$SWBI
SMITH & WESSON BRANDS, INC.

2014 Q3 Form 10-Q Financial Statement

#000119312514321638 Filed on August 26, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $131.9M $171.0M
YoY Change -22.89% 25.75%
Cost Of Revenue $82.75M $98.25M
YoY Change -15.77% 15.9%
Gross Profit $49.12M $72.77M
YoY Change -32.51% 42.06%
Gross Profit Margin 37.25% 42.55%
Selling, General & Admin $21.99M $23.40M
YoY Change -6.05% 24.75%
% of Gross Profit 44.76% 32.16%
Research & Development $1.457M $1.358M
YoY Change 7.29% 15.87%
% of Gross Profit 2.97% 1.87%
Depreciation & Amortization $6.105M $5.683M
YoY Change 7.43% 42.61%
% of Gross Profit 12.43% 7.81%
Operating Expenses $23.44M $24.76M
YoY Change -5.32% 24.22%
Operating Profit $25.68M $48.01M
YoY Change -46.53% 53.42%
Interest Expense $1.984M $6.673M
YoY Change -70.27% 235.83%
% of Operating Profit 7.73% 13.9%
Other Income/Expense, Net -$1.966M -$6.566M
YoY Change -70.06% 305.56%
Pretax Income $23.71M $41.45M
YoY Change -42.8% 39.66%
Income Tax $9.153M $14.92M
% Of Pretax Income 38.61% 36.0%
Net Earnings $14.56M $26.48M
YoY Change -45.02% 48.86%
Net Earnings / Revenue 11.04% 15.48%
Basic Earnings Per Share $0.27 $0.41
Diluted Earnings Per Share $0.26 $0.40
COMMON SHARES
Basic Shares Outstanding 54.83M shares 64.24M shares
Diluted Shares Outstanding 56.15M shares 65.62M shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $83.50M $143.1M
YoY Change -41.65% 150.17%
Cash & Equivalents $83.46M $146.5M
Short-Term Investments
Other Short-Term Assets $25.10M $22.50M
YoY Change 11.56% -15.09%
Inventory $101.3M $63.23M
Prepaid Expenses
Receivables $53.41M $53.76M
Other Receivables $0.00 $4.500M
Total Short-Term Assets $263.3M $287.2M
YoY Change -8.33% 43.66%
LONG-TERM ASSETS
Property, Plant & Equipment $133.6M $93.88M
YoY Change 42.3% 48.54%
Goodwill $14.01M
YoY Change
Intangibles $4.259M $3.759M
YoY Change 13.3%
Long-Term Investments
YoY Change
Other Assets $20.64M $14.06M
YoY Change 46.82% 155.55%
Total Long-Term Assets $172.5M $111.7M
YoY Change 54.44% 53.0%
TOTAL ASSETS
Total Short-Term Assets $263.3M $287.2M
Total Long-Term Assets $172.5M $111.7M
Total Assets $435.8M $398.9M
YoY Change 9.25% 46.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.87M $33.53M
YoY Change 6.98% 32.55%
Accrued Expenses $14.96M $44.00M
YoY Change -66.0% 4.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.700M
YoY Change 0.0%
Total Short-Term Liabilities $85.56M $83.89M
YoY Change 1.99% 2.94%
LONG-TERM LIABILITIES
Long-Term Debt $175.0M $100.0M
YoY Change 75.0% 129.36%
Other Long-Term Liabilities $11.03M $12.53M
YoY Change -11.94% 11.83%
Total Long-Term Liabilities $11.03M $12.53M
YoY Change -11.94% -77.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $85.56M $83.89M
Total Long-Term Liabilities $11.03M $12.53M
Total Liabilities $282.8M $204.3M
YoY Change 38.43% 45.09%
SHAREHOLDERS EQUITY
Retained Earnings $112.3M $34.91M
YoY Change 221.66%
Common Stock $212.9M $202.0M
YoY Change 5.41%
Preferred Stock
YoY Change
Treasury Stock (at cost) $172.3M $42.39M
YoY Change 306.53%
Treasury Stock Shares 15.56M shares 4.717M shares
Shareholders Equity $153.0M $194.6M
YoY Change
Total Liabilities & Shareholders Equity $435.8M $398.9M
YoY Change 9.25% 46.16%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $14.56M $26.48M
YoY Change -45.02% 48.86%
Depreciation, Depletion And Amortization $6.105M $5.683M
YoY Change 7.43% 42.61%
Cash From Operating Activities $10.78M $19.01M
YoY Change -43.3% 104.88%
INVESTING ACTIVITIES
Capital Expenditures $14.59M $12.04M
YoY Change 21.21% 91.7%
Acquisitions $24.10M
YoY Change
Other Investing Activities -$24.10M $0.00
YoY Change -100.0%
Cash From Investing Activities -$38.70M -$12.05M
YoY Change 221.26% 1514.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $30.04M $15.99M
YoY Change 87.83%
Debt Paid & Issued, Net $43.88M
YoY Change 533.59%
Cash From Financing Activities 42.51M 39.00M
YoY Change 9.0% -928.6%
NET CHANGE
Cash From Operating Activities 10.78M 19.01M
Cash From Investing Activities -38.70M -12.05M
Cash From Financing Activities 42.51M 39.00M
Net Change In Cash 14.60M 45.97M
YoY Change -68.24% 1101.46%
FREE CASH FLOW
Cash From Operating Activities $10.78M $19.01M
Capital Expenditures $14.59M $12.04M
Free Cash Flow -$3.808M $6.976M
YoY Change -154.59% 132.46%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
53441528 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.33
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2109576 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.30
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2907660 shares
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
146455000
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
14500000
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
19700000
CY2014Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
68989945 shares
CY2014Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
53427323 shares
CY2014Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.24
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1892631 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.23
CY2014Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
15562622 shares
CY2014Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2014Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2158795 shares
CY2014Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5160000
CY2014Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2014Q3 us-gaap Liabilities Current
LiabilitiesCurrent
85563000
CY2014Q3 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
12310000
CY2014Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
4125000
CY2014Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
175000000
CY2014Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
1100000
CY2014Q3 us-gaap Common Stock Value
CommonStockValue
69000
CY2014Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
73000
CY2014Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
35874000
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
112295000
CY2014Q3 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
11204000
CY2014Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
212845000
CY2014Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14958000
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
152959000
CY2014Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
11029000
CY2014Q3 us-gaap Litigation Reserve Current
LitigationReserveCurrent
996000
CY2014Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
435755000
CY2014Q3 us-gaap Liabilities
Liabilities
282796000
CY2014Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7800000
CY2014Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
850000
CY2014Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
4340000
CY2014Q3 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
623000
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
83458000
CY2014Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
188000
CY2014Q3 us-gaap Goodwill
Goodwill
14013000
CY2014Q3 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
51837000
CY2014Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
133585000
CY2014Q3 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
101317000
CY2014Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8197000
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
12200000
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
13800000
CY2014Q3 us-gaap Escrow Deposit
EscrowDeposit
3000000
CY2014Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
36522000
CY2014Q3 us-gaap Assets
Assets
435755000
