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Sturm Ruger profit beats consensus by 16.6% in fiscal Q1

Sturm Ruger & Co. Inc. said its normalized net income for the fiscal first quarter ended March 28 amounted to 79 cents per share, compared with the S&P Capital IQ consensus estimate of 68 cents per share.

EPS declined 34.6% year over year from $1.20.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $15.1 million, a decrease of 36.8% from $23.9 million in the prior-year period.

The normalized profit margin fell to 11.1% from 14.1% in the year-earlier period.

Total revenue declined 19.4% on an annual basis to $137.0 million from $169.9 million, and total operating expenses fell 14.2% year over year to $113.2 million from $131.9 million.

Reported net income declined 35.8% year over year to $15.6 million, or 81 cents per share, from $24.3 million, or $1.22 per share.