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Sturm Ruger earnings soar on new product sales

Prashanth PerumalFeb 23, 2017, 17:59 IST

Chris Patrie looks at the Benelli display of shotguns during the NRA Annual Meetings and Exhibits April 13, 2012Whitney Curtis/Getty Images

Sturm Ruger posted solid earnings growth in fourth-quarter of 2016. The company announced diluted earnings of $1.10 per share - compared to fourth quarter 2015 earnings of $0.88 per share - and net sales of $161.8 million.

The company declared a dividend of $0.44 per share, almost 40% of the quarter's earnings.

The stock gained over 2% in after-hours trading on Wednesday.

For 2016 as a whole, the firearms manufacturer earned $4.59 per share compared to $3.21 per share in 2015-a 43% increase.

Net sales increased 21% during the year, boosted by new product sales that represented 29% of all sales (as against 21% in 2015). Over the year, the company returned $47 million to shareholders through dividends and buybacks.

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