In its Feb. 2 press release, Olin Corp. reported Winchester’s fourth quarter 2015 sales were $156.7 million, compared to $147.2 million in the fourth quarter of 2014. The increase in Winchester segment sales were attributed to increased shipments to commercial customers.
The year ended with $711.4 million in total sales, approximately $27 million less than in 2014, with the difference attributed to the ongoing relocation of manufacturing operations from Illinois to Mississippi. Relocation is expected to be completed by the first half of 2016 and is projected to save the company an estimated $40 million annually due to lower overall manufacturing cost.
“At the business level we expect Winchester’s first quarter 2016 earnings to improve compared to both the fourth quarter of 2015 and the first quarter of 2015,” said John Fischer, Olin’s chief operating officer, during a conference call with investors.
On January 29, 2016, Olin’s Board of Directors declared a dividend of $0.20 on each share of Olin common stock. The dividend is payable on March 10, 2016 to shareholders of record at the close of business on February 10, 2016. It will mark the 357th consecutive quarterly dividend to be paid by the Company.
In other Winchester Ammunition business news, this week the U.S. Army announced the company was awarded a $99,200,000 firm-price economic price adjustment, indefinite-delivery/indefinite-quantity contract for .38- and .45-caliber and 9 mm ammunition.
According to the contract, one bid was solicited with one received, with an estimated completion date of March 9, 2022. Funding and work location will be determined with each order. Army Contracting Command, Rock Island Arsenal, Illinois, is the contracting activity.