Winchester Profits Dip despite Recovering Sales
Revenues at the Olin Corp.-owned ammunition maker increased 10% to $447.6 million from $406.0 million, driven by its growing military business; however, segment operating income plunged 64% to $25.0 million from $70.3 million. Profitability was impacted by rising raw material costs, including propellant and commodity metals, as well as the lower margin military sales. Commercial ammo sales continued to contract, with growing retail stocks ... Log in to view full article.
