Smith & Wesson Brands, Inc. Reports Third Quarter Fiscal 2025 Financial Results

Newsfile

03-06

- Q3 Net Sales of $115.9 Million- Q3 Gross Margin of 24.1%; Non-GAAP Gross Margin of 25.1% - Q3 EPS of $0.04/Share; Q3 Adjusted EPS of $0.02/Share Maryville, Tennessee--(Newsfile Corp. - March 6, 2025...

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Reports Third Quarter Fiscal 2025 Financial Results","media":"Newsfile","content":"<div>\n<p>- Q3 Net Sales of $115.9 Million- Q3 Gross Margin of 24.1%; Non-GAAP Gross Margin of 25.1% - Q3 EPS of $0.04/Share; Q3 Adjusted EPS of $0.02/Share\nMaryville, Tennessee--(Newsfile Corp. - March 6, 2025...</p>\n\n<a href=\"https://finance.yahoo.com/news/smith-wesson-brands-inc-reports-210500677.html\">網頁鏈接</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Smith & Wesson Brands, Inc. Reports Third Quarter Fiscal 2025 Financial Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSmith & Wesson Brands, Inc. Reports Third Quarter Fiscal 2025 Financial Results\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Newsfile</strong><span class=\"h-time small\">2025-03-07 05:05</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>- Q3 Net Sales of $115.9 Million- Q3 Gross Margin of 24.1%; Non-GAAP Gross Margin of 25.1% - Q3 EPS of $0.04/Share; Q3 Adjusted EPS of $0.02/Share\nMaryville, Tennessee--(Newsfile Corp. - March 6, 2025...</p>\n\n<a href=\"https://finance.yahoo.com/news/smith-wesson-brands-inc-reports-210500677.html\">網頁鏈接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.yahoo.com/news/smith-wesson-brands-inc-reports-210500677.html\">Newsfile</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4532","symbol_name":"文藝復興科技持倉","start_time":0,"source_url":"https://finance.yahoo.com/news/smith-wesson-brands-inc-reports-210500677.html","article_id":"2517115709","we_media_id":null,"thumbnails":[],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/smith-wesson-brands-inc-reports-210500677.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2517115709","pubTimestamp":1741295100,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"- Q3 Net Sales of $115.9 Million- Q3 Gross Margin of 24.1%; Non-GAAP Gross Margin of 25.1% - Q3 EPS of $0.04/Share; Q3 Adjusted EPS of $0.02/Share. Maryville, Tennessee-- - Smith & Wesson Brands, Inc. , a U.S.-based leader in firearm manufacturing and design, today announced financial results for the third quarter of fiscal 2025, ended January 31, 2025.GAAP net income was $1.7 million, or $0.04 per diluted share, compared with $7.9 million, or $0.17 per diluted share, for the comparable quarter last year.Non-GAAP net income was $962 thousand, or $0.02 per diluted share, compared with $8.7 million, or $0.19 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for income exclude costs related to the relocation and a gain on sale of certain real estate. For a detailed reconciliation, see the schedules that follow in this release.Conference Call and WebcastThe company will host a conference call and webcast on March 6, 2025 to discuss its third quarter fisc","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4532":"文艺复兴科技持仓","BK4190":"消闲用品","SWHC":"史密斯威森","SWBI":"Smith And Wesson Brands Inc"},"translate_title":"Smith&Wesson Brands,Inc.