Categories
news

Ruger Posts 79% Earnings Increase

Ruger logoSturm, Ruger & Company announced net sales of nearly $180 million for the quarter ending June 30, which represents an earnings increase of 79% compared to the same quarter in 2012.  The company reported fully diluted earnings of $1.63/share compared to 91¢/share for the same quarter last year.

From January 1 – June 29, 2013, the company reported net sales of more than $335 million – up more than $100 million when compared to the first half of 2012.

Ruger attributed new product introductions as a “significant component” of the sales growth, citing new product sales represented $102.7 million of firearms sales in the first half of 2013.  The LC380 and SR45 pistols were specifically mentioned as being part of that sales growth.

Categories
news

Ruger to Open Third Plant – Expansion for New Guns

Ruger Plant ExpansionRuger is expanding.

Sturm, Ruger & Co is in the process of opening a third production plant to expand manufacturing capacity, and company president and CEO Michael O. Fifer wants to do it quickly.

“We’re running out of space,” said Fifer in the company’s annual shareholder meeting on April 30.

According to Fifer, Ruger will use the new facility to build new lines of firearms, not to expand production of current firearms.  Fifer stated he expects the new facility would build about ten completely new firearm lines.

To show how much growth Ruger has experienced, consider the number of employees employed at the Prescott, AZ manufacturing facility.  On the weekly Gun Talk radio program, Ken Jorgensen, Director of Media Relations for Ruger, told host Tom Gresham that there were about 150 employees at the plant in 2008.  Currently, there are about 750.

An existing, high-quality facility is what Ruger would like to find.  “I don’t have any desire to build something,” said Fifer.  He stated that there is more risk in building something, and he would prefer to get the new plant up and running “very quickly.”

Ideally, the facility would be of newer construction, about 250,000 square feet in size, and have a “phenomenal electrical [system] in it.”  Fifer stated the company would prefer not to be in an industrial park.