ciao RW
cosa mi dici di swhc
Smith & Wesson Swings To 3Q Loss Amid Writedowns; View Downbeat
Riatterrata ... i conti continuano a non piacere al mercato
DOW JONES NEWSWIRES
Smith & Wesson Holding Corp. (SWHC) swung to a fiscal third-quarter loss amid $51 million in writedowns, as weakness in its perimeter security division weighed on the top line.
Shares fell 5.7% to $3.67 in recent after-hours trading. The company reduced its current-year sales forecast to $389 million to $393 million from $405 million to $425 million. For the current quarter, it projected $89 million to $100 million in sales, short of the $123 million average estimate of analysts polled by Thomson Reuters.
The gun maker has seen its bottom line slump lately. Recent quarters' sales had declined as consumers were less motivated to make purchases by fear of increased gun control. In the latest period, sales rose 6% at the firearm division but plunged 38% at the smaller perimeter security unit, which contributes less than a fifth of the top line.
The writedowns consisted of goodwill and long-lived intangible assets related to the Universal Safety Response business it acquired in 2009.
For the quarter ended Jan. 31, Smith & Wesson posted a loss of $52.8 million, or 88 cents a share, compared with a prior-year profit of $3.1 million, or 5 cents a share. The latest result was reduced 80 cents by the writedowns and was also hurt by consolidation of Thomson/Center Arms operations. Analysts had expected the company to break even on a per-share basis.
Net sales dipped 1.8% to $89.3 million, falling short of the company's downbeat December view of $94 million to $99 million.
Gross margin narrowed to 24.1% from 30%.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;
matthew.jarzemsky@dowjones.com
Smith & Wesson Swings To 3Q Loss Amid Writedowns; View Downbeat - WSJ.com