Smith & Wesson Is Getting Crushed

In morning trade, shares are down nearly 10%.

For its fiscal-year 2015, the company said sales are expected to be between $585 million and $600 million. Analysts were expecting sales of more than $620 million.

For its just-completed fiscal year, the company reported record sales of $626.6 million.

Smith & Wesson also reported fiscal year profit of $1.49 per share, and said that next year it should earn between $1.30 and $1.40 per share.

In the fourth quarter, Smith & Wesson reported profit of $25 million, or $0.44 per share, on revenue of $170.4 million.

This is the second straight quarter the stock is having a huge swing after its earnings. In March, shares surged more than 16% after the company's third quarter results beat expectations and the company raised its outlook.

Smith & Wesson reiterated on its conference call that longer-term, it plans to grow 8% to 10% and said on the call that it believes the firearms industry is, "in the midst of a long-term and sustainable growth trend."

In 2013, total firearm background checks hit a record high, according to data from the FBI.