Business
Smith & Wesson Brands, Inc. Reports Fourth Quarter and Full Fiscal 2024 Financial Results
Q4 Net Sales of $159.1 Million Q4 Gross Margin of 35.5%; Non-GAAP Gross Margin of 35.6% Q4 EPS of $0.57/Share; Q4 Adjusted EPS of $0.45/Share Q4 Adjusted
About this update from Smith & Wesson Brands, Inc.
[{"type":"text","content":"\nQ4 Net Sales of $159.1 Million\nQ4 Gross Margin of 35.5%; Non-GAAP Gross Margin of 35.6%\nQ4 EPS of $0.57/Share; Q4 Adjusted EPS of $0.45/Share\nQ4 Adjusted EBITDAS Margin of 22.6%\nBoard of Directors Authorized 8.3% Increase in Quarterly Dividend\n\nMaryville, Tennessee--(Newsfile Corp. - June 20, 2024) - Smith & Wesson Brands, Inc. (NASDAQ: SWBI), a U.S.-based leader in firearm manufacturing and design, today announced financial results for the fourth quarter and full fiscal year 2024, ended April 30, 2024.\nFourth Quarter Fiscal 2024 Financial Highlights\n\n\nNet sales were $159.1 million, an increase of $14.4 million, or 9.9%, over the comparable quarter last year.\n\n\nGross margin was 35.5% compared with 29.0% in the comparable quarter last year.\n\n\nGAAP net income was $26.1 million, or $0.57 per diluted share, compared with $12.8 million, or $0.28 per diluted share, for the comparable quarter last year.\n\n\nNon-GAAP net income was $20.9 million, or $0.45 per diluted share, compared with $14.6 million, or $0.32 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for income include a gain related to the sale of certain intangible assets and other costs. For a detailed reconciliation, see the schedules that follow in this release.\n\n\nNon-GAAP Adjusted EBITDAS was $36.0 million, or 22.6% of net sales, compared with $30.3 million, or 20.9% of net sales, for the comparable quarter last year.\n\n\nFull Year Fiscal 2024 Financial Highlights\n\n\nNet sales were $535.8 million, an increase of $56.6 million, or 11.8%, over the prior fiscal year.\n\n\nGross margin was 29.5% compared with 32.2% in the prior fiscal year.\n\n\nGAAP net income was $39.6 million, or $0.86 per diluted share, compared with $36.9 million, or $0.80 per diluted share, for the prior fiscal year.\n\n\nNon-GAAP net income was $42.6 million, or $0.92 per diluted share, compared with $43.3 million, or $0.94 per diluted share, for the prior fiscal year. GAAP to non-GAAP adjustments for income include a gain related to the sale of certain intangible assets, costs related to the move of our headquarters and significant elements of our operations to a new facility in Maryville, Tennessee, or the Relocation, an accrued legal settlement, and other costs. For a detailed reconciliation, see the schedules that follow in this release....