Gun and ammo manufacturers break records despite Biden’s attacks

Gun manufacture Smith & Wesson reported their best sales year ever in 2020 reaching over $1.1 billion in net sales for the first time, according to Stephen Gutkowski at The Reload

This news despite efforts by President Joe Biden to attack gun ownership from his platform on the campaign trail and now in Washington D.C.

“The Second Amendment from the day it was passed, limited the type of people who could own a gun and what type of weapon you could own. … Well, the tree of liberty is not [watered with] the blood of patriots, what’s happened is that there never been, if you want, if you think you need to have weapons to take on the government, you need F-15s and maybe some nuclear weapons,” Biden said earlier this year. 

However, this didn’t slow down Smith & Wesson who stated on an earnings call that the “fourth-quarter revenue of nearly $323 million was the highest quarter ever on record and marks the fourth consecutive record-breaking quarter for the company.”

This will likely be attributed to frustration and fear among conservatives who feel that the government could be closing in on their right to use and bear arms. 

However, for their part, the gun manufacturer believes in the capitalist way of life so much that they’re distributing more than $14 million in bonuses that will be 15% of eligible employees’ salaries, according to CEO Mark Smith.

Additionally, they’re giving a special bonus of $1,200 to those not eligible for the management bonus, for a full-time employee, and $600 for temporary workers, prorating it for the months worked during the last fiscal year. 

“Our manufacturing logistics teams produced and shipped nearly 2.5 million units last fiscal year, representing a 70% increase year on year, while during the same timeframe, the U.S. firearms market as measured by NICS grew by 42%.”

However, according to Gutkowski Smith & Wesson the only gun company seeing a sharp increase in interest in their products. Ruger also reported an increase of almost 50 percent in net sales during its first quarter of 2021 and top ammo makers Olin Company and Vista Outdoor have seen a stock price increase of almost 400 percent.