Iconic gun maker Smith & Wesson posted quarterly sales of nearly $143 million, which is up 32% from last year.
Over the last few years, gun sales have been gaining ground. Although there is no official tally of how many guns are sold in the United States, but the FBI is on track this year to process a record number of background checks, which are a close proxy for sales.
Smith & Wesson’s sales don’t include the period after last week’s terror attacks in San Bernardino, which left 14 dead.
It is important to note that gun sales often rise after high-profile shootings. This is especially true if they’re accompanied by calls for tighter restrictions on guns. People panic and then tend to make the decision to buy now while they can.
Shares of Smith & Wesson have surged 116% this year, while Sturm, Ruger (RGR)’s stock has climbed 66% this year.