Net income contracted 74% to $2,498,000 in the fiscal second quarter ended Oct. 31 from $9,648,000 a year ago, despite 3% higher revenues of $124,958,000 up from $121,035,000. Inventory at quarter end was $163.3 million, down 8% from the start of the fiscal year and 17% lower year-over-year. Channel inventories were also lower, SWBI said, indicating robust sell through that outperformed NSSF-adjusted NICS checks for the period by over 7%, indicating a pick up of market share.

Handgun sales were down 5% to ... Log in to view full article.