Ruger’s 2Q earnings up 19 percent

08/3/16 3:28 PM | by

Sturm, Ruger & Company’s sales this fiscal year follow the same trend as indicators for gun sales overall, according to the Connecticut company’s quarterly filing released Wednesday.

Second quarter earnings jumped 19 percent from last year, putting sales at $140.1 million and $341.1 million six months into the year.

Mike Fifer, Ruger’s chief executive officer, credits the increase in industry demand, demand for new products, and an increase in production.

The industry’s key indicator for gun sales, the federal background check system, showed an increase of 15 percent for total checks in the past four months.

According to figures published by the National Instant Criminal Background Check System, six months in, 2016 has netted 32 percent, or 3.4 million, more checks than 2015 and continuing a pace for the biggest year on record.

New guns — meaning products released in the past two years — made up 33 percent of total Ruger guns sold. For the quarter, that came out to $53 million.

Competitor Smith & Wesson has also maintained a healthy balance sheet so far this calendar year. The Massachusetts company closed out its last quarter 22.2 percent up from last year, raking in $221 million.

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