RTTNews | Jun 18, 2021 10:17AM EDT

10:16 Friday, June 18, 2021 (RTTNews.com) - Shares of firearms maker Smith & Wesson Brands, Inc. (SWBI) are rising more than 10% Friday morning following robust fourth-quarter results.

The company reported net income of $89.2 million, or $1.70 per share in the fourth quarter compared with $20.9 million, or $0.38 per share in the same quarter a year ago.

On an adjusted basis, earnings of $1.71 per share beat the average estimate of analysts polled by Thomson Reuters at $1.02 per share.

Net sales for the quarter increased 67.3% to $322.9 million from $193.0 million for the comparable quarter last year on strong product demand.

"Strong consumer preference for our products combined with our ability to rapidly react to the increased demand has placed us in a clear leadership position as we enter into our first full fiscal year as a standalone pure-play firearms company," said Mark Smith, President and Chief Executive Officer.

SWBI, currently at $22.02, has traded in the range of $13.84- $23.57 in the past 52weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3203518/stock-alert-smith-wesson-brands-up-10-on-sharp-rise-in-earnings-above-view.aspx)

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