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Ruger releases 2013 net sales.

Ruger announced in late February its net sales for 2013 were $688.3 million, resulting in earnings of $5.58 per share, compared to 2013 net sales of $491.8 million and earnings of $3.60 per share.

For the fourth quarter of 2013, Ruger reports net sales of $181.9 million and earnings of $1.33 per share. For the corresponding period in 2012, net sales were $141.8 million, with earnings of $1.00 per share.

"Our earnings increased 55 percent in 2013, driven by the 40 percent growth in sales and our ongoing focus on continuous improvement in our operations," said Michael Fifer, Ruger CEO. "New product introductions were a significant component of our sales growth as new product sales represented $195.8 million, or 29 percent, of firearm sales in 2013."

Fifer said the company expects to invest approximately $35 million on capital expenditures during 2014. During 2013, Ruger's capital expenditures included the purchase and building improvements of its new facility in Mayodan, N.C.

"During the fourth quarter of 2013, we began to manufacture a limited quantity of rifles at our 220,000-square-foot facility in Mayodan, N.C., that we acquired in September of 2013. Firearm production at the Mayodan facility is expected to increase during 2014," Fifer said.
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Title Annotation:INDUSTRY NEWS
Publication:Shooting Industry
Date:May 1, 2014
Words:214
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