Smith & Wesson Brands, Inc. Reports Second Quarter Fiscal 2022 Financial Results

Smith
& Wesson Brands, Inc. Reports Second Quarter Fiscal 2022 Financial
Results

• Two-Year Compounded Sales Growth of over
  140%
•  Gross Margin of 44.3%
•  EPS of $1.05/Share and EBITDAS of
  34.9%
  

Smith & Wesson Brands, Inc. Reports Second Quarter Fiscal 2022 Financial Results
– Two-Year Compounded Sales Growth of over 140%
– Gross Margin of 44.3%
– EPS of $1.05/Share and EBITDAS of 34.9%

SPRINGFIELD, Mass., Dec. 2, 2021 /PRNewswire/ — Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI), a U.S.-based leader in firearm manufacturing and design, today announced financial results for the second quarter of fiscal 2022, ended October 31, 2021.  Unless otherwise indicated, any reference to income statement items refers to results from continuing operations.

Second Quarter Fiscal 2022 Financial Highlights

• Net sales were $230.5 million, a decrease of $18.3 million, or 7.3%, from the comparable quarter last year.
• Gross margin was 44.3%, compared with 40.6% for the comparable quarter last year.
• Quarterly GAAP net income was $50.9 million, or $1.05 per diluted share, compared with $49.1 million, or $0.87 per diluted share, for the comparable quarter last year.
• Quarterly non-GAAP net income was $55.3 million, or $1.13 per diluted share, compared with $52.8 million, or $0.93 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for income exclude costs related to the planned relocation of our headquarters and certain manufacturing and distribution operations to Tennessee, the spin-off of the outdoor products and accessories business in fiscal 2021, COVID-19 related expenses, and other costs. For a detailed reconciliation, see the schedules that follow in this release.
• Quarterly non-GAAP Adjusted EBITDAS was $80.4 million, or 34.9% of net sales, compared with $78.9 million, or 31.7% of net sales, for the comparable quarter last year.

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