Progressives are the most intolerant citizens in America. They control the media and the education system in the entire country. But they control government in less than ten states. I expect that number to fall after the 2014 midterm elections. Those of us on the right should thank the left for making their gun control agenda the focus of Obama’s second term.
Gun sales continue to rise in the U.S. Over 67 million firearms have been purchased since Obama was elected POTUS. Ammo shelf life is about an hour (when you can find it). It’s time for the gun manufacturers to get out of Connecticut, Massachusetts, Maryland and New York. They have the money to move and now is the time. Is there any other business that would toletrate having their headquarters in a state that makes it a felony to own their product?
Sturm, Ruger was founded in 1949 and is one of the nation’s leading manufacturers of high-quality firearms for the commercial sporting market. Sturm, Ruger is headquartered in Southport, CT, with manufacturing facilities located in Newport, NH and Prescott, AZ.
Ruger & Company, Inc. (NYSE-RGR) announced yesterday that for the first quarter of 2013 the Company reported net sales of $155.9 million and fully diluted earnings of $1.20 per share, compared with net sales of $112.3 million and fully diluted earnings of 79¢ per share in the first quarter of 2012.
The Company also announced today that its Board of Directors declared a dividend of 49¢ per share for the first quarter, for shareholders of record as of May 10, 2013, payable on May 24, 2013. This dividend varies every quarter because the Company pays a percent of earnings rather than a fixed amount per share. This dividend is approximately 40% of net income.
Chief Executive Officer Michael O. Fifer made the following observations related to the Company’s results:
• Our earnings increased 53% from the first quarter of 2012, driven by the 39% growth in sales and our ongoing focus on continuous improvement in our operations.
• New product introductions were a significant component of our sales growth as new product sales represented $53.3 million or 35% of firearm sales in the first quarter of 2013. New product introductions in the first quarter of 2013 included the LC380 pistol and the SR45 pistol.
• The estimated sell-through of our products from independent distributors to retailers in the first quarter of 2013 increased 12% from the first quarter of 2012. This estimated unit sell-through was effectively limited to first quarter production because distributor inventory totaled only 59,200 units at December 31, 2012. For reference, at December 31, 2011, the distributor inventory totaled 135,600 units, allowing Q1 2012 sell-through to exceed Q1 2012 production by 22%. During the first quarter of 2013, National Instant Criminal Background Check System (“NICS”) background checks (as adjusted by the National Shooting Sports Foundation) increased 46%.
Cash generated from operations during the first quarter of 2013 was $30.4 million. At March 30, 2013, our cash and cash equivalents totaled $45.6 million. Our current ratio is 1.6 to 1 and we have no debt.
In the first quarter of 2013, capital expenditures totaled $7.7 million, much of it related to new products and the expansion of production capacity. We expect to invest approximately $30 million for capital expenditures during 2013.
In the first quarter of 2013, the Company returned $7.8 million to its shareholders through the payment of dividends.
At March 30, 2013, stockholders’ equity was $111.6 million, which equates to a book value of $5.78 per share, of which $2.36 per share was cash and equivalents.
Get the hell out of Connecticut!