This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sturm, Ruger & Company, Inc. Reports Third Quarter 2012 Fully Diluted Earnings Of 88¢ Per Share

Sturm, Ruger & Company, Inc. (NYSE: RGR), announced today that for the third quarter 2012, the Company reported net sales of $118.2 million and fully diluted earnings of 88¢ per share, compared with net sales of $80.5 million and fully diluted earnings of 56¢ per share in the third quarter of 2011.

For the nine months ended September 29, 2012, net sales were $350.1 million and fully diluted earnings were $2.58 per share. For the corresponding period in 2011, net sales were $235.6 million and fully diluted earnings were $1.55 per share.

The Company also announced today that its Board of Directors declared a dividend of 38.2¢ per share for the third quarter, for shareholders of record as of November 12, 2012, payable on November 26, 2012. This dividend varies every quarter because the Company pays a percent of earnings rather than a fixed amount per share. Effective with the dividend paid in March 2012, the Company increased the percent of quarterly earnings paid out as dividends by 67%. This dividend is approximately 40% of net income.

Chief Executive Officer Michael O. Fifer made the following comments related to the Company’s results:
  • Our earnings increased 62% from the third quarter of 2011, driven by the 47% growth in sales and our ongoing focus on continuous improvement in our operations.
  • New product introductions were a significant component of our sales growth as new product sales represented $130.3 million or 38% of sales in the first nine months of 2012. New product introductions in the first nine months of 2012 included:

    • Ruger American Rifle
    • SR22 pistol
    • 10/22 Takedown rifle
    • 22/45 Lite pistol
    • Single-Nine revolver
  • Demand for our products outpaced the growth in overall industry demand as measured by the National Instant Criminal Background Check System (“NICS”) background checks (as adjusted by the National Shooting Sports Foundation) for both the third quarter and nine months ended September 29, 2012 as illustrated below:
                            Period ended September 29, 2012
Q3 Nine months

Increase in estimated Ruger Units Soldfrom Distributors to Retailers

62%

60%
 

Increase in total adjusted NICSBackground Checks

22%

21%
  • Cash generated from operations during the nine months ended September 29, 2012 was $61.8 million. At September 29, 2012, our cash, cash equivalents, and short-term investments totaled $105.1 million, an increase of $24 million from December 2011. Our current ratio is 3.2 to 1 and we have no debt.
  • In the first nine months of 2012, capital expenditures totaled $20.3 million, much of it related to new products and the expansion of production capacity. We expect to invest approximately $25 million for capital expenditures during 2012.
  • In the first nine months of 2012, the Company returned $17.5 million to its shareholders through the payment of dividends. An additional $7.3 million in dividends will be paid to shareholders on November 26, 2012.
  • At September 29, 2012, stockholders’ equity was $174 million, which equates to a book value of $9.08 per share, of which $5.49 per share was cash and equivalents.

Today, the Company filed its Quarterly Report on Form 10-Q for the third quarter of 2012. The financial statements included in this Quarterly Report on Form 10-Q are attached to this press release.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs