Gunmaker Smith & Wesson Holding Corp forecast current-quarter results that fell below analysts’ estimates as it expects to lose several days of production, sending its shares down 4.3 percent in extended trading yesterday.
The company, which reported a higher profit for the first quarter, said that it expects second-quarter income from continuing operations of 20 cents to 22 cents per share on sales that totaled $135 million to $140 million.
Analysts on average were expecting earnings of 29 cents per share on revenue of $143 million.
The company, which sells its guns under the brands Smith & Wesson, M&P and Thompson/Center, said that it would lose several days of production in the second quarter due to a shift to a new resource-planning system.
Springfield, Mass.-based Smith & Wesson, which competes with gun manufacturers Sturm Ruger, Glock and Taurus, said that its revenue rose to $171 million in the quarter ended July 30.