CY2014Q3 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
16880000
CY2014Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
6707000
CY2014Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
53411000
CY2014Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
4259000
CY2014Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
20635000
CY2014Q3 us-gaap Treasury Stock Value
TreasuryStockValue
172323000
CY2014Q3 us-gaap Assets Current
AssetsCurrent
263263000
CY2014Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
990000
CY2014Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
6251000
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.31
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3019127 shares
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
100487000
CY2014Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
68809986 shares
CY2014Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
55352679 shares
CY2014Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.15
CY2014Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
13457307 shares
CY2014Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2014Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2258349 shares
CY2014Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5513000
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2014Q2 us-gaap Liabilities Current
LiabilitiesCurrent
92543000
CY2014Q2 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
11060000
CY2014Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
100000000
CY2014Q2 us-gaap Common Stock Value
CommonStockValue
69000
CY2014Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
73000
CY2014Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
37688000
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
97739000
CY2014Q2 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
11418000
CY2014Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
211225000
CY2014Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16051000
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
166823000
CY2014Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
10719000
CY2014Q2 us-gaap Litigation Reserve Current
LitigationReserveCurrent
1056000
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
381503000
CY2014Q2 us-gaap Liabilities
Liabilities
214680000
CY2014Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15816000
CY2014Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
844000
CY2014Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
5359000
CY2014Q2 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
623000
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68860000
CY2014Q2 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
47109000
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
120440000
CY2014Q2 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
86742000
CY2014Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5958000
CY2014Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
26523000
CY2014Q2 us-gaap Assets
Assets
381503000
CY2014Q2 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
17094000
CY2014Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
5467000
CY2014Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
55890000
CY2014Q2 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
4627000
CY2014Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3425000
CY2014Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
18467000
CY2014Q2 us-gaap Treasury Stock Value
TreasuryStockValue
142283000
CY2014Q2 us-gaap Assets Current
AssetsCurrent
239171000
CY2014Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7643000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2013Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.81
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1387000 shares
CY2013Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
19011000
CY2013Q3 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
156000
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.40
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2013Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y10M24D
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65622000 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.41
CY2013Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y26D
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2013Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
111467 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64235000 shares
CY2013Q3 us-gaap Gross Profit
GrossProfit
72773000
CY2013Q3 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
150000
CY2013Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
43876000
CY2013Q3 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
4598000
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-49000
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
171020000
CY2013Q3 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
234000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
48014000
CY2013Q3 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-74000
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-6566000
CY2013Q3 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
2246000
CY2013Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
16329000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
41448000
CY2013Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-52000
CY2013Q3 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
41000
CY2013Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15993000
CY2013Q3 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3167000
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000
CY2013Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
26526000
CY2013Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12035000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
26477000
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
102000
CY2013Q3 us-gaap Interest Paid
InterestPaid
4573000
CY2013Q3 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7476000
CY2013Q3 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
1499000
CY2013Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5683000
CY2013Q3 us-gaap Interest Expense
InterestExpense
6673000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
24759000
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1358000
CY2013Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7548000
CY2013Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
98247000
CY2013Q3 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-749000
CY2013Q3 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1000000
CY2013Q3 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
45968000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14922000
CY2013Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12045000
CY2013Q3 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
19000
CY2013Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
12000
CY2013Q3 us-gaap Proceeds And Excess Tax Benefit From Sharebased Compensation
ProceedsAndExcessTaxBenefitFromSharebasedCompensation
81000
CY2013Q3 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
311000
CY2013Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
39002000
CY2013Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
534000
CY2013Q3 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
2848000
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15853000
CY2013Q3 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2314000
CY2013Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2202000
