By Robert Barba
Shares of firearm maker Smith & Wesson Brands Inc. (NAS:SWBI) fell 12.5% in after-hours trading as results for the latest quarter came in lighter than expected.
The company reported net sales for its second quarter of $230.5 million, down 7.3% from a year earlier. Analysts polled by FactSet were expecting sales of $265 million.
Adjusted earnings of $1.13 a share were short of the $1.29 analysts were expecting.
Smith & Wesson shares closed Thursday at $22.91 apiece, up 1.8%. The stock is up 29% so far this year.
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