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article imageFirearms manufacturer Smith & Wesson has record sales

By Owen Weldon     Jun 26, 2013 in Business
Gun manufacturer Smith & Wesson Holding Corp. reported its fourth quarter sales on Tuesday amid a surge in demand for firearms.
The company, based in Springfield, Mass., said that even though it continued to increase its production capacity, it was still not able to meet the demand across most of their product lines, which resulted in additional growth, according to BusinessWeek.
According to Fox, the company said that last quarter it earned $25.17 million, compared to $12.47 million just a year earlier.
According to Wall Street Journal, Smith & Wesson's gross margin rose from 36.1% to 38.3%.
On Tuesday's close, the company's stock went up by 45% in the past 12 months.
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