24 September 2006, 16:57
OhiosamS&W sales
Found this on another site and thought it was interesting.
The following is from the Smith & Wesson 2006 annual report which came out a month or so ago; everything here pertains to that brand only. These owners took over in May, 2001; the brand is 150-years old, and in 2002 their product sales were $79 million, with a loss of $17.8 million; in 2006 it was $157.8 million with a profit of $8.7 million.
Pistol models 27
Revolver models 39
Pistol price range $249 to $1274
Revolver prices $457 to $1378
Firearm sales, including rifles and Walther brand, $147.4 million
Pistol sales $48.9 million or 31.0% of product sales, with current backlog of 75,160 units. Pistol sales are up 69% from year before and includes U.S. purchase of $10 million for Sigmas.
Revolver sales $61.4 million or 38.9% of product sales, with current backlog of 13,643 units. Revolver sales are up 13.7% from year before
New models introduced: eight pistols, seven revolvers
Manufacturing, Springfield, Mass.: 530,323 s.f.; Houlton, Maine, (Walther)
38,115 s.f.
Currently working three-shift, 40-hour work week
Capacity: 1,900 handguns per day
“… we offer more handgun models, in more calibers, for more applications, than any other handgun manufacturerâ€
This report says that insurance is hard to obtain and expensive; they spent $3.7 million for it in fiscal 2006. No indication of legal expenses but I imagine it’s a killer too.
They employ 41 direct sales people and sell through 26 commercial distributors, plus 26 law enforcement distributors plus some direct sales.
All in all it’s a nicely written report with some S&W history and some very frank comments about the difficulties of being a large gun manufacturer (also known as big juicy target).
I own several of their revolvers, blued or nickeled, all steel K- and N-frames; I prefer revolvers for the kind of shooting I do. And I find their workmanship kind of awesome, the pinnacle of traditional American quality and know-how. It's also nice to know they are providing good jobs in manufacturing; they employ 832 people, and I wish them continued good health.
24 September 2006, 23:09
PeterAgreed. I have several S&W revolvers and a S&W Custom Shop "Shorty 40". All excellent guns. In addition, they seem to have a knack for reading or creating the market. Their 500 magnum and 460 seem to have created quite a stir. Good luck to them.
Peter.
25 September 2006, 08:18
308SakoCertainly a brighter outlook than a New Haven based former manufacturer...