Smith & Wesson Shatters $1 Billion Sales Barrier for the First Time

by
posted on June 22, 2021
smith-wesson-sets-sales-record.jpg

Smith & Wesson sales for a 12-month period exceeded $1 billion for the first time in company history, according to figures released last week in the firm’s “Fourth Quarter and Full Year 2021 Financial Results” report. Part of the profit is going to employees, who rose above the pandemic’s variety of challenges and raw material slowdowns to make the record possible. 

“And earlier today, we announced to our employees that this year, we will be distributing over $14 million to eligible employees, which will be 15 percent of each employee's annual wages,” Mark Smith, Smith & Wesson president and CEO said during a June 17 earnings call with investors and stock analysts.

“In addition, the company achieved a very significant milestone in fiscal 2021, surpassing $1 billion in sales for the first time in our 169-year history. As I said, this would not have been possible without all of our employees. And so, in recognition of this milestone, we will also be awarding every employee who is not eligible for our management bonus program a special bonus of $1,200 for a full-time employee and $600 for temporary workers, prorated for the month of service during the fiscal year and to be paid next Thursday, June 24.” 

The company’s official fiscal year 2021 ended April 30, 2021, and, according to the report net sales for the period came in at $1.1 billion. That represents an increase of 100 percent when compared to the same period the previous reporting year—when net sales came in at $529.6 million.

“The results of the past year, in spite of the unthinkable challenges that we faced as a nation and as a company, are a tremendous testament to the resolve of our dedicated employees, the power of the Smith & Wesson brand, and the strength of the partnerships we have with our customers,” Smith said.

“Our employees more than doubled the prior year sales, passed a milestone of $1 billion in revenue, and by every financial and operating metric, have delivered the most successful year in the 169-year history of the company. But most importantly, we have set a rock-solid foundation for the long-term success of the company, with astounding market share growth.”

 

Latest

B5 Systems CAR-15 Furniture
B5 Systems CAR-15 Furniture

First Look: B5 Systems CAR-15 Furniture

Quality AR parts for your retro build.

Skills Check: Five-Stage Drive

Consistency is the holy grail of shooter development. Working to forge repeatability into each subcomponent of the shooting process contributes to overall consistency.

First Look: Lone Star Armory GWOTX4

Created as a tribute to the military personnel who served in recent conflicts overseas.

Which Shotgun Safety Is Best?

Don’t get caught up in the safety dance; learn how to effectively operate your shotgun’s safety.

First Look: Ed Brown Kobra Carry Dual Caliber 1911

Easily Ed Brownchange your 1911 to suit your needs.

Jim Cirillo’s 1-2-3-6 Drill

Learn the lessons of a master gunfighter.

Interests



Get the best of Shooting Illustrated delivered to your inbox.