Posted May 9, 2018 2:00 pm by Comments

By Tom Knighton

When you talk about American gun companies, the name Ruger is going to come up. Ruger has made guns that Americans have clamored for over the years. As a result, it has become one of the giants of the American firearm industry.

But it’s safe to say it’s not having a good run right about now.

Sturm, Ruger and Company’s sales tanked in its first quarter, according to regulatory filings published this week.

Net sales topped $167.4 million through March 31 — a 22 percent decline over last year. The gun maker blamed “unfavorable de-leveraging of fixed manufacturing costs due to the decline in production volume” in a news release Tuesday. The gun maker will host a conference call with shareholders Wednesday.

Sales of new products introduced within the last two years — the Pistol Caliber Carbine, the Mark IV pistol, the LCP II pistol, the EC9s pistol, the Security-9 pistol, and the Precision Rimfire Rifle — generated $37.2 million, representing just under one third of the company’s total firearm sales.

The dismal earnings come three months after Chief Executive Officer Chris Killoy told investors the company cut 700 positions, reducing its workforce by 28 percent.

Those cuts were supposed …Read the Rest

Source:: Bearing Arms

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