The White House unintentionally is proving to be the best thing to happen to gun sales in decades.
In late April, Sturm Ruger (RGR) reported first-quarter results that exceeded targets. Net sales for the largest publicly traded gun manufacturer surged 39% to $155.9 million, compared to $112.3 million a year earlier.
The gun maker’s earnings came in at $1.20 per share, up from 79 cents per share in the same period last year. Analysts on Wall Street were expecting earnings of $1.01 per share with revenue of $112.3 million, according to Thomson Reuters.
New products, such as LC380 and SR45 pistols, boosted sales, but the company said the recent gun control debate is the main driver of rising sales.
Read more at USA Today