Mark IV pistol recall cost Ruger $2.5 million in Q2

By Christen Smith

A Ruger Mark IV, like the the company recalled.
The Mark IV pistol recall will cost Sturm, Ruger & Company $2.5 million, the company said last week.
CEO Chris Killoy told investors Thursday Ruger resumed production of the pistols with “enhanced parts” in late June, though second quarter sales suffered as a result, coming up $5 million short of expectations.
“We are able to retrofit approximately 1,000 pistols per day and we are working through the backlog of folks that have already signed up,” he said during a conference call last week. “We thank our loyal customers for their continued loyalty to Ruger and for their patience.”
Ruger discovered a flaw with the Mark IV’s safety mechanism in early June and encouraged owners with affected guns to sign up for retrofitting.
“In particular, if the trigger is pulled while the safety levers are in an interim position partway between the ‘safe’ and ‘fire’ positions — neither fully engaged nor fully disengaged, and the trigger is pulled, the gun may not fire. It will sound like a misfire,” Mark Gurney, director of product management for Ruger, said in a video in June. “However, if the trigger is released and the safety is rotated to the full

Source: Guns.com