报告2025财年第三季度财务业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SWBI":0.9,"SWHC":1},"content_text":"- Q3 Net Sales of $115.9 Million- Q3 Gross Margin of 24.1%; Non-GAAP Gross Margin of 25.1% - Q3 EPS of $0.04/Share; Q3 Adjusted EPS of $0.02/Share\nMaryville, Tennessee--(Newsfile Corp. - March 6, 2025) - Smith & Wesson Brands, Inc. (NASDAQ: SWBI), a U.S.-based leader in firearm manufacturing and design, today announced financial results for the third quarter of fiscal 2025, ended January 31, 2025. \nFinancial Highlights\n\nNet sales were $115.9 million, a decrease of $21.6 million, or 15.7%, from the comparable quarter last year.\nGross margin was 24.1% compared with 28.7% in the comparable quarter last year.\nGAAP net income was $1.7 million, or $0.04 per diluted share, compared with $7.9 million, or $0.17 per diluted share, for the comparable quarter last year. \nNon-GAAP net income was $962 thousand, or $0.02 per diluted share, compared with $8.7 million, or $0.19 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for income exclude costs related to the relocation and a gain on sale of certain real estate. For a detailed reconciliation, see the schedules that follow in this release.\nNon-GAAP Adjusted EBITDAS was $13.3 million, or 11.5% of net sales, compared with $21.4 million, or 15.6% of net sales, for the comparable quarter last year.\n\nMark Smith, President and Chief Executive Officer, commented, \"Our top line revenue for the third quarter came in slightly below our target range. However, lower operating expenses and leveraging of our flexible manufacturing model – which is designed to ensure solid profitability regardless of demand conditions – allowed us to deliver on EPS and EBITDAS expectations. Our new products continue to perform very well and we believe we gained share in those categories, with products introduced within the past year accounting for over 41% of sales in the quarter. We anticipate that the firearms market will remain steady at current demand levels, and we believe we are well-positioned for continued success given our industry leading innovation pipeline, disciplined cost control, state-of-the-art facilities, flexible manufacturing model, strong balance sheet, and capital allocation model of returning value to stockholders.\"\nDeana McPherson, Executive Vice President and Chief Financial Officer, commented, \"While our new products continue to perform very well, we are seeing lower demand for our core product portfolio, which is negatively impacting both our top line and margins. We continue to expect full year revenue to be 5-10% lower than in fiscal 2024, which is consistent with what we said last quarter. Consistent with our capital allocation strategy, our board of directors has authorized a $0.13 per share quarterly dividend, which will be paid to stockholders of record on March 20, 2025 with payment to be made on April 3, 2025.