Gunmaker Stocks Crash After-Hours: "Low Firearm Demand May Continue For Some Time"

slashing its sales and earnings guidance and warning that lower levels of firearm demand may continue for some time.

The company reported much lower revenue than expected in fiscal third-quarter earnings Thursday, and offered a revenue forecast that was even more off of expectations…

Sees FY adjusted EPS 31c to 33c, estimate 60c (range 57c to 64c) (Bloomberg data)

Sees 4Q net sales $162 million to $166 million, estimate $205.7 million (range $203.0 million to $210.0 million) (BD)

Sees 4Q adjusted EPS 9.0c to 11c, estimate 37.5c (range 35.0c to 40.0c) (BD)

Sees FY net sales $597 million to $601 million, estimate $655.6 million (range $650.0 million to $662.0 million) (BD)

Chief Executive James Debney said in Thursday's announcement…

“We believe that the new, lower levels of consumer firearm demand we saw reflected in the January NICS results may continue for some time,”

“Going forward, we will operate our business under the assumption that the next 12-18 months could deliver flattish revenues in firearms.”

“Overall, our long-term strategy remains focused on being the leading provider of quality products for the shooting, hunting, and rugged outdoor enthusiast.”