SOUTHPORT, CONNECTICUT, April 27, 2010–Sturm, Ruger & Company, Inc. (NYSE-RGR), announced that for the first quarter of 2010, the Company reported net sales of $68.3 million and earnings per share of 44\u00a2, compared with sales of $63.5 million and earnings per share of 30\u00a2 in the first quarter of 2009.<\/p>\n
Chief Executive Officer Michael O. Fifer made the following comments related to the Company’s first quarter of 2010:<\/p>\n
* Our year-over-year performance was highlighted by a 47% increase in earnings and an 8% increase in net sales.<\/p>\n
* Demand for our products remained strong in the first quarter of 2010. Estimated sell-through of our products from distributors to retailers in the first quarter of 2010 increased by approximately 8% from the first quarter of 2009 and approximately 21% from the fourth quarter of 2009. This sales growth, despite declines of 4% and 5% in National Instant Criminal Background Check System (NICS) background checks over the same periods, suggests we gained market share.<\/p>\n
* Our firearms unit production increased 3% from the fourth quarter of 2009, and 15% from the first quarter of 2009.<\/p>\n
* Our backlog grew to 239,900 units and $72 million at the end of the first quarter of 2010, from 181,000 units and $60 million at the end of 2009.<\/p>\n
* In January, we launched the SR9c, a compact version of the full-size SR9 striker-fired, semi-automatic pistol. The SR9c has been very popular since its introduction, and it has also generated renewed interest in the full-size SR9 pistol.<\/p>\n
* New product introductions, including the new SR9c pistol, remain a strong driver of demand, and products introduced since January 2008 represented $27 million or 39% percent of sales in the first quarter of 2010.<\/p>\n
* Cash generated from operations during the first quarter of 2010 was $10 million. At the end of the first quarter of 2010, our cash and equivalents totaled $59 million. Our current ratio is 3.1 to 1 and we have no debt.<\/p>\n
* During the first quarter of 2010, capital expenditures totaled $5.7 million, much of it related to tooling and equipment for new products. We expect to invest approximately $12 to $18 million for capital expenditures during 2010.<\/p>\n
* At the end of the first quarter of 2010, stockholders’ equity was $103 million, which equates to a book value of $5.39 per share, of which $3.08 per share was cash and equivalents.<\/p>\n
Chief Executive Officer Michael O. Fifer issued a letter to Ruger shareholders today, and the Company filed its Quarterly Report on Form 10-Q for the first quarter of 2010. The financial statements included in this Quarterly Report on Form 10-Q are attached to this press release.<\/p>\n
Both the Quarterly Report on Form 10-Q and the letter to Ruger shareholders on Form 8-K are available on the SEC website at www.sec.gov<\/a> and the Ruger website at www.ruger.com\/corporate\/<\/a>. Investors are urged to read the complete Form 10-Q and the letter to shareholders to ensure that they have adequate information to make informed investment judgments.<\/p>\n About Sturm, Ruger<\/p>\n Sturm, Ruger was founded in 1949 and is one of the nation’s leading manufacturers of high-quality firearms for the commercial sporting market. Sturm, Ruger is headquartered in Southport, CT, with manufacturing facilities located in Newport, NH and Prescott, AZ.<\/em> SOUTHPORT, CONNECTICUT, April 27, 2010–Sturm, Ruger & Company, Inc. (NYSE-RGR), announced that for the first quarter of 2010, the Company reported net sales of $68.3 million and earnings per share of 44\u00a2, compared with sales of $63.5 million and earnings per share of 30\u00a2 in the first quarter of 2009. Chief Executive Officer Michael O. […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[58],"tags":[556],"class_list":["post-3052","post","type-post","status-publish","format-standard","hentry","category-news-from-the-industry","tag-ruger-fireamrs"],"_links":{"self":[{"href":"https:\/\/www.downrange.tv\/blog\/wp-json\/wp\/v2\/posts\/3052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.downrange.tv\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.downrange.tv\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.downrange.tv\/blog\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.downrange.tv\/blog\/wp-json\/wp\/v2\/comments?post=3052"}],"version-history":[{"count":0,"href":"https:\/\/www.downrange.tv\/blog\/wp-json\/wp\/v2\/posts\/3052\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.downrange.tv\/blog\/wp-json\/wp\/v2\/media?parent=3052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.downrange.tv\/blog\/wp-json\/wp\/v2\/categories?post=3052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.downrange.tv\/blog\/wp-json\/wp\/v2\/tags?post=3052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/em> \ufeff<\/p>\n","protected":false},"excerpt":{"rendered":"