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INT’L – INDUSTRY INSIDER – ‘Essential’ gunmaker Taurus stays open as coronavirus shutters Brazil

Brazilian gunmaker Taurus SA said on Monday it would continue manufacturing firearms after the government decided its functions are “essential,” even as the country shuts down to stop the spread of coronavirus. Taurus, whose weapons are used by police officers across Brazil and sold in the U.S. market, said in a filing that the government had classified it as a Strategic Defense Company. Shares in the gun manufacturer have…

US Gun Industry Groups Urge Lawmakers To Keep Gun Shops Open

THEGUARDIAN.COM  March 26, 2020 – US gun industry groups are engaged in an intense attempt to persuade state and federal lawmakers that gun shops should be considered “essential” businesses during the coronavirus crisis, and therefore allowed to stay open.

The National Shooting Sports Foundation (NSSF), one of the largest US pro-gun ownership groups, told its members this week it had…

MA – INDUSTRY INSIDER – Coronavirus shutdown doesn’t close Springfield Smith & Wesson plant; gunmaker donates eye protection to Baystate Health

SAYING IT IS “CRITICAL INFRASTRUCTURE FOR THE UNITED STATES AND THE COMMONWEALTH,” GUNMAKER SMITH & WESSON IS KEEPING ITS MANUFACTURING PLANTS, INCLUDING THE SPRINGFIELD FACTORY, OPERATIONAL DURING GOV. CHARLIE BAKER’S ORDER CLOSING “NONESSENTIAL” BUSINESSES ACROSS THE STATE.

INT’L – INDUSTRY INSIDER – SIFA Bites Back After Another Big Bank Closes a Firearms Industry Account

There have been more stories this week of big banks closing the accounts of businesses in the firearms industry. SIFA has responded by going into bat for these small businesses as it sets a dangerous precedent. The Shooting Industry Foundation of Australia takes this behaviour most seriously and will be taking legal advice immediately to protect the business interests of Licensed Australian Firearms Dealers. The Weekly Times has run two stories in…

NAT’L – INDUSTRY INSIDER – Gun Company Stocks Rebound as Coronavirus Sends Market Tumbling

Business closures and lockdowns have dealt withering blows to the economy since the novel coronavirus first emerged as a global threat, causing stocks to tumble. But after initially sliding along with the rest of the market, publicly traded gun companies have rebounded decisively. Since March 10, panic buying of guns and ammunition has helped drive a steep rise in stock prices for American Outdoor Brands, the parent company of Smith &…

AR – INDUSTRY INSIDER – Firm customizes Sig Sauer pistols

WILSON COMBAT IS WORKING WITH SIG SAUER TO OFFER UPGRADES TO TWO OF SIG'S MOST POPULAR PISTOLS. THIS ISN'T THE FIRST TIME CUSTOM GUN-MAKER WILSON COMBAT HAS OPERATED IN CONJUNCTION WITH TOP GUN COMPANIES. IN 2016, WILSON BEGAN TO OFFER CUSTOMIZED VERSIONS OF BERETTA'S POPULAR M92 PISTOL, AND IN 2017, THE COMPANY BEGAN TO OFFER CUSTOM WORK AND PART UPGRADES FOR FIREARMS STALWART GLOCK.

NAT’L/INT’L – INDUSTRY INSIDER – Firearm Export Control Reforms Take Effect Today

After a decade long push by the NSSF, the final rules for the USML to CCL transition (formerly called Export Control Reform Initiative) will take effect today – Monday, March 9, after a federal court in Seattle ruled in NSSF’s favor of a preliminary injunction, narrowly limited to 3D Printing technology. The efforts of the 23 states attorneys general who sued to enjoin implementation of the final rules in their entirety…

MA – INDUSTRY INSIDER – Smith & Wesson Parent Shoots Wide of the Mark in Q3

AS AMERICAN OUTDOOR BRANDS (NASDAQ:AOBC) HEADS TOWARD A SPLIT INTO TWO COMPANIES LATER THIS YEAR, THE FIREARMS AND OUTDOOR GEAR MANUFACTURER MISFIRED WITH ITS FISCAL THIRD-QUARTER EARNINGS REPORT. BOTH SALES AND PROFITS CAME IN LOWER THAN EXPECTED, AND THE OUTLOOK FOR THE FOURTH QUARTER -- AND POSSIBLY ANOTHER QUARTER OR TWO AFTER THAT -- WAS NOT PROMISING. EVEN THOUGH THE END MARKETS OF BOTH BUSINESSES SEEM ROBUST, THAT DID NOT HELP AMERICAN OUTDOOR THIS PERIOD. FIREARMS SALES IN THE THIRD QUARTER CAME IN AT $127.4 MILLION, A 3% INCREASE YEAR OVER YEAR, BUT THAT WAS ONLY BECAUSE THE COMPANY BENEFITED FROM CHANGES IN WHEN IT HAS TO PAY ITS FEDERAL EXCISE TAXES.

INT’L – INDUSTRY INSIDER – 70 years after Independence, England’s Webley and Scott to make guns in India for civilians

Famed British firearms maker Webley and Scott (W&S) will soon be arming citizens of India, marking a radical shift in the production and sale of firearms for civilians in the country. Founded in 1790, W&S armed allied forces in the two World Wars and produced weapons for at least 15 countries. India’s police force, too, used the iconic W&S .38 caliber revolver as a standard sidearm till the early…

MA – INDUSTRY INSIDER – Smith & Wesson parent AOBC announces earnings, fails to meet Wall Street expectations

American Outdoor Brands Corp., the parent company of Springfield icon Smith & Wesson, failed to meet earnings and revenue expectations, according to a quarterly report released Thursday after the close of the stock market. The company’s stock — AOBC on the NASDAQ — fell by more than $2 a share in after-hours trading. American Outdoor Brands reported net income for its third quarter — the three months ending Jan. 31 —…

NAT’L – INDUSTRY INSIDER – Will Discounting Hit Smith & Wesson in Q3?

