Quarterly Firearm and Ammunition Excise Taxes Up 43%
July 31, 2009
NEWTOWN, Conn., July 31 /PRNewswire-USNewswire/ — During a time period of great economic uncertainty, firearm and ammunition sales have continued to increase throughout the country.
According to the most recent Firearms and Ammunition Excise Tax Collection Report, released earlier today by the Department of the Treasury, firearm and ammunition manufacturers paid more than $109.8 million in the first calendar quarter of 2009; up 43% over the same time period reported in 2008.
This dramatic increase follows a 31.3 percent increase in excise taxes from the previous quarter (4Q, 2008) and eight straight months of increased FBI background checks – another strong indicator of firearm sales.
A third reliable source, the National Sporting Goods Association (NSGA), reported that in 2008, “Hunting and Firearms” equipment was the only category to grow double digits and only one of seven categories that exhibited growth. NSGA’s forecast for 2009 shows “Hunting and Firearms” as one of only two categories to exhibit growth.
Manufacturers of firearms and ammunition pay a federal excise tax — a major source of wildlife conservation funding — on all firearms and ammunition manufactured (11% on long guns and ammunition and 10% on handguns).
This latest excise tax report, which covers the time period of January 1, 2009 through March 31, 2009, shows that $33.0 million was collected in taxes for pistols and revolvers, $38.9 million for long guns and $37.8 million for ammunition. Compared to the same quarter in 2008, collections were up 65.5% for handguns, 42.9% for ammunition and 28.3% for long guns.
Translation to sales:
Using the latest collections as an indicator of sales, a projection of $1.03 billion was generated in the first quarter (calendar year) of 2009. Please keep in mind that although excise taxes are one of the best indicators of industry performance, they only report what the manufacturers paid in taxes and do NOT reflect retail mark-up and final retail sales.
Pistols and revolvers: $33,043,554.83 / .10 = $330,435,548.30 = $330.4 million for handguns
Long guns: $38,979,972.16 / .11 = $354,363,383.27 = $354.3 million for long guns
Ammunition: $37,846,038.52 / .11 = $344,054,895.64 = $344.0 million for ammunition
Total estimation for the quarter: $1.028 billion
| SOURCE National Shooting Sports Foundation |
Cabela’s profit tops expectations
July 31, 2009
CHICAGO, July 30 (Reuters) – Outdoor gear retailer Cabela’s Inc (CAB.N) posted a bigger-than-expected 25 percent increase in quarterly profit, helped by cost-cuts and demand for hunting equipment, sending its shares to their highest in almost two years.
The company also raised its 2009 revenue outlook and said earnings for the year could top last year’s earnings.
“These guys had what appears to be a fantastic quarter,” Feltl and Co analyst Mark Smith said, citing strength across all segments, especially the hunting equipment category, and better-than-expected results within the credit card business.
“The fact that they’re talking about ‘if this momentum continues we’ll see earnings growth’ is very good news for investors,” added Smith, who has a “buy” rating on the stock.
Cabela’s sells gear and apparel for fishing, hunting and other outdoor activities in stores, through its catalog and on the Web. In recent quarters, sales of firearms and ammunition have given results a boost, but charge-offs at its financial services arm have cut into profit.
Outdoor Channel Holdings to Host 2009 Second Quarter Conference Call on August 4
July 30, 2009
| TEMECULA, Calif., July 29 /PRNewswire-FirstCall/ — Outdoor Channel Holdings, Inc. (Nasdaq: OUTD) today announced that management will host its regular quarterly investor conference call at 2 p.m. PDT (5 p.m. EDT) on Tuesday, August 4, 2009, to review the financial results for its 2009 second quarter ended June 30, 2009.
Investment professionals are invited to participate in the live call by dialing 866-713-8310 (domestic) or 617-597-5308 (international) and using participant passcode 95894795. The call will be open to all other interested parties through a live, listen-only audio Internet broadcast in the Investor Relations section of the company’s Web site, www.outdoorchannel.com. For those who are not available to listen to the live broadcast, the call will be archived online for one year. A telephonic playback of the conference call also will be available through Tuesday, August 11, 2009, by calling 888-286-8010 (domestic) or 617-801-6888 (international) and using participant passcode 57390283. |
Sturm, Ruger & Company, Inc. Reports Second Quarter Earnings of 46¢ Per Share and Declares Dividend of 12.3¢ Per Share
July 30, 2009
July 29, 2009
Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that for the second quarter of 2009, the Company reported net sales of $72.4 million and earnings of 46¢ per share, compared with sales of $38.7 million and earnings of 5¢ per share in the second quarter of 2008.
For the six months ended July 4, 2009, net sales were $135.9 million and earnings were 76¢ per share. For the corresponding period in 2008, net sales were $81.2 million and earnings were 12¢ per share.
The Company also announced today that its Board of Directors declared a dividend of 12.3¢ per share for the second quarter, for shareholders of record as of August 14, 2009, payable on August 28, 2009. The amount of the dividend was based on a percentage of Operating Profit after adjustment for certain items, the same approach used by the Company last quarter when it declared its first dividend in over three years. Under this approach, the amount of the quarterly dividend fluctuates directly with certain operating results of the Company.
S&W earns both “Rifle and Manufacturer of the year”
July 29, 2009
SPRINGFIELD, Massachusetts— Smith & Wesson Corp., announced today that it has received top awards in two categories from the Shooting Industry Academy of Excellence. Smith & Wesson was named the “Manufacturer of the Year” and also received the “Rifle of the Year” award for the company’s M&P15 MOE (Magpul Original Equipment) tactical rifle.
Scientists to investigate wind power impacts on migratory wildlife
July 29, 2009
Racine, WI & Ithaca, NY -Thirty top wildlife scientists have announced agreement on some of the highest research priorities to help America’s rapidly growing wind energy industry produce much-needed alternative energy-while also providing safe passage for birds and bats. This coalition of scientists from industry, government, nongovernmental organizations, and universities met recently in Racine, Wisconsin, to address unanswered questions about how continued wind energy development will affect migrating birds and bats. The meeting was hosted by the Cornell Lab of Ornithology, the American Bird Conservancy, and The Johnson Foundation at Wingspread.
“We see great potential in wind energy for addressing global climate change and reducing America’s reliance on fossil fuels,” said Dr. Michael Fry of the American Bird Conservancy. “It’s critical we act now to understand the interactions between wind energy installations and birds and bats.”
“What are you buying”?
July 28, 2009
A friend sent me this email today……
I called my stockbroker today and asked, “What are you buying”?
His answer: “Canned goods and ammunition”.
Mossy Oak and Outdoor Channel Continue Partnership
July 28, 2009
TEMECULA, CA– Outdoor Channel Holdings, Inc. (NASDAQ:OUTD) , America’s leader in Outdoor TV, today announced that it has entered into a multi-year strategic partnership with Mossy Oak, creators of the Mossy Oak Brand Camouflage and producers of some of television’s most highly regarded hunting programs, including one of the top-rated shows on Outdoor Channel “Hunting the Country.”
Smith and Wesson on CNBC
July 25, 2009
A solar powered treestand…..
July 20, 2009
Yes I had a dream.
No wait, actually I was thinking of powering my house with solar energy. But as I was dreaming of going off the electrical grid, I drifted off to a paradise hunting club with solar powered everything. Since I live in Georgia where its almost to hot to hunt half the season, I was dreaming of an air conditioned treestand. An aerial penthouse built for observational comfort while waiting for the perfect moment to showcase my extreme marksmanship…….. hey, am I still dreaming…..???
- solar powered treestand
OK back to business.
