Reuters: Hot Stocks: UPDATE 1-Smith & Wesson posts higher 4th-qtr profit

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UPDATE 1-Smith & Wesson posts higher 4th-qtr profit Jun 28th 2012, 20:45 Thu Jun 28, 2012 4:45pm EDT * Q4 cont ops EPS $0.27 vs $0.07 last yr * Q4 sales rose 28 pct to $129.8 mln * Sees Q1 sales $125-$130 mln vs est $112.6 mln * Sees FY 2013 sales $485-$505 mln vs est $466 mln * Shares up 15 pct after the bell June 28 (Reuters) - Smith & Wesson Holding Corp's quarterly profit rose on strong sales of its M&P brand of pistols and sporting rifles, prompting the gunmaker to forecast strong first-quarter revenue. Smith & Wesson shares rose as much as 15 percent in extended trading, after closing at $6.89 on Thursday on the Nasdaq. The company expects first-quarter sales of $125 million to $130 million. Analysts, on average, had forecast earnings of $112.6 million, according to Thomson Reuters I/B/E/S. Fourth-quarter net income from continued operations was $17.8 million, or 27 cents a share, compared with a loss of $4.4 million, or 7 cents a share, a year ago. The company, which competes with Sturm Ruger & Co Inc , Glock Inc and Taurus, said revenue rose about 28 percent to $129.8 million. Link this Share this Digg this Email Reprints

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