Thompson/Center Arms Announces New Sales Organization
April 30, 2009
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The new Thompson/Center Arms Sales organization, led by MacLellan, will be responsible for ongoing sales growth efforts and for establishing accessory merchandising initiatives. As the company continues to develop high quality products, the newly formed sales organization will provide Thompson/Center with increased visibility in the marketplace and increased support for distributors and retailers.
“Having served as a National Account Manager for Smith & Wesson and having amassed 20 years of experience in sales and sales leadership, John is well qualified for this new role,” said Leland Nichols, Smith & Wesson’s Senior Vice President, Sales & Marketing. “Prior to joining Smith & Wesson, John held sales positions at both Anderson Windows and Timbron International, where he was instrumental in developing new sales tools and expanding the retail network of both companies.”
Nichols continued, “We are also excited about the addition of Dunkin-Lewis, Sportco Marketing, J Harding Associates, and our continued relationship with the Graywood Sporting Group in Canada. These companies are among the pillars of our industry. Together, they provide us with more than 70 sales representatives with centuries of cumulative sales and promotion experience in the hunting market. As the Thompson/Center product line continues to evolve and expand, the talent and market savvy that these companies bring to the team will complement our growth objectives.”
The Thompson/Center Sales organization will actively promote the company’s traditional line of hunting firearms and interchangeable firearms platforms while expanding industry awareness of the four new models introduced earlier this year. At the 2009 SHOT Show, Thompson/Center introduced four new models that expand the company’s portfolio of high-quality hunting products at various price points. New models for this year include the T/C® Venture bolt-action rifle, Thompson/Center ICON® Precision Hunter, Triumph® Bone Collector muzzleloader and ICON® bolt-action rifles in long-action calibers with Weather Shield® finish.
About Thompson/Center and Smith & Wesson
Smith & Wesson Holding Corporation is parent company to Smith & Wesson Corp., one of the world’s largest manufacturers of quality firearms and firearm safety/ security products. Smith & Wesson Holding Corporation is also the parent company to Thompson/Center Arms Company, Inc., a premier designer and manufacturer of premium hunting rifles, black powder rifles, handguns, interchangeable firearms systems and accessories under the Thompson/Center Arms brand. Smith & Wesson also licenses shooter protection, knives, apparel, and other accessory lines. Smith & Wesson is based in Springfield, Massachusetts with manufacturing facilities in Springfield, Houlton, Maine, and Rochester, New Hampshire. The Smith & Wesson Academy is America’s longest running firearms training facility for law enforcement, military and security professionals. For more information on Smith & Wesson, call (800) 331-0852 or log on to wwww.smith-wesson.com. For more information on Thompson/Center Arms, log on to www.tcarms.com.
The Outdoor Wire – Wednesday’s Industry news briefs
April 29, 2009
Rocky Brands (Nasdaq:RCKY) reports first quarter of 2009 net sales decreased to $50.1 million versus net sales of $60.5 million in the first quarter of 2008, with a net loss of $1.1 million, or ($0.20) per diluted share versus net income of $0.3 million, or $0.05 per diluted share a year ago…
SIG SAUER announces a government contract to provide pistols to the U.S. Army’s Material Command. The first order is more than 55,000 units to become the standard sidearm of the Colombian National Police….
A celebration to kickoff Maryland’s 2009 boating season will be held on Saturday, May 30, at Sandy State Park….
Tim Zink, formerly of the Theodore Roosevelt Conservation Partnership (TRCP) accepts the director of communications and marketing position for the National Fish and Wildlife Foundation. Zink will assume his new duties beginning Monday, May 4, 2009.
Birchwood Casey Acquires RIG Gun Care Products
April 29, 2009
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Birchwood Casey recently announced that effective February 27, 2009 they had acquired RIG and Bore Runner gun care products from the Fenton, Missouri based Jackson Safety Company (Silencio).
“We’re excited that Birchwood Casey will be selling the popular line of RIG gun greases and Bore Runner rods and accessories”, said Todd Binsfeld, Birchwood Casey’s Marketing Manager, Sporting Goods. “The products will continue under the RIG brand, but will be incorporated into the Birchwood Casey program”.
Products under the RIG brand include Universal Gun Grease, RIG + P Stainless Steel Lube, Cleanpower Breech Brushes and Bore Runner shotgun cleaning rods.
For more information, consumers can log onto the Birchwood Casey website at www.birchwoodcasey.com, write to 7900 Fuller Road, Eden Prairie, MN 55344-2195 or call 800.328.6156 x7933.
