Smith & Wesson Holding (SWHC) Rose To A 3-Month High On Q4 Forecast

Smith & Wesson Holding (SWHC) announced preliminary net sales for the fourth quarter of $179 million after the close Thursday. Preliminary GAAP net income from continuing operations is expected to be approximately $0.44 per diluted share. The consensus estimates are for revenues of $170.72 million and EPS of $0.40.

The company also announced that its Board of Directors has approved the repurchase of up to $100.0 million of the company's outstanding common stock.

Smith & Wesson gapped open higher Friday, but was range-bound throughout the session. The stock closed up by 0.48 at $9.78 on above average volume and rose to a 3-month high.

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