Smith & Wesson Holding Corporation Reports Second Quarter Fiscal 2012 Financial Results

- Sales from Continuing Operations of $92.3 Million, Up 10.5% Year-Over-Year
- Raising Fiscal 2012 Annual Sales Guidance for Continuing Operations

SPRINGFIELD, Mass., Dec. 8, 2011 /PRNewswire-FirstCall/ — Smith & Wesson Holding Corporation (NASDAQ Global Select: SWHC), a leader in firearm manufacturing, today announced financial results for the second quarter of fiscal 2012.

For more INFO CLICK HERE:

finally got a new computer

finallt got a new computer so hopefully I’ll be back in business posting as soon as I figure out the new windows system.  later

Own a gun; lose your coverage!

Senate Finance Committee Chairman Max Baucus has something to say to gun owners:  “Own a gun; lose your coverage!”

Baucus’ socialized health care bill comes up for a Finance Committee vote on Tuesday.  We have waited and waited and waited for the shifty Baucus to release legislative language.  But he has refused to release anything but a summary — and we will never have a Congressional Budget Office cost assessment based on actual legislation.  Even the summary was kept secret for a long time. 

But, on the basis of the summary, the Baucus bill (which is still unnumbered) tells us virtually nothing about what kind of policy Americans will be required to purchase under penalty of law — nor the consequences.  It simply says:

* “all U.S. citizens and legal residents would be required to purchase coverage through (1) the individual market…”;

* “individuals would be required to report on their federal income tax return the months for which they maintain the required minimum health coverage…”;

* in addition to an extensive list of statutorily mandated coverage, HHS Secretary Kathleen Sebelius would be empowered to “define and update the categories of treatments, items, and services…” within an insurance plan which would be covered in a policy constituting “required minimum health coverage.”

ObamaCare and gun control

It is nearly certain that coverage prescribed by the administration will, to control costs, exclude coverage for what it regards as excessively dangerous activities.  And, given Sebelius’ well-established antipathy to the Second Amendment — she vetoed concealed carry legislation as governor of Kansas — we presume she will define these dangerous activities to include hunting and self-defense using a firearm.  It is even possible that the Obama-prescribed policy could preclude reimbursement of any kind in a household which keeps a loaded firearm for self-defense. 

The ObamaCare bill already contains language that will punish Americans who engage in unhealthy behavior by allowing insurers to charge them higher insurance premiums.  (What constitutes an unhealthy lifestyle is, of course, to be defined by legislators.)  Don’t be surprised if an anti-gun nut like Sebelius uses this line of thinking to impose ObamaCare policies which result in a back-door gun ban on any American who owns “dangerous” firearms.

After all, insurers already (and routinely) drop homeowners from their policies for owning certain types of guns or for refusing to use trigger locks (that is, for keeping their guns ready for self-defense!).  While not all insurers practice this anti-gun behavior, Gun Owners of America has documented that some do — Prudential and State Farm being two of the most well-known. 

The good news is that because homeowner insurance is private (and is still subject to the free market) you can go to another company if one drops you.  But what are you going to do under nationalized ObamaCare when the regulations written by Secretary Sebelius suspend the applicability of your government-mandated policy because of your gun ownership?

All of this is in addition to something that GOA has been warning you about for several months … the certainty that minimum acceptable policies will dump your gun information into a federal database … a certainty that is reinforced by language in the summary providing for a study to “encourage increased meaningful use of electronic health records.” 

Remember, the federal government has already denied more than 150,000 military veterans the right to own guns, without their being convicted of a crime or receiving any due process of law.  They were denied because of medical information (such as PTSD) that the FBI later determined disqualified these veterans to own guns.

Is this what we need on a national level being applied to every gun owner in America?

Incidentally, failure to comply would subject the average family to $1,500 in fines — and possibly more for a household with older teens.  And, although a Schumer amendment purports to exempt Americans from prison sentences for non-purchase of an ObamaPolicy — something which was never at issue — it doesn’t prohibit them from being sent to prison for a year and fined an additional $25,000 under the Internal Revenue Code for non-payment of the initial fines.

ACTION:  Contact your two U.S. Senators.  Ask him or her, in the strongest terms, to vote against the phony Baucus bill.  

You can use the Gun Owners Legislative Action Center at http://www.gunowners.org/activism.htm to send your senators the pre-written e-mail message below.

—– Pre-written letter —–

Dear Senator:

You already know that the phony Baucus bill:

* Is predicated on $283 billion in phony “cuts” which have never, never ever been realized since a similar commitment to cut Medicare costs in the Balanced Budget Act of 1997 — and will never, never ever be realized under the Baucus bill;

* Requires massive numbers of Americans to have government-approved insurance which the CBO predicts will be more expensive than current policies;

* Refuses to provide a cost for these policies, making it almost certain that more and more Americans will find insurance beyond their reach;

* Has no legislative language and nothing but a CBO “guesstimate” of the cost and benefits, based on a summary.

