Sturm, Ruger & Company hit by Shareholder Lawsuit
August 20, 2009
Class Action Lawsuit on behalf of certain investors in Sturm, Ruger & Company (Public, NYSE:RGR) over alleged violations of securities laws by Sturm, Ruger & Co
If you purchased Sturm, Ruger & Company, Inc. (NYSE: RGR)
between April 23, 2007 and October 29, 2007, you have certain options and there are strict and short deadlines running. Deadline: October 09, 2009. Those investors and current long term RGR investors should contact the
Foundation, Inc. at Email: mail@shareholdersfoundation.com or call us at: +1 (858) 779 – 1554. According to the complaint the plaintiff alleges that Sturm Ruger & Company, Inc. and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between April 23, 2007 and October 29, 2007 statements about Sturm Ruger & Company’s revenues and earnings, that were allegedly materially false and misleading because defendants misrepresented and/or failed to disclose the specific adverse facts. Then on October 24, 2007, when Sturm Ruger & Company, Inc announced that its firearm sales for the third quarter of 2007 fell 26%, resulting in a loss of $0.03 per share, and that sales had declined due to inventory issues at its distributors. Following this news, the price of Sturm, Ruger & Company, Inc. (NYSE: RGR) common stock fell by $6.45 per share, closing at $10.65 per share – a one-day decline of more than 37% on volume of 4.1 million shares, so the lawsuit.
Sturm, Ruger & Company, located in Southport, CT, is principally engaged in the design, manufacture and sale of firearms to domestic customers. Sturm, Ruger & Company’s design and manufacturing operations are located in the United States and substantially all product content is domestic. Sturm, Ruger & Company (Public, NYSE:RGR) reported in 2007 Total Revenue of $156.49million with a Net Income of $10.33million and in 2008 Total Revenue of $181.48million with a Net Income of $8.67million. Shares of Sturm, Ruger & Company (Public, NYSE:RGR) traded recently at $12.30 per share, down from a 52weekHigh of $15.20 per share and $20.37 per share in 2007. Those who purchased Sturm, Ruger & Company, Inc. (NYSE: RGR) common stock between April 23, 2007 and October 29, 2007, have certain options and there are strict and short deadlines running. Deadline: October 09, 2009. Those investors and current long term RGR investors should contact the Shareholders Foundation.
| Press Information: Shareholders Foundation, Inc.3111 Camino Del Rio North – Suite 423 - 92108 San Diego Contact Person: |
NSSF Bullet Points – News of Note
August 17, 2009
BACKGROUND CHECKS ON FIREARM SALES UP 8.4% IN JULY . . . Data released by the FBI’s National Instant Criminal Background Check System (NICS) reported 966,162 checks in July 2009, an 8.4 percent increase from the 891,224 reported in July 2008. This latest jump in background checks follows the release of the Firearms and Ammunition Excise Tax Collection Report by the Department of the Treasury just two weeks ago. The report noted that firearm and ammunition manufacturers paid more than $109.8 million in the first calendar quarter of 2009, up 43 percent over the same period in 2008.
EXCISE TAX REFORM GAINS ANOTHER CO-SPONSOR . . . U.S. Rep. Roscoe Bartlett (R-Md.) today agreed to co-sponsor HR 510, bringing to 80 the total number of co-sponsors in the House, with 15 currently co-sponsoring the Senate version (S. 632) of the bill. NSSF expects several more co-sponsors to sign on after Congress returns from August recess. It’s vitally important that all members of the firearms and ammunition industry urge their representatives to support this legislation, which will rectify a longstanding inequity in the frequency with which firearms and ammunition manufacturers pay a federal excise tax on the products they sell. More information.
ATK SALES UP 7.5 PERCENT, DRIVEN BY AMMUNITION . . . Sales at Alliant Techsystems rose 7.5 percent in the first quarter to $1.2 billion, driven by strong demand for commercial ammunition products, continued strength in military ammunition and new international ammunition sales, partially offset by expected lower sales in the company’s Space Systems group. Net income in the first quarter was up 28 percent to $69 million. “The strength of ATK’s commercial and military ammunition businesses, coupled with long-term opportunities in aerostructures, precision weapons, and tactical accessories will fuel ATK’s continued growth,” said Dan Murphy, chairman and CEO.
POLL: 83 PERCENT OF AMERICANS SUPPORT RIGHT-TO-CARRY . . . A new poll shows that 83 percent of Americans support right-to-carry laws, the NRA reports. The poll, conducted Zogby International and The O’Leary Report, also showed that right-to-carry crosses party lines, with 86 percent of independent voters and 80 percent of voters who are Democrats supporting right-to-carry.
