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BREAKING :
THE NATIONAL RIFLE ASSOCIATION IS FIGHTING BACK AGAINST A LAWSUIT FILED THURSDAY BY NEW YORK’S ATTORNEY GENERAL BY SUBMITTING ITS OWN CIVIL SUIT AGAINST THE STATE OFFICIAL, ACCUSING HER OF DEFAMATION AND VIOLATING ITS RIGHTS TO FREE SPEECH. THE NRA’S LAWSUIT WAS FILED IN THE FEDERAL COURT OF NEW YORK AND ALLEGES ATTORNEY GENERAL LETITIA JAMES “MADE THE POLITICAL PROSECUTION OF THE NRA A CENTRAL CAMPAIGN THEME” WHEN SHE WAS RUNNING FOR THE AG’S OFFICE IN 2018, AND HAS NOT TREATED THE ASSOCIATION FAIRLY SINCE.AS POLICE FORCES THROUGHOUT AMERICA LOSE FUNDING, THE INEVITABLE HAS BEGUN: PEOPLE ARE STOCKING UP ON GUNS AND AMMUNITION. BACKGROUND CHECKS PRIOR TO GUN PURCHASES HAVE SHOT UPWARD. IN JULY OF THIS YEAR, THE FEDERAL BUREAU OF INVESTIGATION PERFORMED 3,639,224 OF THESE CHECKS. IN JULY 2019, THEY PERFORMED ONLY 2,030,661. THAT’S AN INCREASE OF 79.2 PERCENT. JUNE, THE MONTH MAJOR RIOTS BEGAN SWEEPING THROUGH AMERICA, SAW AN EVEN STEEPER INCREASE. FBI DATA INDICATES 2.3 MILLION GUNS WERE SOLD IN JUNE 2020—AN INCREASE OF 145.3 PERCENT OVER JUNE 2019. MEANWHILE, POLICE IN MAJOR CITIES ARE BEING DEPRIVED OF THEIR ABILITY TO ENFORCE THE LAW.SINCE MARCH, MANY INDUSTRIES HAVE COME TO A STUTTERING HALT OR HAD TO ADJUST THEIR OPERATIONS QUICKLY TO REMAIN AFLOAT AMID COVID-19. HOWEVER, THE WEAPONS INDUSTRY, PARTICULARLY GUN OWNERSHIP AMONG BOTH WOMEN AND MEN, HAS SEEN A HUGE SPIKE AMID THE PANDEMIC AND NATIONWIDE PROTESTS. AN ESTIMATED 46.3 PERCENT OF ADULTS OWN GUNS IN ARIZONA IN 2020. WOMEN GUN OWNERSHIP ACCOUNTS FOR MORE THAN 20 PERCENT OF GUN OWNERS NATIONWIDE.AMMO SALES HAVE SURGED FOR VISTA OUTDOOR AND OLIN CORP. DURING THE COVID-19 PANDEMIC AS FEARS OF CORONAVIRUS AND CIVIL UNREST PROMPT AMERICANS TO BUY GUNS AND BULLETS. VISTA OUTDOOR CEO CHRIS METZ SAID IN AN EARNINGS CALL THURSDAY THAT STRONG AMMUNITION SALES IN THE LAST QUARTER WERE DRIVEN BY AN INDUSTRY-WIDE 40% INCREASE IN FIRST-TIME GUN BUYERS DURING THE PANDEMIC, INCLUDING WOMEN AND PEOPLE OF COLOR, BASED ON DATA FROM HE NSSF GUN INDUSTRY GROUP. HE SAID THAT AMMO DEMAND IS SO BRISK, AND FUELED IN PART BY STOCKPILING, THAT SOME NEW BUYERS HAVE COMPLAINED THAT THEY CAN’T FIND ENOUGH AMMO IN STOCK.SMITH & WESSON ANNOUNCED THAT THEY WILL BE SPINNING OFF AMERICAN OUTDOOR BRANDS IN AUGUST. THE SMALL SIZE (NEARLY MICRO-CAP) OF THE SPIN-CO RELATIVE TO THE PARENT MAY PRESENT AN OPPORTUNITY TO TAKE ADVANTAGE OF FORCED SELLING. INCENTIVES OF NEW MANAGEMENT ARE STRONG. TRADING COMPS SUGGEST THAT THE SPIN-CO MAY FETCH A HIGHER MULTIPLE THAN IT WOULD AS A PART OF SMITH & WESSON BRANDS. IT WAS ANNOUNCED FRIDAY THAT SMITH & WESSON'S (SWBI) BOARD OF DIRECTORS APPROVED THE SPINOFF OF THEIR "OUTDOOR PRODUCTS AND ACCESSORIES" BUSINESS LINE AS AMERICAN OUTDOOR

Industry Insider Archive

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.

MO – INDUSTRY INSIDER – Jimenez Arms, the Nevada-based gun manufacturer that Kansas City sued last month, has filed for Chapter 7 bankruptcy in Nevada.

The company’s bankruptcy petition listed assets of less than $50,000. That, coupled with more than $1,000,000 in outstanding liabilities, may make it difficult for Kansas City,  should it prevail in its lawsuit, to recover compensation from the company. The city sued Jimenez Arms in January, alleging the gun manufacturer was involved in a conspiracy to traffic handguns in Kansas City. The lawsuit argues Jimenez Arms created a “public nuisance”…

LA – INDUSTRY INSIDER – Scalise helps make U.S. firearms industry more competitive

Last month the Trump administration, in a move that realized a long-term goal of House Minority Whip Steve Scalise of Jefferson Parish, published an updated federal rule to modernize and streamline export controls on commercial firearms and ammunition products. This rule change, which will transition export licensing responsibility from the State Department to the Commerce Department, will level the playing field for U.S.-based sporting firearms and ammunition businesses in…

AR – INDUSTRY INSIDER – Black River Technical College approved to add gunsmithing technology course

Black River Technical College in Pocahontas was approved to add a gunsmithing technology course, according to KATV content partner KAIT Region 8 News. The program will teach manufacturing in the firearms and munitions industry, according to Dr. Martin Eppensperger who is the Black River Technical College president. Before being admitted to the course, students will have to meet certain qualifications including a federal background check, school officials said. The student…

American Gun Maker Raises $78,250 With Donation Of 126 Guns For Two Children Undergoing Cancer Treatments

Henry Repeating Arms President and Owner, Anthony Imperato, designed and donated 60 rifles for 4-year-old Beckett Burge of Princeton, Texas, and 66 rifles for 3-year-old Sadie Kreinbrink of Ostrander, Ohio to assist with the medical expenses associated with their leukemia treatments.

The firearms were sold directly through Henry Repeating Arms’ website and sold out within hours, and serial number 1 of each edition brought in a total of $8,650 at…

DC – INDUSTRY INSIDER – Trump Administration Completes Pro-Gun Regulatory Reform

Thanks to President Trump, small businesses and individual gun owners will no longer suffer the longstanding roadblocks imposed by America’s Cold War-era “export” regime for firearms, ammunition, and related accessories. The chronology of this transformation—and its relevance to Second Amendment rights—warrants some attention. Compliance became a veritable minefield. Any business hoping to manufacture the most basic component of an item on the USML was forced to register with the…

The Trump administration made it easier to export the AR-15

QZ.COM January 29, 2020 –  It will now be easier for buyers in foreign conflict zones to obtain firearms made in the US, including high-capacity semi-automatic rifles like the AR-15, short-barrel shotguns, and “.50 caliber rifles” capable of firing bullets .5 inches in diameter, under a new rule enacted by US president Donald Trump.

When a US company wants to export a…

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