\" \nConference Call and WebcastThe company will host a conference call and webcast on March 6, 2025 to discuss its third quarter fiscal 2025 financial and operational results. Speakers on the conference call will include Mark Smith, President and Chief Executive Officer, and Deana McPherson, Executive Vice President and Chief Financial Officer. The conference call may include forward-looking statements. The conference call and webcast will begin at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Interested parties in North America are invited to participate by dialing 1-877-704-4453. Interested parties from outside North America are invited to participate by dialing 1-201-389-0920. Participants should dial in at least 10 minutes prior to the start of the call. A live and archived webcast of the event will be available on the company's website at www.smith-wesson.com under the Investor Relations section.\nReconciliation of U.S. GAAP to Non-GAAP Financial MeasuresIn this press release, certain non-GAAP financial measures, including \"non-GAAP net income,\" \"Adjusted EBITDAS,\" and \"free cash flow\" are presented. From time-to-time, we consider and use these supplemental measures of operating performance in order to provide the reader with an improved understanding of underlying performance trends. We believe it is useful for us and the reader to review, as applicable, both (1) GAAP measures that include (i) interest expense, (ii) income tax expense, (iii) depreciation and amortization, (iv) stock-based compensation expense, (v) spin related stock-based compensation, (vi) an accrued legal settlement, (vii) a gain on sale of certain real estate, (viii) Relocation expense, and (ix) the tax effect of non-GAAP adjustments; and (2) the non-GAAP measures that exclude such information. We present these non-GAAP measures because we consider them an important supplemental measure of our performance. Our definition of these adjusted financial measures may differ from similarly named measures used by others. We believe these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. These non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for our GAAP measures. The principal limitations of these measures are that they do not reflect our actual expenses and may thus have the effect of inflating its financial measures on a GAAP basis.\nAbout Smith & Wesson Brands, Inc.Smith & Wesson Brands, Inc. (NASDAQ: SWBI) is a U.S.-based leader in firearm manufacturing and design, delivering a broad portfolio of quality handgun, long gun, and suppressor products to the global consumer and professional markets under the iconic Smith & Wesson® and Gemtech® brands. The company also provides forging and machining services to third parties. For more information call (800) 331-0852 or visit www.smith-wesson.com. \nSafe Harbor Statement Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe-harbor created thereby. Such forward-looking statements include, among others, that (i) we anticipate that the firearms market will remain steady at current demand levels, (ii) we believe we are well-positioned for continued success given our industry leading innovation pipeline, disciplined cost control, state-of-the-art facilities, flexible manufacturing model, strong balance sheet and capital allocation model of returning value to stockholders, and (iii) we continue to expect full year revenue to be 5-10% lower than in fiscal 2024. We caution that