Our operating expenses in the quarter totaled $20 million or 14.7% of revenue versus $21 million or 22.9% of revenue last year. Thus, even though we had greater profit sharing and incentive expenses, actual SG&A costs were lower because of company-wide cost-saving efforts, as well as the timing and phasing of the selling and marketing expenses. As we focus on increasing market share, however, we do expect to see future increases on our selling and marketing expense.
Smith & Wesson Holding's CEO Discusses F1Q 2013 Results - Earnings Call Transcript
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