percent to $131.1 million.

Trending: Meghan McCain Drops Second AmendmentTruth Bombs on The View

Christopher Killoy, Ruger’s chief executive, said contributing to the profit decline is “the unfavorable de-leveraging of fixed manufacturing costs due to the decline in production volume.”

Diluted earnings per share were 81 cents, down from $1.21 a year ago.

Ruger said it paid $4.64 million in federal income taxes during the first quarter, compared with just under $12 million a year ago. It said the federal corporate tax-rate cut was worth a positive 11 cents a share…

Earlier this year, Remington was forced to seek bankruptcy protection due to the losses they incurred during the current slump in firearm sales. However, they report that they hope to emerge from bankruptcy by the end of this month. Ruger is hoping that they aren’t forced to follow the same path.

READ MORE HERE

 

 

 

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.

Become an Insider!

Enter your email address below to stay in the loop and read our latest and greatest updates!

Send this to a friend