these statements are qualified by important risks, uncertainties, and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, economic, social, political, legislative, and regulatory factors; the results of the 2024 elections; the potential for increased regulation of firearms and firearm-related products; actions of social activists that could have an adverse effect on our business; the impact of lawsuits; the demand for our products; the state of the U.S. economy in general and the firearm industry in particular; general economic conditions and consumer spending patterns; our competitive environment; the supply, availability and costs of raw materials and components; our anticipated growth and growth opportunities; our strategies; our ability to maintain and enhance brand recognition and reputation; our ability to effectively manage and execute the Relocation; our ability to introduce new products; the success of new products; the potential for cancellation of orders from our backlog; and other risks detailed from time to time in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2024.\nContact: investorrelations@smith-wesson.com(413) 747-3448\n\n\n\nSMITH &WESSON BRANDS, INC AND SUBSIDIARIES\n\n\nCONSOLIDATED BALANCE SHEETS\n\n\n(Unaudited)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAs of:\n\n\n\n\n\nJanuary 31, 2025\n\n\nApril 30, 2024\n\n\n\n\n\n(In thousands, except par value and share data)\n\n\nASSETS\n\n\nCurrent assets:\n\n\n \n\n\n \n\n\nCash and cash equivalents\n\n$\n26,704\n\n$\n60,839\n\n\nAccounts receivable, net of allowances for credit losses of $5 on January 31, 2025, and $0 on April 30, 2024\n\n\n57,442\n\n\n59,071\n\n\nInventories\n\n\n198,939\n\n\n160,500\n\n\nPrepaid expenses and other current assets\n\n\n7,988\n\n\n4,973\n\n\nIncome tax receivable \n\n\n7,627\n\n\n2,495\n\n\nTotal current assets\n\n\n298,700\n\n\n287,878\n\n\nProperty, plant, and equipment, net of accumulated depreciation and amortization  of $367,717 on January 31, 2025, and $352,615 on April 30, 2024\n\n\n243,430\n\n\n252,633\n\n\nIntangibles, net\n\n\n2,466\n\n\n2,598\n\n\nGoodwill\n\n\n19,024\n\n\n19,024\n\n\nDeferred income taxes\n\n\n7,312\n\n\n7,249\n\n\nOther assets\n\n\n7,925\n\n\n8,614\n\n\nTotal assets\n\n$\n578,857\n\n$\n577,996\n\n\nLIABILITIES AND STOCKHOLDERS' EQUITY\n\n\nCurrent liabilities:\n\n\n \n\n\n \n\n\nAccounts payable\n\n$\n25,183\n\n$\n41,831\n\n\nAccrued expenses and deferred revenue\n\n\n26,742\n\n\n26,811\n\n\nAccrued payroll and incentives\n\n\n8,987\n\n\n17,147\n\n\nAccrued profit sharing\n\n\n1,630\n\n\n9,098\n\n\nAccrued warranty\n\n\n1,436\n\n\n1,813\n\n\nTotal current liabilities\n\n\n63,978\n\n\n96,700\n\n\nNotes and loans payable (Note 3)\n\n\n109,045\n\n\n39,880\n\n\nFinance lease payable, net of current portion\n\n\n34,143\n\n\n35,404\n\n\nOther non-current liabilities\n\n\n7,620\n\n\n7,852\n\n\nTotal liabilities\n\n\n214,786\n\n\n179,836\n\n\nCommitments and contingencies (Note 8)\n\n\n \n\n\n \n\n\nStockholders' equity:\n\n\n \n\n\n \n\n\nPreferred stock, $0.001 par value, 20,000,000 shares authorized, no shares issued or outstanding\n\n\n—\n\n\n—\n\n\nCommon stock, $0.001 par value, 100,000,000 shares authorized, 75,680,697 