Firearms maker Sturm, Ruger & Co. Inc. (RGR) Wednesday reported an increase in profit for the fourth quarter. The Southport, Connecticut-based company's fourth quarter profit was $1.00 per share, compared to $0.54 per share in the same quarter last year.
On average, three analysts polled by Thomson Reuters expected the company to earn $0.94 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, total revenues for the quarter grew to $141.8 million from $93.2 million in the prior-year quarter.
In addition, the company said that its Board has declared a variable dividend of 40.4 cents per share for the fourth quarter, payable on March 22, to holders on March 8, 2013. The company added that the current dividend represented about 40% of the net income.
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