Mike Capps (573) 898-3422 or Todd Binsfeld (952) 937-7928
Sturm, Ruger & Company, Inc. Reports First Quarter Earnings and Declares Dividend
April 29, 2009
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The Company also announced today that its Board of Directors declared a dividend of 8.6¢ per share for the first quarter, for shareholders of record as of May 15, 2009, payable on May 29, 2009.
Chief Executive Officer Michael O. Fifer made the following comments related to the first quarter of 2009:
* The level of demand for our products during the first quarter of 2009 has been unusually high, with more than 500,000 units ordered.
* Our firearms sales grew 55.5% from the first quarter of 2008 and 8.7% from the fourth quarter of 2008.
* Our firearms unit production grew 69.3% from the first quarter of 2008 and 25.6% from the fourth quarter of 2008.
* Our backlog grew to 458,900 units and $136.3 million at the end of the first quarter of 2009, from 175,900 units and $47.8 million at the end of 2008.
* We had a successful launch of a new product platform, the LCR, our Lightweight, Compact Revolver.
* Cash generated from operations during the first quarter of 2009 was $10.4 million. At the end of the first quarter of 2009, our cash, cash equivalents and short-term investments totaled $33.9 million. Our pre-LIFO working capital of $96.4 million, less the LIFO reserve of $44.1 million, resulted in working capital of $52.3 million and a current ratio of 2.9 to 1. The Company has no debt.
* During the first quarter of 2009, capital expenditures totaled $3.7 million. We expect to invest approximately $12 million for capital expenditures during 2009.
Chief Executive Officer Michael O. Fifer issued a letter to Ruger shareholders today, discussing the market conditions, manufacturing, operating results, and the first quarter dividend. Also today, the Company filed its Quarterly Report on Form 10-Q for the first quarter of 2009. The financial statements included in this Quarterly Report on Form 10-Q are attached to this press release.
Both the Quarterly Report on Form 10-Q and the letter to Ruger shareholders on Form 8-K are available on the SEC website at www.sec.gov and the Ruger website at www.ruger.com/corporate/. Investors are urged to read the complete Form 10-Q and the letter to shareholders to ensure that they have adequate information to make informed investment judgments.
About Sturm, Ruger
Sturm, Ruger was founded in 1949 and is one of the nation’s leading manufacturers of high-quality firearms for the commercial sporting market. Sturm, Ruger is headquartered in Southport, CT, with manufacturing facilities located in Newport, NH and Prescott, AZ.
The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company including lawsuits filed by mayors, attorneys general and other governmental entities and membership organizations, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events.
Sturm, Ruger & Company (203) 259-7843
Gander Mountain Company Announces Fourth Quarter and Fiscal 2008 Results
April 28, 2009
News Release
Record Annual Revenues Exceed $1 Billion for the first time
Record Fourth Quarter Revenues of $334 Million
Record Fourth Quarter Cash Flows from Operations of $109 Million
ST. PAUL, Minn., April 22 /PRNewswire-FirstCall/ — Gander Mountain Company (www.GanderMtn.com) (Nasdaq: GMTN), the nation’s largest retail network of stores for hunting, fishing, camping, and marine products and services and outdoor lifestyle apparel and footwear, today announced results for the fourth quarter and fiscal year ended January 31, 2009. In addition, a pre-recorded call offering additional comments on the quarter will be available to all investors on the company’s Website at www.GanderMtn.com, both as a webcast and in the form of a transcript. An archived webcast and transcript will remain available on the company’s Website for approximately 90 days.
Fourth Quarter 2008:
Gander Mountain’s fiscal fourth quarter 2008 results included record consolidated sales of $334.1 million compared to consolidated sales of $317.6 million for the fourth quarter of fiscal 2007, a 5.2 percent increase.
Retail segment sales for the fourth quarter were $322.0 million, an increase of $10.0 million or 3.2 percent, as compared to the fiscal 2007 fourth quarter. Direct segment sales were $12.1 million for the quarter, compared to $5.5 million for the same quarter last year. The increase in Direct segment sales resulted primarily from the startup of the new Gander Direct internet and catalog operations in the third quarter of fiscal 2008 and the inclusion of Overton’s, acquired in December 2007, for the full quarter in fiscal 2008.
Retail segment net income in the fourth quarter was $16.6 million, which includes a $6.5 million non-cash charge for impairment of goodwill in light of current market conditions. Excluding the non-cash impairment charge, retail segment net income in the fourth quarter was $23.1 million. For the fourth quarter of fiscal 2007, retail net income was $7.0 million. The improvement resulted primarily from increased product margins and decreased SG&A costs. Direct segment net loss for the fourth quarter was $3.5 million, compared with a net loss of $1.2 million in the fourth quarter of 2007.