issued and 44,002,703 shares outstanding on January 31, 2025 and 75,395,490 shares issued and 45,561,569 shares outstanding on April 30, 2024\n\n\n76\n\n\n75\n\n\nAdditional paid-in capital \n\n\n295,348\n\n\n289,994\n\n\nRetained earnings\n\n\n526,896\n\n\n540,660\n\n\nAccumulated other comprehensive income\n\n\n73\n\n\n73\n\n\nTreasury stock, at cost (31,677,994 shares on January 31, 2025 and29,833,921 shares on April 30, 2024)\n\n\n(458,322)\n\n\n(432,642)\n\n\nTotal stockholders' equity\n\n\n364,071\n\n\n398,160\n\n\nTotal liabilities and stockholders' equity\n\n$\n578,857\n\n$\n577,996\n\n\n\n\n\n\nSMITH & WESSON BRANDS, INC AND SUBSIDIARIES\n\n\nCONSOLIDATED STATEMENTS OF INCOME\n\n\n(Unaudited)\n\n\n\n\n\n\n \n\nFor the Three Months Ended January 31,\n\n\nFor the Nine Months Ended January 31,\n\n\n\n \n\n2025\n \n\n2024\n\n\n2025\n \n\n2024\n\n\n\n \n\n(In thousands, except per share data)\n\n\nNet sales\n \n$\n115,885\n \n$\n 137,484 \n\n$\n333,899\n \n$\n 376,686 \n\n\nCost of sales\n \n\n87,938\n \n\n 98,060 \n\n\n247,261\n \n\n 275,094 \n\n\nGross profit\n \n\n27,947\n \n\n 39,424 \n\n\n86,638\n \n\n 101,592 \n\n\nOperating expenses:\n \n\n \n \n\n\n\n\n \n \n\n\n\n\nResearch and development\n \n\n2,869\n \n\n 1,969 \n\n\n7,605\n \n\n 5,484 \n\n\nSelling, marketing, and distribution\n \n\n10,336\n \n\n 10,080 \n\n\n29,839\n \n\n 31,138 \n\n\nGeneral and administrative\n \n\n12,999\n \n\n 16,063 \n\n\n42,480\n \n\n 45,571 \n\n\n(Gain)/loss on sale/disposition of assets\n \n\n(2,382)\n \n\n 30 \n\n\n(2,521)\n \n\n (1)\n\n\nTotal operating expenses\n \n\n23,822\n \n\n 28,142 \n\n\n77,403\n \n\n 82,192 \n\n\nOperating income\n \n\n4,125\n \n\n 11,282 \n\n\n9,235\n \n\n 19,400 \n\n\nOther (expense)/income, net:\n \n\n \n \n\n\n\n\n \n \n\n\n\n\nOther (expense)/income, net\n \n\n—\n \n\n (11)\n\n\n(11)\n \n\n 176 \n\n\nInterest expense, net\n \n\n(1,723)\n \n\n (955)\n\n\n(3,875)\n \n\n (1,448)\n\n\nTotal other expense, net\n \n\n(1,723)\n \n\n (966)\n\n\n(3,886)\n \n\n (1,272)\n\n\nIncome before income taxes\n \n\n2,402\n \n\n 10,316 \n\n\n5,349\n \n\n 18,128 \n\n\nIncome tax expense\n \n\n739\n \n\n 2,434 \n\n\n1,659\n \n\n 4,629 \n\n\nNet income\n \n$\n1,663\n \n$\n 7,882 \n\n$\n3,690\n \n$\n 13,499 \n\n\nNet income per share:\n \n\n \n \n\n\n\n\n \n \n\n\n\n\nBasic - net income\n \n$\n0.04\n \n$\n 0.17 \n\n$\n0.08\n \n$\n 0.29 \n\n\nDiluted - net income\n \n$\n0.04\n \n$\n 0.17 \n\n$\n0.08\n \n$\n 0.29 \n\n\nWeighted average number of common shares outstanding:\n \n\n \n \n\n\n\n\n \n \n\n\n\n\nBasic\n \n\n44,038\n \n\n 45,618 \n\n\n44,627\n \n\n 45,901 \n\n\nDiluted\n \n\n44,398\n \n\n 46,028 \n\n\n45,069\n \n\n 46,315 \n\n\n\n\n\n\nSMITH & WESSON BRANDS, INC AND SUBSIDIARIES\n\n\nCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS\n\n\n(Unaudited)\n\n\n\n\n \n \n \nFor the Nine Months Ended January 31,\n\n\n\n\n \n \n \n2025\n\n\n \n2024\n\n\n\n\n \n \n \n(In thousands)\n\n\nCash flows from operating activities:\n\n \n \n \n\n\n\n \n\n\n\nNet income\n\n \n $\n \n 3,690 \n\n\n  $\n 13,499 \n\n\nAdjustments to reconcile net income to net cash (used in)/provided by operating activities:\n\n \n \n \n\n\n\n \n\n\n\nDepreciation and amortization\n\n \n \n \n23,860 \n\n\n \n24,291 \n\n\n(Gain)/loss on sale/disposition of assets\n\n \n \n \n(2,521)\n\n\n \n785 \n\n\nRecoveries on notes and accounts receivable\n\n \n \n \n—\n\n\n \n(23)\n\n\nDeferred income taxes\n\n \n \n \n(63)\n\n\n \n—\n\n\nStock-based compensation expense\n\n \n \n \n5,724 \n\n\n \n4,264 \n\n\nNon-cash sublease income\n\n \n \n \n(1,287)\n\n\n \n(139)\n\n\nChanges in operating assets and liabilities:\n\n \n \n \n\n\n\n \n\n\n\nAccounts receivable\n\n \n \n \n1,629 \n\n\n \n(5,471)\n\n\nInventories\n\n \n \n \n(38,439)\n\n\n \n23,589 \n\n\nPrepaid expenses and other current assets\n\n \n \n \n(3,015)\n\n\n \n(4,103)\n\n\nIncome taxes\n\n \n \n \n(5,132)\n\n\n \n(6,079)\n\n\nAccounts payable\n\n \n \n \n(16,750)\n\n\n \n11,230 \n\n\nAccrued payroll and incentives\n\n \n \n \n(8,160)\n\n\n \n1,332 \n\n\nAccrued profit sharing\n\n \n \n \n(7,468)\n\n\n \n(4,730)\n\n\nAccrued expenses and deferred revenue\n\n \n \n \n(456)\n\n\n \n3,907 \n\n\nAccrued warranty\n\n \n \n \n(377)\n\n\n \n440 \n\n\nOther assets\n\n \n \n \n946 \n\n\n \n595 \n\n\nOther non-current liabilities\n\n \n \n \n(232)\n\n\n \n(384)\n\n\nNet cash (used in)/provided by operating activities\n\n \n \n \n(48,051)\n\n\n \n63,003 \n\n\nCash flows from investing activities:\n\n \n \n \n\n\n\n \n\n\n\nPayments to acquire patents and software\n\n \n \n \n (150)\n\n\n \n (164)\n\n\nProceeds from sale of property and equipment\n\n \n \n \n 2,668 \n\n\n \n 2,877 \n\n\nPayments to acquire property and equipment\n\n \n \n \n (14,314)\n\n\n \n (85,188)\n\n\nNet cash used in investing activities\n\n \n \n \n (11,796)\n\n\n \n (82,475)\n\n\nCash flows from financing activities:\n\n \n \n \n\n\n\n \n\n\n\nProceeds from loans and notes payable\n\n \n \n \n 70,000 \n\n\n \n 50,000 \n\n\nCash paid for debt issuance costs\n\n \n \n \n (941)\n\n\n \n—\n\n\nPayments on finance lease obligation\n\n \n \n \n (134)\n\n\n \n (929)\n\n\nPayments on notes and loans payable\n\n \n \n \n—\n\n\n \n (10,000)\n\n\nPayments to acquire treasury stock\n\n \n \n \n (25,468)\n\n\n \n (9,128)\n\n\nDividend distribution\n\n \n \n \n (17,375)\n\n\n \n (16,557)\n\n\nProceeds to acquire common stock from employee stock purchase plan\n\n \n \n \n 749 \n\n\n \n 722 \n\n\nPayment of employee withholding tax related to restricted stock units\n\n \n \n \n (1,119)\n\n\n \n (825)\n\n\nNet cash provided by financing activities\n\n \n \n \n 25,712 \n\n\n \n 13,283 \n\n\nNet decrease in cash and cash equivalents\n\n \n \n \n (34,135)\n\n\n \n (6,189)\n\n\nCash and cash equivalents, beginning of period\n\n \n \n \n 60,839 \n\n\n \n 53,556 \n\n\nCash and cash equivalents, end of period\n\n \n \n \n 26,704 \n\n\n $\n 47,367 \n\n\nSupplemental disclosure of cash flow information\n\n \n \n \n\n\n\n \n\n\n\nCash paid for:\n\n \n \n \n\n\n\n \n\n\n\nInterest, net of amounts capitalized\n\n \n $\n \n 4,219 \n\n\n$\n 3,317 \n\n\nIncome taxes\n\n \n $\n \n 7,098 \n\n\n $\n10,687\n\n\n\n\n\n\nSMITH & WESSON BRANDS, INC. AND SUBSIDIARIESRECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES (Dollars in thousands, except per share data)(Unaudited)\n\n\n\n \n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n \n\n\n \n\n\n \n\n\n\n\n \n \nFor