On the basis of the summary, the Baucus bill tells us virtually nothing about what kind of policy Americans will be required to purchase under penalty of law — nor the consequences.  It does say that the “Secretary of HHS [Kathleen Sebelius] would be required to define and update the categories of treatments, items, and services…” within an insurance plan which would be covered in a policy constituting “required minimum health coverage.”

This could spell trouble for gun owners.

It is nearly certain that coverage prescribed by the administration will, to control costs, exclude coverage for what it regards as excessively dangerous activities.  And, given Sebelius’ well-established antipathy to the Second Amendment — she vetoed concealed carry legislation as governor of Kansas — I presume she will define these dangerous activities to include hunting and self-defense using a firearm.  It is even possible that the Obama-prescribed policy could preclude reimbursement of any kind in a household which keeps a loaded firearm for self-defense. 

This is, of course, in addition to the certainty that minimum acceptable policies will dump my gun information into a federal database — a certainty that is reinforced by language in the summary providing for a study to “encourage increased meaningful use of electronic health records.”

Incidentally, failure to comply would subject the average family to $1,500 in fines — and possibly more for a household with older teens.  And, although a Schumer amendment purports to exempt Americans from prison sentences for non-purchase of an ObamaPolicy — something which was never at issue — it doesn’t prohibit them from being sent to prison for a year and fined an additional $25,000 under the Internal Revenue Code for non-payment of the initial fines.

Please oppose the Baucus bill.

Sincerely,

First Fidelity Reserve to Sponsor 2010 NRA Bianchi Cup

Iridium And GHL Acquisition Close Transaction

Michael Moore is an idiot, but there is hope

I just saw a preview for his latest work of crap.  Moore is out there and whats even scarrier is the fact that there are others who think like him….

But there is hope for America….  I got an email full of “Tea Party” pictures and I thought I would post one just for Mr. Moore!

Outdoor Channel Extends Agreement With Cox Communications

TEMECULA, California– Outdoor Channel Holdings, Inc. (NASDAQ:OUTD) , America’s leader in outdoor TV, has expanded its distribution agreement with Cox Communications to include three additional markets — Parma, Ohio, Las Vegas, Nevada and Hampton Roads, Virginia. Outdoor Channel will be carried on the Sports and Information tier in these markets; the network launched in Parma, Ohio on July 7th, in Las Vegas on July 28th and in Hampton Roads on July 30th.

The addition of these markets to Cox Cable Systems coincides with a multi-year agreement between Outdoor Channel and Cox Communications that renews their broader distribution relationship. The agreement strengthens the distribution partnership for Outdoor Channel’s standard definition (SD), high-definition (HD) network and video-on-demand (VOD) programming.

“Cox is a terrific partner and we are pleased to add three new markets to our existing relationship while renewing our broader distribution agreement,” said Tom Hornish, COO for Outdoor Channel. “These agreements ensure our popular hunting, fishing, shooting and adventure programs are available to Cox customers around the country for years to come.”

“We are committed to providing quality, focused programming that outdoor enthusiasts value,” said Randy Brown, Senior Vice President, Affiliate Sales and Marketing for Outdoor Channel. “We know that there is an avid base of hunters and anglers in these three Cox markets, and we are thrilled to be a part of their television experience.”

Read more

Smith & Wesson Holding Corporation Reports First Quarter Fiscal 2010 Financial Results

Record Quarterly Sales of $102 Million (+30%) 

SPRINGFIELD, Mass., Sept. 9 /PRNewswire-FirstCall/ — Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., the legendary 157-year old company in the global business of safety, security, protection and sport, today announced financial results for the first fiscal quarter ended July 31, 2009.

Net sales for the first fiscal quarter ended July 31, 2009 were $102.2 million, which was $23.8 million, or 30.3%, higher than net sales of $78.5 million for the first fiscal quarter last year. Gross profit of $35.6 million, or 34.8% of sales, for the first quarter of fiscal 2010 increased by 43.4% compared with gross profit of $24.8 million, or 31.7% of sales, for the first quarter last year. Net income for the first quarter of fiscal 2010 was $12.6 million, or $0.21 per diluted share, compared with $2.3 million, or $0.05 per diluted share, for the first quarter of fiscal 2009. Net income included a non-cash, fair-value adjustment to the contingent consideration accrual related to our acquisition of Universal Safety Response (“USR”) that increased fully diluted earnings per share by $0.05 in the current fiscal period. Adjusted EBITDAS, a non-GAAP financial measure, was $20.2 million for the first quarter, nearly double the $10.2 million in the first quarter of fiscal 2009.

