Smith & Wesson to acquire firearms maker, take charge

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    1. #1
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      Shipwreck's Avatar
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      Jan 2006
      Beretta City, Texas

      Smith & Wesson to acquire firearms maker, take charge

      Smith & Wesson to acquire firearms maker, take charge

      Dec 18 (Reuters) - Gunmaker Smith & Wesson Holding Corp. (SWHC.O: Quote, Profile , Research) said it agreed to buy a New Hampshire-based hunting firearms maker for $102 million in cash, and cut its 2007 earnings forecast on charges related to the acquisition.

      The purchase of Thompson/Center Arms Inc. will give Smith & Wesson immediate entry into the $600-million hunting rifle and black powder segments, the company said in a statement.

      The deal is expected to close in early January.

      Smith & Wesson now sees earnings of 27 cents a share against the 36 cents earlier forecast, after a non-cash acquisition charge of about 10 cents a share.

      The company expects $218.6 million in sales in 2007,including $18.6 million from Thompson/Center Arms, it said.

      Analysts forecast 2007 earnings of 37 cents a share, before items, on revenue of $205.6 million, according to Reuters Estimates.

    2. #2
      Senior Member tony pasley's Avatar
      Join Date
      May 2006
      clyde n.c.
      Now if they could buy some cojones to stand-up to the anti-gun crowd.

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