Smith & Wesson raises revenue target

Gun maker Smith & Wesson Holding Corp. said today that it expects full-year 2007 sales to come in roughly $6.4 million ahead of a previous forecast.

For the fiscal year, the Springfield company is projecting sales of $225 million, up from a previous forecast for $218.6 million, driven by sales of its M&P pistol and tactical rifle product lines. The company said it doesn't expect to see significant federal government purchasing activity in the fourth quarter, as the Defense Department budget debate continues in Washington now that control of Congress has changed hands.

Net income for the year is now expected to come in at $12 million, or 29 cents per share, up 38 percent from 2006. The outlook includes about $5 million of purchase accounting charges related to the January acquisition of Thompson/Center Arms, a New Hampshire-based designer, manufacturer and marketer of hunting firearms.

Analysts expect profit of 30 cents per share on $214.5 million in revenue for 2007, according to a Thomson Financial survey.
(AP)