Ruger teams up with Carhartt
August 17, 2009
Buy any new Ruger® bolt-action rifle between August 15, 2009 and December 31, 2009
|
Universal Safety Response Wins 2009 Business Awards
August 17, 2009
Inc. 5000 Fastest-Growing Private Companies in America Stevie Award – Most Innovative Company of the Year
FRANKLIN, Tenn., Aug. 17 /PRNewswire-FirstCall/ — Universal Safety Response (USR), a Smith and Wesson Company (Nasdaq: SWHC), and a leader in perimeter security systems, announced today that it has recently earned business awards for growth and innovation, from both local and national organizations including Inc. Magazine, and The American Business Awards.
Each year, Inc. magazine ranks the top 5000, fastest-growing private companies in the United States. USR achieved a position in the 2009 rankings, placing 852 out of a total 5,000 companies. Since debuting in 1991 with 100 of the fastest-growing private U.S. companies, then expanding the following year to the Inc. 500 and again in 2007 to the Inc. 5000, the list has served to recognize the significant accomplishments of entrepreneurial companies. More information about the Inc. 5000 Awards is available at www.inc.com/inc5000.
In June, USR was also presented with the Stevie Award for Most Innovative Company of the Year – Up to 100 Employees – All other Industries. The designation was awarded at the 2009 American Business Awards, hosted by Cheryl Casone of Fox Business Network. More than 2,600 entries from companies of assorted sizes and industries were submitted for consideration. Finalists were determined by a panel of over 200 executives from across the United States. More information about The American Business Awards and the Stevie Awards is available at www.stevieawards.com/aba.
Ken Grant, Director of Client Relations for USR, said, “On behalf of all the employees of USR, we are honored to accept these prestigious business awards. We have worked hard to secure our position as the innovator in perimeter security with customers across the nation, so we are especially proud to be recognized by these highly esteemed organizations and publications, both locally and nationally, for our accomplishments.”
In July, Smith & Wesson Holding Corporation, parent company of Smith & Wesson Corp., the legendary 157-year old company in the global business of safety, security, protection and sport, completed its acquisition of Universal Safety Response, Inc. The acquisition provides Smith & Wesson entry into the rapidly growing perimeter security market, a move aligned with the company’s growth and diversification strategy, and one that expands its reach into commercial, non-firearms categories. USR is operated as a wholly owned subsidiary of Smith & Wesson.
About Universal Safety Response
Based in Franklin, Tenn., USR is a full-service perimeter security integrator, barrier manufacturer and installer. As a Smith and Wesson Company, USR provides a complete range of products and services tailored to each client’s unique specifications. USR is proud to incorporate its core values of customer service, integrity, innovation and quality into every project. Founded in 1994, USR is the original creator of GRAB , the world’s fastest growing barrier technology. USR serves a variety of clients in the defense, transportation and petrol-chemical industries, as well as corporate facilities, airports, Fortune 500 companies, national laboratories and museums. To learn more about USR’s services and products, call (615) 224-0400 or visit www.usrgrab.com.
About Smith & Wesson
Smith & Wesson Holding Corporation, a global leader in safety, security, protection and sport, is parent company to Smith & Wesson Corp., one of the world’s largest manufacturers of quality firearms and firearm safety/security products and parent company to Thompson/Center Arms, Inc., a premier designer and manufacturer of premium hunting rifles, black powder rifles, interchangeable firearms systems and accessories under the Thompson/Center brand. Smith & Wesson licenses shooter eye and ear 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 www.smith-wesson.com. For more information on Thompson/Center Arms, log on to www.tcarms.com.
Contacts:
Anna Pizzi
apizzi@usrgrab.com
(615) 224-0400
Elizabeth Sharp
lsharp@smith-wesson.com
(480) 949-9700 x. 115
SOURCE Smith & Wesson Holding Corporation
http://www.usrgrab.com
IR Disclaimer
Buck Knives cuts pay, hours
August 12, 2009
By BRIAN WALKER
Staff writer
Posted: Thursday, Aug 06, 2009 – 11:33:46 pm PDT
Workers take 10 percent hit due to economy
POST FALLS — Buck Knives has cut employee pay to try to weather the economic downturn.
“Due to continued slowness in the economy, Buck Knives has implemented a companywide 10 percent reduction in pay and/or work hours,” C.J. Buck, president and CEO, said in a written statement. “We hope the economy is transitioning to a more robust state. However, we must prepare in case it does not.”
Phil Duckett, Buck chief operating officer, said the situation will be reviewed on a month-by-month basis.
The decision affects roughly 200 people at the company’s knife manufacturing facility in Riverbend Commerce Park. Duckett said the company has not had layoffs in several months.
