Shares of Smith & Wesson are going wild.
The gun maker’s stock was up by as much as 13% to as high as $US14.75 per share in trading Wednesday, the highest in nearly 10 months.
In a release on Wednesday, the company said orders have been stronger than expected in the fourth fiscal quarter.
It raised its expectations for net sales to between $US175 million and $US179 million, an 8% bump from the range it projected early in March.
For the full-year, the company sees sales totaling $US546-$US550 million.
Adjusted earnings per share are expected to fall between $US0.39-$US0.41 in the fourth quarter and $US0.96-$US0.98 for the full year. Previously, the company had forecast adjusted EPS of $US0.29-$US0.31 in the fourth quarter and the $US0.87-$US0.89 for the year.
In its most recent quarter, the company reported net sales fell 10.5%.
The stock is up 55% year-to-date.
Here’s a chart showing the spike in trading:
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