Ruger sales drop in second quarter
Sturm, Ruger & Company originally planned to announce its financial results for the second quarter after the close of the stock market Wednesday.
But it jumped the gun, so to speak, and made its announcement Tuesday.
The largest publicly traded U.S. firearms maker reported net sales of $153.7 million and earnings of $1.12 per share, down from net sales of $179.5 million and earnings of $1.63 per share in the second quarter of 2013.
Sales in the second quarter of 2014 decreased 14 percent from the second quarter of 2013.
The Connecticut-based company is one of the largest employers in Yavapai County, where it has a manufacturing plant in Prescott.
Tuesday, Ruger's stock (RGR on the New York Stock Exchange) closed at $57.65, up .03 from the previous day. In January, the stock was over $80 per share, but it has rebounded slightly from a year-to-date low of $48.52.
Though sales were down about 17 percent in the second quarter compared to the first, year-to-date sales for 2014 were down only about 3 percent, compared to 2013. For the six months ending June 28, net sales were $323.5 million, compared to net sales of $335.4 million for the same period of 2013.
Ruger also announced a dividend of 45 cents per share for the second quarter. The dividend is approximately 40 percent of net income.
Sturm Ruger & Co Inc is building a 220,000-square-foot facility in North Carolina, the company's first major expansion in more than 25 years.
Follow Tom Scanlon on Twitter @tomscanlonpress.