I have maintained for quite some time that the only true “consumer confidence” statistic one should look at is that of gun sales. The bottom line is people do not hoard guns when they are confident about the future of the country, and gun sales have never been better. More evidence emerged as Smith & Wesson just announced record financial results. From the company’s press release put out after the market close:
Net sales from continuing operations for the second quarter were a record$136.6 million, up 48.0% from the second quarter last year. The increase was led by continued strong sales across all of the company’s firearm product lines, including M&P™ branded products, such as pistols, modern sporting rifles, and the recently launched Shield™ pistol designed for concealed carry and personal protection.
Not only that, but they think the future is equally confident…for gun sales at least.
The company expects net sales from continuing operations for the third quarter of fiscal 2013 to be between$126.0 million and $131.0 million, which would represent year-over-year growth from continuing operations in excess of 30.0%. The company anticipates GAAP earnings per diluted share from continuing operations of between$0.19 and $0.21for the third quarter of fiscal 2013.
Perhaps this is why Bob Costas and Piers Morgan are running around the mainstream media bashing guns. The White House is totally freaked out about this and I guarantee you there will be a meeting about these results in D.C. shortly.
Full press release here.
In Liberty,
Mike
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Very good, Genius. An article about Smith and Wesson, with a picture of a COLT Python.
HAHAHAHA…….. a freakin writing about Smith and Wesson and you use a picture of a Colt Python. Hahahahaha…. journalisitic BS.
Where exactly did I use a picture on my website post?
HahahaHAHA…. comment fail
I think the irony the previous commentor is referring to comes from a link from a blog brotherjohnf.com where the image of a colt revolver is used to reference a story about smith and Wesson.
And the person is wrong, it is not a python. It is a Colt Trooper Mark III, python has the full underlug.
You know Mike, its been a growing concern of those paying attention that things aren’t as ‘A-Okay’ as the MSM would want us to believe. Besides that, there’s also always apprehension regarding the possibility of a confiscation.
Also, another way to look at self defense tools such as guns is as part of one’s ‘saving’s’ per se. That, while also including any decent supply of food, which is a decent hedge against rising inflation anyway, rounded out with precious metals make for a good ‘savings plan.’ That’s been our new view in respect to the growing economic turmoil.
In any case, thanks for the info and keep up the good work.