Consolidated net income improved to $13.0 million for the fiscal 2008 fourth quarter, including the $6.5 million non-cash charge for impairment of goodwill, compared to net income of $5.8 million for the same quarter last year. Excluding the non-cash impairment charge, consolidated net income for the fiscal 2008 fourth quarter was $19.6 million.
As reported, comparable store sales during the fourth quarter of fiscal 2008 were (0.2) percent, an improvement over (6.5) percent in the third quarter of fiscal 2008. The firearms, ammunition, seasonal hunting and footwear categories all experienced strong sales performance during the quarter. Comparable store sales were a positive 2.7 percent during the quarter, excluding the (2.9) percent impact of boats, ATV sales and power sport services, which are categories the company is in the process of exiting.
Consolidated SG&A costs, as a percentage of sales, improved 168 basis points to 20.0 percent of sales in the fourth quarter of fiscal 2008 as compared to the fourth quarter of fiscal 2007.
April 20, 2009
NSSF Bullet points
April 14, 2009
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FBI-NICS BACKGROUND CHECKS HIT 100 MILLION . . . The FBI has announced the completion of the 100 millionth instant background check since the inception of its National Instant Criminal Background Check System (NICS) 10 years ago. “We congratulate FBI-NICS on this milestone,” said NSSF President Steve Sanetti. “For 10 years and 100 million transactions, the FBI-NICS team has minimized complications and delays of firearm purchases, thereby benefiting America’s retailers, law-abiding gun owners and the general public.”
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SMITH & WESSON BACKS NEW SCHOLASTIC STEEL CHALLENGE . . . The Scholastic Steel Challenge (SSC) announced that Smith & Wesson has come on board as a major supporter of the new youth shooting program. Smith & Wesson has committed to donating 30 M&P pistols valued at over $20,000 which will be used in support packages to help new shooting teams get started in the program. The company will also offer special pricing on additional pistols to further assist teams as they grow. SSC is a national team-oriented youth program developed by the Steel Challenge Shooting Association (SCSA) and funded in part by a grant from NSSF. Read more.
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TIME MAGAZINE FEATURES STORY ON FIREARM SALES . . . It quickly became Time.com’s “most read” and “most e-mailed” story last week. Time magazine featured a story titled “Boom in Gun Sales Fueled by Politics and the Economy.” NSSF worked with the article’s author in providing information for the piece. Read the article.
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STAYING OUT OF THE CROSS HAIRS . . . ABC’s 20/20 ran a hit piece on firearms and firearms’ owners on Friday evening. NSSF was asked numerous times by 20/20 Senior Producer Muriel Pearson to participate in the story, but understanding the piece was a set-up we refused. “After pointing out to Ms. Pearson that our refusal to participate in the program did not absolve her team of their responsibility to ask hard-hitting questions of those supporting gun control, we supplied 20/20 with information on the more than 20,000 gun laws on the books and data from the Department of Justice and Bureau of Justice Statistics related to firearms,” said NSSF Director of Public Affairs Ted Novin. “Unfortunately, given 20/20′s refusal to disclose any of the information we provided — information that interfered with their already pre-established and desired anti-gun conclusion — it has become all too clear that journalistic impartiality on firearms issues at 20/20 is limited to John Stossel.”
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RISE IN GUN SAFETY COURSES MIRRORS UPSWING IN SALES . . . “Along with the rise in gun and ammunition sales, local and national gun instructors are reporting a rise in gun course participation,” reports the Augusta (Ga.) Chronicle. NSSF has seen this trend firsthand in its First Shots program, which is offered by local ranges to provide newcomers to shooting with a welcoming introduction to gun safety and the shooting sports.
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ECONOMIC IMPACT OF WATERFOWLERS . . . According to a new U.S. Fish and Wildlife Service report, waterfowl hunters spent $900 million on food, transportation, guns, decoys, hunting dogs, clothing and other goods and services in 2006. These expenditures produced more than $2.3 billion in economic output for 2006, resulting in $157 million in federal and state tax revenues, supporting more than 27,000 jobs and generating more than $8.5 million in employment income. The report notes that waterfowl hunters tend to be younger, have higher educational achievements and are more affluent compared to all hunters. The majority (74 percent) of waterfowl hunters live in the South and the Midwest. “The Economic Impact of Waterfowl Hunting in the United States” is an addendum to the 2006 National Survey of Fishing, Hunting, and Wildlife-Associated Recreation, a survey conducted every five years.
Joe’s Sports & Outdoors liquidation sales starts today
April 11, 2009
Friday, April 10, 2009
PORTLAND – Joe’s is folding its tent.
