- Our earnings increased 77% in 2012, driven by the 50% 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 $182.0 million or 38% of firearm sales in 2012. New product introductions in 2012 included:
- the Ruger American rifle,
- the 10/22 TakeDown rifle,
- the SR22 pistol,
- the 22/45 Lite pistol, and
- the 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 fourth quarter and twelve months ended December 31, 2012 as illustrated below:
|Period ended December 31, 2012|
|Increase in estimated Ruger Units Sold from Distributors to Retailers||73%||63%|
|Increase in total adjusted NICS Background Checks||41%||28%|
- Cash generated from operations during 2012 was $87.2 million. At December 31, 2012, our cash and cash equivalents totaled $31 million, a decrease of $50 million from December 2011 due to the $87 million special dividend paid in December. Our current ratio is 1.6 to 1 and we have no debt.
- In 2012, capital expenditures totaled $27.3 million, much of it related to new products and the expansion of production capacity. We expect to invest approximately $30 million for capital expenditures during 2013.
- In 2012, the Company returned $111.5 million to its shareholders through the payment of dividends.
- At December 31, 2012, stockholders’ equity was $95.0 million, which equates to a book value of $4.93 per share, of which $1.61 per share was cash and equivalents.