Smith & Wesson President and CEO, Michael F. Golden, said, “Ongoing consumer demand for handguns and tactical rifles fueled our strong growth and allowed us to deliver record financial results in the first quarter. Higher production levels in our Springfield factory allowed us to capture additional revenue in the quarter, and a focus on controlling costs helped translate that revenue into profitability.”

To read all of it click here:

ammo shortage starting to ease?….. sure…

After almost a year, ammo shortage starting to ease in Dallas-Fort Worth.

By ANNA M. TINSLEY

atinsley@star-telegram.com

David Foster of Bedford has had a hard time all year finding ammunition for his guns.

After finding mostly empty shelves at gun stores, he finally went to a gun show a few months ago to stock up.

“I couldn’t find it anywhere except the gun show, and even there I had a hard time,” said Foster, 31. “And it cost a lot.”

But workers in the weapons industry point to signs that a nearly yearlong nationwide ammunition shortage may be winding down. More ammo is making it to store shelves now, and the price is slowly coming down.

“We’re seeing the light at the end of the tunnel,” said DeWayne Irwin, owner of Cheaper Than Dirt, a Fort Worth store and online retailer. “I’ve been doing this business since 1988, and I’ve never seen something like this happen with ammunition. But it’s not going to be like this forever.”

Demand for guns and ammo began growing last year before the November presidential election. It continued partly because many gun owners were concerned that President Barack Obama and Democrats in Congress would reinstate an assault weapons ban or drastically hike taxes on ammunition, guns and firearms materials, analysts have said.

While there hasn’t been such action in Washington, apprehension remains and is likely playing a role in prompting people nationwide to not just buy guns and ammunition, but to stock up on them as well, some gun enthusiasts say.

“It was the new politics and the fear of the unknown,” said Robert Parks, store manager at the Alpine Shooting Range in Fort Worth. “That’s what triggered this. It was the not knowing if they were going to be able to purchase handguns or be taxed more.”

Growing demand

David Acker of The Woodlands noticed months ago that some types of ammunition were increasingly hard to find.

“I couldn’t get it when I needed it,” he said recently while shopping for ammo. “So I stocked up when I found it.”

But while many say ammunition is becoming more available at least in some parts of North Texas, that’s not the case everywhere, said Alan Korwin, author of Gun Laws of America.

“In places such as New Hampshire, I’m still getting calls about their having shelves still bare there,” he said. “Distribution around the country is spotty: In some places it’s better; in some it’s worse.”

Gun enthusiasts turned out in such great numbers — both new gun owners and those who wanted to shore up their personal supplies of ammunition — that 9 billion rounds have been sold this year, up from the typical 7 billion, National Rifle Association statistics show.

“At first, so many new handgun buyers were on the scene, and this, of course, had them purchasing quantities of ammo for these handguns,” said Jerry Dean, president of The Shooters Club in Fort Worth. “Now, it seems, there may be a new rush on, which is fueled by hoarders who want at least a thousand rounds per gun, or they don’t feel comfortable.”

Gun shops nationwide boosted their ammunition orders many months ago after they saw demand growing — a move that likely caught manufacturers off-guard.

Companies such as Winchester Ammunition went to 24-hour workdays to boost production.

“Demand for our product continues to be high,” said Valerie Peters, the company’s director of human resources. “Our facilities continue to run 24/7 to meet demand. We would not be in a position to say when demand may decrease.”

Easier to find

As ammunition supplies began to dwindle, prices went up.

“The prices over the last year doubled or tripled,” said Ron Taylor, a Denton man recently shopping for ammunition.

At Cheaper than Dirt, for instance, the price for a box of 9 mm bullets that typically sells for $14.98 at one point reached $39 per box. The cost now is around $19.97, Irwin said.

Some types of ammunition — from .380-caliber bullets to the .30 carbine — are still not easy to find, gun store workers say.

But overall, prices have come down somewhat, as ammunition has become more available. And while supplies are not back to normal, they are easier to find now than earlier this year, several local gun store workers say.

In a typical week last year, Irwin said he would order — and receive — 50 cases of 9 mm ammunition. He places the same order now and “we’re lucky to get three cases,” he said. “But a month ago, we would be lucky to get one case.”

Said Korwin, “Now, almost a year later, it’s easing up. Prices are dropping almost daily, supplies are coming in, demand is lowering and stores are cutting back on orders.”

Back to normal?

Some hope that if shooters have shored up their ammo supplies and manufacturers keep working around the clock, there will be a lull long enough to replenish stocks not just in North Texas, but nationwide.

Irvin said he hopes supplies and prices continue to improve in the coming months.

“I hope we’re back to normal next year sometime,” he said.

Gander Mountain to Go Private

ST. PAUL, MINNEAPOLIS — Gander Mountain Company (www.GanderMtn.com;Nasdaq: GMTN – News), the nation’s largest retail network of stores for hunting, fishing, camping, and marine products and services and outdoor lifestyle apparel and footwear, has announced its intent to cease its public company status.

A special committee of the company’s board of directors, comprised of independent directors, has recommended, and the board of directors has approved, plans to cease the registration of its common stock with the Securities and Exchange Commission under the Securities Exchange Act of 1934. The company expects that, as a result of this deregistration, its shares of common stock will cease to be listed on the Nasdaq Global Market.

Going-Private Transaction

In order to ensure that it will be eligible to deregister its shares of common stock, in accordance with SEC rules and regulations, Gander Mountain will reduce its number of beneficial shareholders to below 300. To accomplish this, the special committee of the board recommended, and the board of directors approved, an amendment to the company’s articles of incorporation to effect a 1-for-30,000 reverse stock split of its common stock. After the reverse stock split, any shareholder holding less than one share will receive a cash payment of $5.15 for each share held prior to the reverse split. Immediately following the reverse stock split, the company will file a second amendment to its articles of incorporation to effect a 30,000-for-1 forward stock split. As a result, shareholders owning 30,000 or more shares of common stock at the time of the reverse split will retain their current numbers of shares of common stock without change and not receive cash in the transaction. The funding for the cash payment for the fractional shares described above will be provided by the company’s two largest shareholders, Gratco LLC and Holiday Stationstores, Inc.

Gander Mountain’s board of directors decided to pursue taking the company private after concluding that the disadvantages of remaining an SEC-reporting company, including the costs associated with ongoing regulatory requirements, outweighed the benefits of public company status to the company and its shareholders. Greene Holcomb & Fisher LLC, independent financial advisor to the special committee, determined that the cash-out price of fractional shares is fair from a financial point of view to those shareholders who would be cashed out in the proposed transaction.

Under Minnesota law, Gander Mountain’s board may amend its articles of incorporation to conduct the stock splits without the approval of the company’s shareholders, therefore it is not seeking the approval of the going-private transaction from our shareholders.

Once Gander Mountain becomes a private company, it intends to continue its efforts to improve operating performance and reduce its outstanding indebtedness. The company’s two largest shareholders have agreed to make an offer to purchase shares held by remaining shareholders following the going private transaction at the same price of $5.15 per share following effectiveness of the stock splits described above.

Prior to consummating the going-private transaction described above, the company must file a preliminary information statement and a transaction statement with the Securities and Exchange Commission. Following review by the SEC, the company intends to distribute a definitive information statement to its shareholders and to effect the going-private transaction as soon as practicable following the date that is 20 days after the distribution of the information statement to shareholders. The company anticipates the transaction will be completed in early 2010. If the transaction is completed, the company would no longer file periodic reports with the SEC.

The special committee and the board of directors each have reserved the right to change the terms of the proposed reverse stock split, including the split ratio, to the extent they believe it is necessary or desirable in order to accomplish the goal of reducing the number of beneficial holders to fewer than 300. The special committee may also abandon the proposed transaction at any time prior to its completion if it believes that the proposed transaction is no longer in the best interests of the company or its shareholders.

About Gander Mountain Company:

Gander Mountain Company (Nasdaq: GMTN – News), headquartered in Saint Paul, Minnesota, is the nation’s largest retail network of stores for hunting, fishing, camping, marine, and outdoor lifestyle apparel and footwear, products and services. Established in 1960, the Gander Mountain brand has offered an expanding assortment of outdoor equipment, technical apparel and footwear, as well as gunsmith and archery services. The stores feature national, regional and local brands as well as the company’s owned brands. Focused on a “We Live Outdoors” culture, Gander Mountain dedicates itself to creating outdoor memories. There are 116 conveniently located Gander Mountain outdoor lifestyle stores in 23 states and three outlet stores. Customers may also shop at www.GanderMtn.com. For the nearest store location call 800-282-5993 or visit www.GanderMtn.com. Gander Mountain is also the parent company of Overton’s (www.overtons.com), a leading catalog and Internet based retailer of products for boating and other water sports enthusiasts.

Cautionary Note Regarding Forward-Looking Statements

Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. In addition to the risk the transactions described herein will not be completed, certain of these risks and uncertainties are described in the “Risk Factors” section of the company’s Annual Report on Form 10-K for fiscal 2008 and other required reports, as filed with the SEC, which are available athttp://www.GanderMtn.com and at the SEC’s Website at http://www.sec.gov.

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