Smith & Wesson Dips After Quarterly Results Fell Shy Of Estimates

(RTTNews) - Shares of Smith & Wesson Brands, Inc. (SWBI) are down more than 20% Friday morning after the firearms maker's third quarter results missed analysts' view.

The company's net income in the third quarter declined to $30.5 million, or $0.65 per share from $62.3 million, or $1.12 per share, in the comparable quarter last year.

Excluding one-time items, earnings of $0.69 per share missed the average estimate of $0.86 per share.

Sales for the quarter declined 31% year-over-year to $177.7 million. The consensus estimate was for $198.29 million.

SWBI, that touched a new low of $13.85 this morning, is currently trading at $14.31.