Gun company cannot keep up with national demand.
June 26, 2013
Smith & Wesson finished its fiscal year with colossal profits as the demand for new firearms surges nationwide.
The storied firearms company released a yearly financial report Tuesday showing astronomical sales figures and a favorable future outlook.
Net sales for the recent fourth quarter were almost $180 million, an increase of over 37% from the same quarter last year.
For the full fiscal year, net sales reached over $587 million, an increase of over 42% compared to the previous year.
Even after increasing production capacity, Smith & Wesson cannot meet ongoing demand for most of its firearms, according to the report. The company’s back orders are exploding as a result.
Other firearms manufacturers are also experiencing high demand and massive back orders. In May, Guns.com reported that Sturm, Ruger & Co. could not manufacture the additional two million firearms necessary to keep up with its most recent orders. Ruger stopped taking new orders for two months last year in order to catch up to sales.
The surge in demand has left empty gun store shelves nationwide. Michael Cargill, the owner of Central Texas Gun Works in Austin, Texas and a guest on the Alex Jones Show, believes the Obama Administration has greatly influenced gun sales.
“Because of the current administration and their continued attack on lawful gun ownership in this country, your major gun manufacturers have seen their profit earnings soar to unprecedented numbers,”
Cargill said. “I contribute that to the President being the nation’s number one gun seller.”
Wait times for new firearms are now meeting or even surpassing the wait times for concealed handgun licenses nationwide. Licensees may get their new permit in the mail before their new handgun.
“Consumers who are looking for your most popular firearms such as the Smith & Wesson M&P Shield and the Springfield XDS for concealed carry purposes will have to wait three months for the industry to catch up with the demand,” Cargill said. “Because citizens are concerned that their civil liberties and Second Amendment rights will be taken away, the wait time for a [Texas] CHL license is also three months.”
Be sure to check out Michael Cargill’s interview on the Infowars Nightly News:
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This article was posted: Wednesday, June 26, 2013 at 2:41 pm