the Three Months Ended \n\n \n\nFor the Nine Months Ended\n\n\n\n \n \nJanuary 31, 2025\n\n \nJanuary 31, 2024\n\n \n\nJanuary 31, 2025\n\n \nJanuary 31, 2024\n\n\n\n \n \n$\n\n \n% of Sales\n\n \n$\n\n \n% of Sales\n\n \n\n$\n\n \n% of Sales\n\n \n$\n\n \n% of Sales\n\n\nGAAP net sales\n \n $\n 115,885 \n\n \n\n\n $\n 137,484 \n\n \n\n\n \n$\n333,899\n\n \n\n\n$ \n 376,686 \n\n \n\n\n\nRelocation \n \n \n (203)\n\n \n\n\n \n—\n\n \n\n\n \n\n(4,416)\n\n \n\n\n \n—\n\n \n\n\n\nNon-GAAP net sales\n \n $\n 115,682 \n\n \n\n\n $\n 137,484 \n\n \n\n\n \n$\n329,483\n\n \n\n\n $\n 376,686 \n\n \n\n\n\n\n \n \n\n\n \n\n\n \n\n\n \n\n\n \n\n \n\n \n\n\n \n\n\n \n\n\n\nGAAP gross profit\n \n $\n 27,947 \n\n \n24.1%\n\n $\n 39,424 \n\n \n28.7%\n\n \n$\n86,638\n\n \n25.9%\n\n $\n 101,592 \n\n \n27.0%\n\n\nRelocation expenses\n \n \n 1,096 \n\n \n\n\n \n 642 \n\n \n\n\n \n\n2,830\n\n \n\n\n \n 1,954 \n\n \n\n\n\nSettlement\n \n \n—\n\n \n\n\n \n—\n\n \n\n\n \n\n70\n\n \n\n\n \n 3,200 \n\n \n\n\n\nNon-GAAP gross profit\n \n $\n 29,043 \n\n \n25.1%\n\n $\n 40,066 \n\n \n29.1%\n\n \n$\n89,538\n\n \n27.2%\n\n $\n 106,746 \n\n \n28.3%\n\n\n\n \n \n\n\n \n\n\n \n\n\n \n\n\n \n\n \n\n \n\n\n \n\n\n \n\n\n\nGAAP operating expenses\n \n $\n 23,822 \n\n \n20.6%\n\n $\n 28,142 \n\n \n20.5%\n\n \n$\n77,403\n\n \n23.2%\n\n $\n 82,192 \n\n \n21.8%\n\n\nGain on sale of asset\n \n \n 2,257 \n\n \n\n\n \n—\n\n \n\n\n \n\n2,257\n\n \n\n\n \n—\n\n \n\n\n\nSpin related stock-based compensation\n \n \n—\n\n \n\n\n \n (3)\n\n \n\n\n \n\n—\n\n \n\n\n \n (10)\n\n \n\n\n\nRelocation expenses\n \n \n (149)\n\n \n\n\n \n (431)\n\n \n\n\n \n\n(586)\n\n \n\n\n \n (5,092)\n\n \n\n\n\nNon-GAAP operating expenses\n \n $\n 25,930 \n\n \n22.4%\n\n $\n 27,708 \n\n \n20.2%\n\n \n$\n79,074\n\n \n24.0%\n\n $\n 77,090 \n\n \n20.5%\n\n\n\n \n \n\n\n \n\n\n \n\n\n \n\n\n \n\n \n\n \n\n\n \n\n\n \n\n\n\nGAAP operating income\n \n $\n 4,125 \n\n \n3.6%\n\n $\n 11,282 \n\n \n8.2%\n\n \n$\n9,235\n\n \n2.8%\n\n $\n 19,400 \n\n \n5.2%\n\n\nGain on sale of asset\n \n \n (2,257)\n\n \n\n\n \n—\n\n \n\n\n \n\n(2,257)\n\n \n\n\n \n—\n\n \n\n\n\nSettlement\n \n \n—\n\n \n\n\n \n—\n\n \n\n\n \n\n70\n\n \n\n\n \n 3,200 \n\n \n\n\n\nSpin related stock-based compensation\n \n \n—\n\n \n\n\n \n 3 \n\n \n\n\n \n\n—\n\n \n\n\n \n 10 \n\n \n\n\n\nRelocation expenses\n \n \n 1,245 \n\n \n\n\n \n 1,073 \n\n \n\n\n \n\n3,416\n\n \n\n\n \n 7,046 \n\n \n\n\n\nNon-GAAP operating income\n \n $\n 3,113 \n\n \n2.7%\n\n $\n 12,358 \n\n \n9.0%\n\n \n$\n10,464\n\n \n3.2%\n\n $\n 29,656 \n\n \n7.9%\n\n\n\n \n \n\n\n \n\n\n \n\n\n \n\n\n \n\n \n\n \n\n\n \n\n\n \n\n\n\nGAAP net income\n \n $\n 1,663 \n\n \n1.4%\n\n $\n 7,882 \n\n \n5.7%\n\n \n$\n3,690\n\n \n1.1%\n\n $\n 13,499 \n\n \n3.6%\n\n\nGain on sale of asset\n \n \n (2,257)\n\n \n\n\n \n—\n\n \n\n\n \n\n(2,257)\n\n \n\n\n \n—\n\n \n\n\n\nSettlement\n \n \n—\n\n \n\n\n \n—\n\n \n\n\n \n\n70\n\n \n\n\n \n 3,200 \n\n \n\n\n\nSpin related stock-based compensation\n \n \n—\n\n \n\n\n \n 3 \n\n \n\n\n \n\n—\n\n \n\n\n \n 10 \n\n \n\n\n\nRelocation expenses\n \n \n 1,245 \n\n \n\n\n \n 1,073 \n\n \n\n\n \n\n3,416\n\n \n\n\n \n 7,046 \n\n \n\n\n\nTax effect of non-GAAP adjustments\n \n \n 311 \n\n \n\n\n \n (254)\n\n \n\n\n \n\n(381)\n\n \n\n\n \n (2,446)\n\n \n\n\n\nNon-GAAP net income\n \n $\n 962 \n\n \n0.8%\n\n $\n 8,704 \n\n \n6.3%\n\n \n$\n4,538\n\n \n1.4%\n\n $\n 21,309 \n\n \n5.7%\n\n\n\n \n \n\n\n \n\n\n \n\n\n \n\n\n \n\n \n\n \n\n\n \n\n\n \n\n\n\nGAAP net income per share - diluted\n \n $\n 0.04 \n\n \n\n\n $\n 0.17 \n\n \n\n\n \n$\n0.08\n\n \n\n\n $\n 0.29 \n\n \n\n\n\nGain on sale of asset\n \n \n (0.05)\n\n \n\n\n \n—\n\n \n\n\n \n\n(0.05)\n\n \n\n\n \n—\n\n \n\n\n\nSettlement \n \n \n—\n\n \n\n\n \n—\n\n \n\n\n \n\n—\n\n \n\n\n \n 0.07 \n\n \n\n\n\nSpin related stock-based compensation\n \n \n—\n\n \n\n\n \n—\n\n \n\n\n \n\n—\n\n \n\n\n \n—\n\n \n\n\n\nRelocation expenses\n \n \n 0.03 \n\n \n\n\n \n 0.02 \n\n \n\n\n \n\n0.08\n\n \n\n\n \n 0.15 \n\n \n\n\n\nTax effect of non-GAAP adjustments\n \n \n 0.01 \n\n \n\n\n \n (0.01)\n\n \n\n\n \n\n(0.01)\n\n \n\n\n \n (0.05)\n\n \n\n\n\nNon-GAAP net income per share - diluted\n \n $\n 0.02 \n (a) \n\n $\n0.19 \n (a) \n\n \n$\n0.10\n\n \n\n\n $\n 0.46 \n\n \n\n\n\n\n(a) Non-GAAP net income per share does not foot due to rounding.  \n\n\n\nSMITH & WESSON BRANDS, INC. AND SUBSIDIARIES\n\n\nRECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED EBITDAS\n\n\n(in thousands)\n\n\n(Unaudited)\n\n\n\n \n\n\n \n\n\n\n\n\n \n\n\n\n\n\n \nFor the Three Months Ended\n\n\nFor the Nine Months Ended\n\n\n\n \n\nJanuary 31, 2025\n \n\nJanuary 31, 2024\n\n\nJanuary 31, 2025\n \n\nJanuary 31, 2024\n\n\n\n \n\n\n \n\n\n\n\n \n \n\n\n\n\nGAAP net income\n \n$\n 1,663 \n \n$\n 7,882 \n\n$\n3,690\n \n$\n 13,499 \n\n\nInterest expense\n \n\n 2,355 \n \n\n 1,615 \n\n\n5,881\n \n\n 3,404 \n\n\nIncome tax expense\n \n\n 739 \n \n\n 2,434 \n\n\n1,659\n \n\n 4,629 \n\n\nDepreciation and amortization\n \n\n 7,548 \n \n\n 6,941 \n\n\n23,754\n \n\n 24,145 \n\n\nStock-based compensation expense\n \n\n 2,002 \n \n\n 1,504 \n\n\n5,724\n \n\n 4,264 \n\n\nSettlement\n \n\n—\n \n\n—\n\n\n70\n \n\n 3,200 \n\n\nGain on sale of asset\n \n\n (2,257)\n \n\n—\n\n\n(2,257)\n \n\n—\n\n\nRelocation expense\n \n\n 1,230 \n \n\n 1,073 \n\n\n3,143\n \n\n 5,186 \n\n\nNon-GAAP Adjusted EBITDAS\n \n$\n 13,280 \n \n$\n 21,449 \n\n$\n41,664\n \n$\n 58,327 \n\n\n\n \n\n\n \n\n\n\n\n \n \n\n\n\n\nNon-GAAP Adjusted EBITDAS Margin\n \n\n11.5%\n \n\n15.6%\n\n\n12.6%\n \n\n15.5%\n\n\n\n\n\n\nSMITH & WESSON BRANDS, INC. AND SUBSIDIARIES\n\n\nRECONCILIATION OF NET CASH (USED IN) / PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW (In thousands)(Unaudited)\n\n\n\n \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n \n \nFor the Three Months Ended\n\n\nFor the Nine Months Ended\n\n\n\n \n \nJanuary 31, 2025\n\n\nJanuary 31, 2024\n\n\nJanuary 31, 2025\n\n\nJanuary 31, 2024\n\n\nNet cash (used in)/provided by operating activities\n \n $\n (9,839)\n\n$\n25,247\n\n$\n(48,051)\n\n$\n63,003\n\n\nPayments to acquire property and equipment\n \n \n (6,310)\n\n\n(18,205)\n\n\n(14,314)\n\n\n(85,188)\n\n\nFree cash flow\n \n $\n (16,149)\n\n$\n7,042\n\n$\n(62,365)\n\n$\n(22,185)\n\n\n\n\nTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/243570","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}

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