The sporting goods chain that began with an Army surplus sale in a Portland field and grew to symbolize the Northwest’s passion for outdoor recreation couldn’t find enough protection in a Delaware bankruptcy court.
Its owners hoped to restructure the business or sell the stores, but only liquidators put in bids.
Editor’s note: Holders of Joe’s gift cards are advised to use them immediately.
So the announcement came Thursday of a going-out-of-business sale at the 31 Joe’s stores in Oregon, Washington and Idaho.
The company is based in Wilsonville and employs about 1,600 people.
Gordon Brothers Group, a liquidator, offered to buy the chain and sell its $128.5 million worth of merchandise for $61 million.
The sale is to begin Friday, the liquidator said in a press release, and continue until the goods are gone.
Outdoor Channel Reups Time Warner Distribution
April 9, 2009
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The renewed affiliation agreement maintains the distribution partnership between Time Warner Cable and Outdoor Channel for the Outdoor Channel network’s standard definition and high-definition network and video-on-demand programming.
“We are excited to have reached this multi-year agreement with one of our largest distribution partners,” said Tom Hornish, COO of Outdoor Channel Holdings. “This agreement enables us to continue providing our category leading content to outdoor enthusiasts nationwide as well as drive our high-definition network and video-on-demand content.”
About Outdoor Channel Holdings, Inc.
Outdoor Channel Holdings, Inc. owns and operates Outdoor Channel, America’s leader in outdoor TV. The national network offers programming that captures the excitement of hunting, fishing, shooting, off-road motorsports, adventure and the Western lifestyle. Outdoor Channel can be viewed on multiple platforms including high definition, video-on-demand, as well as on a dynamic broadband website. For more information about the company or Outdoor Channel, please visit www.outdoorchannel.com.
Nielsen Media Research Universe Estimates for Outdoor Channel
Nielsen Media Research is the leading provider of television audience measurement and advertising information services worldwide. Nielsen estimated that Outdoor Channel had approximately 30.0 million cable and satellite subscribers for April 2009. Please note that this estimate regarding Outdoor Channel’s subscriber base is made by Nielsen Media Research and is theirs alone and does not represent opinions, forecasts or predictions of Outdoor Channel Holdings, Inc. or its management. Outdoor Channel Holdings, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information.
Nancy Zakhary (212) 739-6731
Legislature authorizes $2 million for Remington Arms
April 7, 2009
Herkimer, N.Y. -
In an attempt to show county commitment to keeping the Remington Arms plant in the village of Ilion, the Legislature on Wednesday authorized spending up to $2 million for future equipment purchases by the firearms manufacturer.
The budgetary impact of the amount serves as sufficient proof of legislator loyalty.
The size of the allocation totals roughly 25 percent of the county’s contingency fund, according to County Administrator James Wallace.
Several legislators took turns emphasizing how important it is to provide incentives for the company to maintain its facility in the county.
Herkimer County Industrial Development Agency Director Mark Feane estimated the annual economic impact at $105 million. It is hard to find another company in the entire Mohawk Valley that has that “magnitude” of impact, he said.
There are also between 12 and 15 local companies acting as “feeder groups” by providing services to Remington which would be affected if the company decided to leave, Feane added.
Al Russo, director of marketing for Remington, said in a phone interview the $2 million from the county resurfaced as part of original grant applications related to a $14 million capital project.
Aimed mainly at providing supplies and parts for the federal government and military, the project resulted in Remington hiring 100 new employees in the past year, Russo said. None of the positions are deemed temporary employment and all have been filled, Russo added.
Legislators and county officials during the meeting said they hoped the county’s $2 million would facilitate additional jobs.
Russo said there is a “possibility” the county’s “grant” could generate more jobs in the future.
The 100 recent hires, however, were not all products of investment and growth alone.
Another factor was the recent closing and consolidation of a Remington plant in Gardner, Mass., Russo said.
The plant in Ilion has already acquired or invested between $12 million and $13 million into its capital project, according to Russo.
More than $3 million of this total derived from previous grants.
An Empire State Development grant contributed $1.5 million to assist with relocation and consolidation of the Gardner plant, as stated in releases from Governor David Paterson.
The New York State Senate also provided a $1.5 million grant for capital costs.
Herkimer County also previously secured $734,000 in federal funds for the capital project through the state-administered Small Cities program grant, according to Feane.
Specifics on how Remington receives the recently approved county funds are yet to be determined.
Feane said the approach is likely to consist of county reimbursement for purchases after the company submits some form of receipt.
Legislators Bruce Weakley and John Brezinski were absent and Legislator John Piseck abstained from the vote.
