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Gun Sales for Sturm Ruger Highest since 1990-Profit 25 yr. High
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[quote:Hard Eight:MV8yMzA5Mjc3XzM5MzM5MDc2XzhEQzVERjNE] The gun maker credited the "current political environment" for creating strong demand for guns. President Barack Obama and some lawmakers called for tougher gun laws after a shooting in December left 20 children dead at a school in Newtown, Conn. A proposal to expand background checks failed in the Senate. In a regulatory filing, [b]the company said that 525,600 guns were ordered in the quarter, up from 291,000 in the same period last year. [/b]The average sales price was $306, up from $280 a year ago. http://www.cnbc.com/id/100929761 [/quote]
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Sturm, Ruger & Co. (RGR) defied concern that the fading debate over gun control would crimp demand for firearms with its highest quarterly sales since at least 1990.
The largest publicly traded U.S. firearms maker is seeing “true demand” as the federal gun-control push fades.
Its annual profit surged to a 25-year high in 2012 as buyers stocked up amid rising momentum for new laws.
Sturm Ruger said second-quarter net income jumped 79 percent to $32.3 million, or $1.63 a share, from $18 million, or 91 cents, a year earlier.
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