AMERICAN OUTDOOR BRANDS (NASDAQ:AOBC) WILL HAVE A LOT GOING ON WHEN IT REPORTS FISCAL THIRD-QUARTER EARNINGS THIS WEEK. NOT ONLY IS IT TRYING TO TURN AROUND ITS FIREARMS BUSINESS AT THE SAME TIME THAT IT'S SPINNING OFF THE DIVISION, BUT IT ALSO OUSTED ITS CEO FOR UNDISCLOSED MISCONDUCT, WHICH THROWS THE WHOLE SITUATION INTO CONFUSION.

CT – INDUSTRY INSIDER – Ruger ends 2019 with another drop in sales and profits

STURM, RUGER & CO. CUT ITS WORKFORCE AND PRODUCTION IN 2019 AMID FALLING SALES AND STILL ENDED UP WITH A $1-PER-SHARE DECLINE IN PROFITS IN 2019, THE COMPANY REVEALED LAST WEEK IN ITS ANNUAL FILING WITH THE SECURITIES AND EXCHANGE COMMISSION. CEO CHRISTOPHER KILLOY BLAMED COMPETITORS’ CUTTHROAT PRICING AND BANKRUPT DISTRIBUTORS FOR THE COMPANY’S SECOND STRAIGHT YEAR OF DECLINING SALES SINCE THE GUN-BUYING SPREE THAT SURROUNDED THE 2016 ELECTION.

Gunmakers Battle ‘Trump Slump’ With a Softer Sales Pitch

NEW YORK TIMES February 23, 2020 – It was like any other convention in this city of neon and slot machines, except for all the guns.

At the Shot Show, an annual gathering of the firearms industry in Las Vegas, flash drives shaped like military rifles were handed out. Influencers with large followings on Instagram and TikTok posed for selfies,…

CT – INDUSTRY INSIDER – Treasurer’s plan to divest from the firearms industry doesn’t address real solutions

Connecticut’s Treasurer Shawn Wooden is cashing out for political platitudes at the expense of the state’s taxpayer with his plan to divest state assets from the firearms industry.

SD – INDUSTRY INSIDER – Boyds Gunstocks ownership changes hands to two longtime employees

Two longtime employees who have been a vital part of the success of Boyds Hardwood Gunstocks will be carrying on that tradition as the new owners. After nearly four decades of running the gun stock business that he founded in 1981, Randy Boyd, former owner of Boyds Gunstock in Mitchell, has passed the torch to his son-in-law, Rob Carstensen, and longtime employee, Dustin Knutson. The duo became owners in…

CT – INDUSTRY INSIDER – Ruger finishes fiscal 2019 with continuing sales slump, lower profit; gun-maker has manufacturing plant in Madison

ANOTHER QUARTER OF SHARP DECLINE IN GUN SALES CONTRIBUTED TO STURM, RUGER & CO. FINISHING FISCAL 2019 ON A DECIDEDLY DOWN NOTE WEDNESDAY. THE COMPANY REPORTED A 37.7% DROP IN FOURTH-QUARTER NET INCOME TO $24.1 MILLION. DILUTED EARNINGS FELL 36.2% TO 44 CENTS PER SHARE. THERE WERE NO EARNINGS FORECASTS FROM ZACKS INVESTMENT RESEARCH. THE FULL-YEAR PERFORMANCE WAS SLIGHTLY BETTER: NET INCOME DECREASED BY 36.6% TO $32.3 MILLION, WHILE DILUTED EARNINGS WERE DOWN 37.1% TO $1.81.

FL – Industry insider – DeLand ‘ghost gun’ firm cleared in wrongful prosecution trial

A jury concluded that the DeLand gun parts maker did nothing wrong when it asked an employee who was also a sheriff’s deputy to initiate an investigation in an alleged trade secrets theft by the two former workers. Two ex-employees sued a DeLand “ghost gun” manufacturer with strong ties to law enforcement, claiming the DeLand gun kit maker used its law enforcement ties to initiate a criminal investigation and…

CT – INDUSTRY INSIDER – NSSF Files to Intervene in Federal Lawsuit

THE NATIONAL SHOOTING SPORTS FOUNDATION FILED A MOTION IN THE U.S. DISTRICT COURT, WESTERN DISTRICT OF WASHINGTON IN SEATTLE TO INTERVENE IN A LAWSUIT FILED BY 23 STATE ATTORNEYS GENERAL TO BLOCK TWO RECENTLY ANNOUNCED RULES BY THE TRUMP ADMINISTRATION. THE RULES CHANGES WOULD CREATE JOBS AND REDUCE ONEROUS AND COSTLY REGULATIONS ON SMALL BUSINESSES. WASHINGTON ATTORNEY GENERAL BOB FERGUSON, AND 22 OTHER STATE ATTORNEYS GENERAL, ARE SUING TO HALT EXPORT REFORMS DUE TO GO INTO EFFECT MARCH 9 FOLLOWING THE FINAL RULES MOVING EXPORT LICENSING OF SPORTING AND COMMERCIAL FIREARMS AND AMMUNITION PRODUCTS TO THE COMMERCE DEPARTMENT FROM THE STATE DEPARTMENT.

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