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Smith & Wesson Brands Inc. (SWBI+1.04%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing a decrease in net sales to $115.9 million from $137.5 million in the same quarter the previous year. The decrease is attributed to lower consumer demand and a shift in product mix.
Gross profit for the quarter was $27.9 million, compared to $39.4 million in the previous year, with the decline attributed to lower production volumes and higher promotional costs.
Operating income for the quarter was $4.1 million, down from $11.3 million in the previous year. The decrease is primarily due to lower net sales and gross profit.
Net income for the quarter was $1.7 million, down from $7.9 million in the previous year. Basic and diluted net income per share was $0.04, compared to $0.17 in the previous year.
Cash used in operating activities was $48.1 million for the nine months ended January 31, 2025, compared to $63.0 million of cash provided in the same period the previous year.
The company repurchased 219,773 shares of its common stock for $2.8 million during the three months ended January 31, 2025.
Smith & Wesson had $110.0 million of borrowings outstanding on its revolving line of credit as of January 31, 2025, bearing interest at a weighted average rate of 6.63%.
The filing also details various legal proceedings involving the company, including product liability cases and other litigation matters.
Smith & Wesson continues to focus on managing its inventory levels and monitoring consumer demand to align production and sales strategies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Smith & Wesson Brands Inc. quarterly 10-Q report dated March 6, 2025. To report an error, please email earnings@qz.com.