$SWBI
SMITH & WESSON BRANDS, INC.

2014 Q1 Form 10-Q Financial Statement

#000119312514082293 Filed on March 04, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $145.9M $136.2M
YoY Change 7.07% 38.85%
Cost Of Revenue $87.23M $86.31M
YoY Change 1.07% 26.7%
Gross Profit $58.65M $49.93M
YoY Change 17.46% 66.42%
Gross Profit Margin 40.2% 36.65%
Selling, General & Admin $26.08M $20.93M
YoY Change 24.57% 11.77%
% of Gross Profit 44.46% 41.92%
Research & Development $1.456M $952.0K
YoY Change 52.94% -4.03%
% of Gross Profit 2.48% 1.91%
Depreciation & Amortization $4.900M $3.900M
YoY Change 25.64% 14.71%
% of Gross Profit 8.35% 7.81%
Operating Expenses $27.53M $21.88M
YoY Change 25.8% 10.97%
Operating Profit $31.12M $28.05M
YoY Change 10.95% 172.73%
Interest Expense $1.771M $1.240M
YoY Change 42.82% -23.88%
% of Operating Profit 5.69% 4.42%
Other Income/Expense, Net -$1.744M -$1.192M
YoY Change 46.31% -2.85%
Pretax Income $29.38M $26.86M
YoY Change 9.38% 196.52%
Income Tax $9.319M $9.350M
% Of Pretax Income 31.72% 34.82%
Net Earnings $20.79M $14.58M
YoY Change 42.6% 228.44%
Net Earnings / Revenue 14.25% 10.7%
Basic Earnings Per Share $0.37 $0.22
Diluted Earnings Per Share $0.36 $0.22
COMMON SHARES
Basic Shares Outstanding 55.58M shares 65.15M shares
Diluted Shares Outstanding 57.02M shares 66.42M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.30M $58.70M
YoY Change -22.83% 162.05%
Cash & Equivalents $45.29M $62.00M
Short-Term Investments
Other Short-Term Assets $18.80M $21.80M
YoY Change -13.76% -23.51%
Inventory $86.81M $69.21M
Prepaid Expenses
Receivables $52.66M $38.87M
Other Receivables $8.600M $5.800M
Total Short-Term Assets $212.2M $194.3M
YoY Change 9.2% 20.33%
LONG-TERM ASSETS
Property, Plant & Equipment $108.7M $77.81M
YoY Change 39.76% 24.89%
Goodwill
YoY Change
Intangibles $3.511M $4.075M
YoY Change -13.84%
Long-Term Investments
YoY Change
Other Assets $21.66M $5.333M
YoY Change 306.08% -11.12%
Total Long-Term Assets $133.9M $87.22M
YoY Change 53.54% 14.31%
TOTAL ASSETS
Total Short-Term Assets $212.2M $194.3M
Total Long-Term Assets $133.9M $87.22M
Total Assets $346.1M $281.5M
YoY Change 22.93% 18.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.38M $24.38M
YoY Change 86.15% -7.66%
Accrued Expenses $10.83M $38.40M
YoY Change -71.8% 6.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $800.0K $400.0K
YoY Change 100.0% 0.0%
Total Short-Term Liabilities $88.22M $68.05M
YoY Change 29.64% -1.66%
LONG-TERM LIABILITIES
Long-Term Debt $100.0M $43.60M
YoY Change 129.36% -12.8%
Other Long-Term Liabilities $11.10M $10.78M
YoY Change 2.94% -12.34%
Total Long-Term Liabilities $11.10M $10.78M
YoY Change 2.94% -82.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $88.22M $68.05M
Total Long-Term Liabilities $11.10M $10.78M
Total Liabilities $207.2M $126.9M
YoY Change 63.23% -7.22%
SHAREHOLDERS EQUITY
Retained Earnings $72.68M -$16.73M
YoY Change -534.4%
Common Stock $208.5M $197.7M
YoY Change 5.45%
Preferred Stock
YoY Change
Treasury Stock (at cost) $142.3M $26.40M
YoY Change 439.03%
Treasury Stock Shares 13.46M shares 3.300M shares
Shareholders Equity $138.9M $154.6M
YoY Change
Total Liabilities & Shareholders Equity $346.1M $281.5M
YoY Change 22.93% 18.39%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $20.79M $14.58M
YoY Change 42.6% 228.44%
Depreciation, Depletion And Amortization $4.900M $3.900M
YoY Change 25.64% 14.71%
Cash From Operating Activities $30.20M $33.00M
YoY Change -8.48% 220.39%
INVESTING ACTIVITIES
Capital Expenditures -$22.60M -$12.50M
YoY Change 80.8% 212.5%
Acquisitions
YoY Change
Other Investing Activities $100.0K $1.100M
YoY Change -90.91% 120.0%
Cash From Investing Activities -$22.60M -$11.50M
YoY Change 96.52% 228.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.30M -20.70M
YoY Change -26.09% -31.46%
NET CHANGE
Cash From Operating Activities 30.20M 33.00M
Cash From Investing Activities -22.60M -11.50M
Cash From Financing Activities -15.30M -20.70M
Net Change In Cash -7.700M 800.0K
YoY Change -1062.5% -103.42%
FREE CASH FLOW
Cash From Operating Activities $30.20M $33.00M
Capital Expenditures -$22.60M -$12.50M
Free Cash Flow $52.80M $45.50M
YoY Change 16.04% 218.18%

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dei Trading Symbol
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SWHC
dei Entity Registrant Name
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SMITH & WESSON HOLDING CORP
dei Entity Central Index Key
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0001092796
dei Current Fiscal Year End Date
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--04-30
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dei Document Type
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dei Document Period End Date
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0.37
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.36
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57024000 shares
CY2014Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1441000 shares
CY2014Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.36
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
CY2014Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.35
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55583000 shares
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
145881000
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
728000
CY2014Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
33000
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
29376000
CY2014Q1 us-gaap Gross Profit
GrossProfit
58651000
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
31120000
CY2014Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
20057000
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1744000
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9319000
CY2014Q1 us-gaap Interest Expense
InterestExpense
1771000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
20785000
CY2014Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-75000
CY2014Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
87230000
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17154000
CY2014Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
8921000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
27531000
CY2014Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-803000
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1456000
CY2014Q1 swhc Self Insurance Reserves Expense
SelfInsuranceReservesExpense
3400000

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