Despite a flat fourth quarter Sturm, Ruger & Company closed the fiscal year with a 21 percent increase in earnings, according to Wednesday’s filings with federal regulators.
Sales for the Connecticut gun maker slowed alongside the rest of the industry following the presidential election. Fourth quarter sales totaled $161.8 million, a marginal increase from the third and up six percent from last year.
Ruger ended the year with $664.3 million in sales and a $87.5 million profit. Annual revenue breaks down into $264.9 million in rifle sales, $250 million in pistols, $104.9 million in revolvers, $38.6 million in accessories, and $5.9 million in manufacturing services.
New products — meaning firearms introduced in the past two years — represented 29 percent, or $192.6 million, of sales, the filing shows.
Ruger reported demand for its products increased by 12 percent in 2016 as the federal background system, used as a barometer for gun sales, showed an overall increase of 10 percent.