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Smith & Wesson Holding Corporation Completes Sale Of Smith & Wesson Security Solutions Assets

SPRINGFIELD, Mass., July 27, 2012 /PRNewswire/ -- Smith & Wesson Holding Corporation (NASDAQ Global Select: SWHC), a leader in firearm manufacturing and design, today announced that it has completed the sale of substantially all of the assets and various liabilities of Smith & Wesson Security Solutions, Inc. (SWSS), a wholly owned subsidiary of the company that provides turnkey perimeter security solutions and that was reported as discontinued operations in the company's Annual Report on Form 10-K for the fiscal year ended April 30, 2012.  

Smith & Wesson had previously announced, on October 6, 2011, that it had decided to divest SWSS.  On July 10, 2012, the company announced that it had entered into an Asset Purchase Agreement with FutureNet Group, Inc. of Detroit, Michigan, to dispose of substantially all of the assets and various liabilities of SWSS.  The company completed the disposition on July 26, 2012.  The total consideration is less than $10.0 million, including proceeds from a two-year licensing agreement.

About Smith & Wesson

Smith & Wesson Holding Corporation (NASDAQ Global Select: SWHC) is a U.S.-based leader in firearm manufacturing and design, delivering a broad portfolio of quality firearms, related products, and training to the global military, law enforcement, and consumer markets. The company's brands include Smith & Wesson®, M&P™, and Thompson/Center Arms. Smith & Wesson facilities are located in Massachusetts and Maine. For more information on Smith & Wesson, call (800) 331-0852 or log on to www.smith-wesson.com.

Contacts: Liz Sharp, VP Investor Relations Smith & Wesson Holding Corp.(413) 747-3304 lsharp@smith-wesson.com

SOURCE Smith & Wesson Holding Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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