After her shift Thursday, one female employee, who didn’t want to be identified, said the salary reduction is tough to swallow, especially since her husband doesn’t have a secure job, but she understands the company’s situation of being in survival mode.
“Yes, it’s hard and, no, I don’t like it,” she said. “But I think the company is just doing what it has to do for the time being. I just hope it doesn’t get worse before better. I hope we’ve hit bottom with this economy, but it’s hard to tell at this point.”
Duckett said economic woes endured by Buck’s customers have had a ripple effect on Buck.
“One of our significant customers is off-plan over 20 percent, and we have had multiple customers file for bankruptcy,” Duckett said. “(Those) are the major factors in the actions we’ve taken.”
The latest reductions come after multiple layoffs at Buck in 2008, including 23 during one round.
But, to limit the bleeding, Buck has implemented an “American Commitment” program aimed at making more knives in Post Falls and reducing offshore outsourcing.
“We are proud to say that 95 percent of our new knives for 2009 and 2010 will be made here — and all of our hunting knives are made in the USA,” Buck said earlier.
Previously, about 30 percent of the company’s products were imported.
Buck moved from San Diego to Post Falls’ Riverbend Commerce Park about four years ago, partially to cut business expenses.
Maryland Natural Resources Police Convert to Smith & Wesson M&P Pistol
August 6, 2009
SPRINGFIELD, Mass., Aug. 6 /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, announced today that the Maryland Natural Resources Police (NRP) has equipped its entire officer force with primary duty side arms from Smith & Wesson’s Military & Police (M&P) Series of advanced-design polymer pistols. The Smith & Wesson M&P40, chambered in .40 S&W, will be issued to each officer of the Maryland NRP to replace currently issued non-Smith & Wesson firearms supplied by a European-based manufacturer.
Officials at the Maryland NRP indicated that the M&P pistol incorporates several key features that are valuable for their officers, including enhanced ergonomics and ambidextrous controls. The department added that the polymer pistol’s interchangeable grip sizes and ease of maintenance, as well as the officers’ ability to disassemble the firearm without pressing the trigger were all key factors in their decision-making process.
Other full-conversion in-state police departments and agencies that have selected the M&P pistol for use in Maryland include the Charles County Police Department, the Gaithersburg Police Department, Howard County Probation, Queen Anne’s County Police Department, Seat Pleasant Police Department, St. Mary’s County Sheriff’s Office and the Greenbelt Police Department. The contract with Maryland DNR represents the first Maryland state agency that has converted to the M&P Series of pistols.
Leland Nichols, Senior Vice President of Sales and Marketing for Smith & Wesson said, “We are extremely pleased with the continued success that the M&P pistol has achieved in police departments across the nation. Contracts from sizeable state agencies such as the Maryland NRP not only provide a respected endorsement for the M&P Series, but they also allow other departments within the state the ability to access the testing and evaluation results. This often saves smaller agencies the time, expenses and manpower of conducting their own analyses.”
The M&P pistol features a Zytel polymer frame reinforced with a rigid stainless steel chassis and a through-hardened black Melonite finished stainless steel barrel and slide for durability; a passive trigger safety to prevent the pistol from firing if dropped; and a sear release lever that eliminates the need to press the trigger in order to disassemble the firearm. A loaded chamber indicator is located on top of the slide. The firearm also features an ambidextrous slide stop and a reversible magazine release, as well as an enlarged trigger guard designed to accommodate gloves. The M&P40 has a 15 + 1 capacity and the Smith & Wesson lifetime service policy is standard with each pistol. The M&P pistol series is available in 9mm, .40S&W, .357SIG, and .45ACP calibers. Compact versions of the M&P pistol are also available for concealed carry and back-up use.
Rocky Brands Announces GSA Footwear Order
August 6, 2009
Under the terms of the blanket purchase agreement, the GSA has the right to purchase approximately $29 million of these boots through July 2014. The Company has received an initial order to produce 205,000 pairs of these boots with an approximate value of $14.5 million. Shipment of this order is expected to begin in September 2009. All of these boots will be manufactured in the Company’s factory in Moca, Puerto Rico.
Mike Brooks, Chairman and Chief Executive Officer, stated, “We are very pleased to have been awarded this contract to produce high quality boots for the GSA. Importantly, production of these insulated boots will allow us to better utilize our company-operated manufacturing facility in Puerto Rico and should help reduce manufacturing costs going forward, particularly during our slower selling seasons.”
About Rocky Brands, Inc.
Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky Outdoor Gear®, Georgia Boot®, Durango®, Lehigh®, and the licensed brands Dickies®, Michelin® and Mossy Oak®.
Ammo Shortage on CNN video
August 2, 2009
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.
