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Last $14.75 USD
Change Today -0.18 / -1.21%
Volume 323.9K
As of 8:10 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

smith & wesson holding corp (SWHC) Key Developments

Smith & Wesson Holding Corporation Repays $100 Million on Revolving Line of Credit and Redemption of its 5.875% Senior Notes Due 2017

Smith & Wesson Holding Corporation announced that during its fourth fiscal quarter of 2015, the company used cash from operations to fully repay the $100 million that had been borrowed from its revolving line of credit in December 2014 when the company acquired Battenfeld Technologies Inc., leaving available the full capacity of the $175 million line of credit. The company also announced that it intends to redeem all of the $100 million principal amount of 5.875% Senior Notes due 2017 at a redemption price equal to 102.9375% of the principal amount thereof on June 15, 2015. Upon such redemption, the holders of the Senior Notes would also receive accrued and unpaid interest on the Senior Notes to the redemption date. The company intends to use bank borrowings and existing cash balances to fund the redemption of the Senior Notes.

Smith & Wesson Holding Corporation Revises Earnings Guidance for the Fourth Quarter and Full Year Ending April 30, 2015

Smith & Wesson Holding Corporation revised earnings guidance for the fourth quarter and full year ending April 30, 2015. For quarter, the company announced that it is updating expectations for its fourth quarter and full 2015 fiscal year. For the fourth quarter of fiscal 2015, the company expects net sales of between $175.0 million and $179.0 million and GAAP earnings per diluted share from continuing operations of between $0.34 and $0.36. On a non-GAAP basis, the company expects earnings per diluted share to be between $0.39 and $0.41. The company indicated that orders throughout its fiscal fourth quarter have been stronger than originally anticipated and it is therefore increasing its guidance. For full 2015 fiscal year, the company expects net sales of between $546.0 million and $550.0 million and GAAP earnings per diluted share from continuing operations of between $0.84 and $0.86. On a non-GAAP basis, the company expects earnings per diluted share to be between $0.96 and $0.98.

Smith & Wesson Holding Corporation Announces Amendments to Bylaws

On March 16, 2015, the board of directors of Smith & Wesson Holding Corporation approved and adopted amended and restated bylaws. Except for those changes described in this Item 5.03, the changes included in the Amended and Restated Bylaws consist largely of non-substantive, administrative, or procedural changes intended to reflect subsequent changes to applicable law since the date such bylaws were last adopted. The Amended and Restated Bylaws change the votes required for election of directors in uncontested elections from a plurality of votes cast to a majority of votes cast, revise the advance notice provisions to conform to applicable law, narrow the individuals eligible for mandatory indemnification and advancement of expenses to include only directors, officers, and director level or above employees and provide that any right to indemnification or advancement of expenses cannot be eliminated by amendment or otherwise after the occurrence of the act or omission for which indemnification or advancement of expenses is sought.

Smith & Wesson Holding Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended January 31, 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2015

Smith & Wesson Holding Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended January 31, 2015. For the quarter, the company announced net sales of $130,550,000 compared to $145,881,000 for the same period a year ago. Operating income was $15,699,000 compared to $31,120,000 for the same period a year ago. Income from continuing operations before income taxes was $12,763,000 compared to $29,376,000 for the same period a year ago. Income from continuing operations was $8,178,000 compared to $20,057,000 for the same period a year ago. Net income was $8,121,000 compared to $20,785,000 for the same period a year ago. Diluted net income per share was $0.15 compared to $0.36 for the same period a year ago. Non-GAAP operating income from continuing operations was $20,475,000 compared to $31,120,000 for the same period a year ago. Non-GAAP income from continuing operations was $11,187,000 compared to $20,057,000 for the same period a year ago. Non-GAAP income from continuing operations per share – diluted was $0.20 compared to $0.35 a year ago. Adjusted EBITDAS was $28,596,000 compared to $37,385,000 for the same period a year ago. For the nine months, the company announced net sales of $370,865,000 compared to $456,195,000 for the same period a year ago. Operating income was $52,303,000 compared to $107,908,000 for the same period a year ago. Income from continuing operations before income taxes was $44,496,000 compared to $97,596,000 for the same period a year ago. Income from continuing operations was $27,885,000 compared to $63,728,000 for the same period a year ago. Net income was $27,725,000 compared to $64,249,000 for the same period a year ago. Diluted net income per share was $0.50 compared to $1.04 for the same period a year ago. Non-GAAP operating income from continuing operations was $57,752,000 compared to $112,988,000 for the same period a year ago. Non-GAAP income from continuing operations was $31,318,000 compared to $66,928,000 for the same period a year ago. Non-GAAP income from continuing operations per share – diluted was $0.57 compared to $1.08 a year ago. Adjusted EBITDAS was $81,461,000 compared to $129,196,000 for the same period a year ago. Cash provided by operating activities was $29,947,000 compared to $54,225,000 for the same period a year ago. Payments to acquire property and equipment were $24,240,000 compared to $36,283,000 for the same period a year ago. For the fourth quarter of fiscal 2015, the company expects net sales to be between $162 million and $166 million and earnings per diluted share from continuing operations to be between $0.24 and $0.26.  On a non-GAAP basis, the company expects earnings per diluted share from continuing operations to be between $0.29 and $0.31. The company expects to spend another $10 million in fourth quarter. For full fiscal 2015, the company is raising its guidance and expects net sales to be between $532 million and $536 million and earnings per diluted share from continuing operations to be between $0.75 and $0.77.  On a non-GAAP basis, the company expects earnings per diluted share from continuing operations to be between $0.87 and $0.89. The company expects to spend total CapEx of approximately $34 million.

Smith & Wesson Holding Corporation Presents at UBS Global Consumer Conference 2015, Mar-05-2015 01:30 PM

Smith & Wesson Holding Corporation Presents at UBS Global Consumer Conference 2015, Mar-05-2015 01:30 PM. Venue: Four Seasons Hotel Boston, 200 Boylston Street, Boston, Massachusetts, United States. Speakers: Elizabeth A. Sharp, Vice President of Investor Relations, Jeffrey D. Buchanan, Chief Financial Officer, Principal Accounting Officer, Executive Vice President and Treasurer, P. James Debney, Chief Executive Officer, President and Director.

 

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Valuation SWHC Industry Range
Price/Earnings 15.6x
Price/Sales 1.5x
Price/Book 4.7x
Price/Cash Flow 15.2x
TEV/Sales 0.9x
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