Shares of Smith & Wesson Holding Corp. (SWHC) are higher in pre-market trading on Friday, boosted by earnings news released the previous evening.
The stock is trading at $4.95 at about 8:45 am Eastern Time, up from Thursday's close of $4.59. This takes the stock to its highest level since last September.
posted third quarter net income of $2.4 million or $0.05 per share, compared to a net loss of $1.8 million or $0.04 per share in the comparable quarter last year. Adjusted net income for the quarter was $9.2 million, compared to $3.7 million in last year quarter.
On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.02 per share. Analysts' estimates typically exclude special items.
Net product sales for the period were $83.2 million, compared to $66.06 million in the same period last year. Six Wall Street analysts expected revenues of $74.08 million.
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