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
584000
CY2013Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-3000
CY2013Q3 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-5132000
CY2013Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
101584000
CY2013Q3 swhc Taxes Paid Related To Restricted Stock Issuance
TaxesPaidRelatedToRestrictedStockIssuance
-11000
CY2013Q3 swhc Increase Decrease In Estimated Litigation Liability
IncreaseDecreaseInEstimatedLitigationLiability
72000
CY2013Q3 swhc Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
-192000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2014Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.25
CY2014Q3 dei Document Type
DocumentType
10-Q
CY2014Q3 dei Entity Registrant Name
EntityRegistrantName
Smith & Wesson Holding Corporation
CY2014Q3 dei Trading Symbol
TradingSymbol
SWHC
CY2014Q3 us-gaap Loss Contingency Allegations
LossContingencyAllegations
The lawsuit is based principally on a theory of breach of fiduciary duties arising from a 2007 class action lawsuit that has since been dismissed with prejudice.
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1316000 shares
CY2014Q3 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2014Q3 us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>(1)&#xA0;Organization:</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> We are one of the world&#x2019;s leading manufacturers of firearms. We manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting, bolt action, and single shot rifles), handcuffs, and firearm-related products and accessories for sale to a wide variety of customers, including gun enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement and security agencies and officers, and military agencies in the United States and throughout the world. We are one of the largest manufacturers of handguns, modern sporting rifles, and handcuffs in the United States and an active participant in the hunting rifle market. We sell our products under the Smith&#xA0;&amp; Wesson<sup style="font-size:85%; vertical-align:top">&#xAE;</sup>, M&amp;P<sup style="font-size:85%; vertical-align:top">&#xAE;</sup>, and Thompson/Center Arms<sup style="font-size:85%; vertical-align:top">TM</sup> brands.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> We manufacture our firearm products at our facilities in Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut. We plan to continue to offer products that leverage the over 160 year old &#x201C;Smith&#xA0;&amp; Wesson&#x201D; brand and capitalize on the goodwill developed through our historic American tradition by expanding consumer awareness of the products we produce.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> On May&#xA0;5, 2014, we purchased substantially all of the net assets of Tri Town Precision Plastics, Inc., or TTPP. See note 3 &#x2013; <i>Asset Purchase</i> below for more information regarding this transaction.</p> </div>
CY2014Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10780000
CY2014Q3 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
-353000
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.26
CY2014Q3 dei Document Period End Date
DocumentPeriodEndDate
2014-07-31
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2014Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y9M26D
CY2014Q3 dei Amendment Flag
AmendmentFlag
false
CY2014Q3 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--04-30
CY2014Q3 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56145000 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.27
CY2014Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y7M6D
CY2014Q3 dei Entity Central Index Key
EntityCentralIndexKey
0001092796
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2014Q3 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
99554 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54829000 shares
CY2014Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-444000
CY2014Q3 us-gaap Gross Profit
GrossProfit
49118000
CY2014Q3 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
150000
CY2014Q3 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
110000
CY2014Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-62000
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
131869000
CY2014Q3 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
11601000
CY2014Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
424000
CY2014Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
24095000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
25770000
CY2014Q3 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
88000
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1966000
CY2014Q3 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
2239000
CY2014Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
639000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
23804000
CY2014Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-95000
CY2014Q3 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
34000
CY2014Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
30040000
CY2014Q3 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2337000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000
CY2014Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
14618000
CY2014Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14588000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
14556000
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
24000
CY2014Q3 us-gaap Interest Paid
InterestPaid
3010000
CY2014Q3 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5213000
CY2014Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1579000
CY2014Q3 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
61000
CY2014Q3 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-8752000
CY2014Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6105000
CY2014Q3 us-gaap Interest Expense
InterestExpense
1984000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
23348000
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1457000
CY2014Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7947000
CY2014Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
82751000
CY2014Q3 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-1019000
CY2014Q3 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
460000
CY2014Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
30040000
CY2014Q3 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
14598000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9186000
CY2014Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-38696000
CY2014Q3 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
21000
CY2014Q3 us-gaap Proceeds And Excess Tax Benefit From Sharebased Compensation
ProceedsAndExcessTaxBenefitFromSharebasedCompensation
61000
CY2014Q3 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-1121000
CY2014Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
42514000
CY2014Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
424000
CY2014Q3 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
1250000
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13944000
CY2014Q3 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2184000
CY2014Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1579000
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000
CY2014Q3 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-33000
CY2014Q3 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-8377000
CY2014Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
75000000
CY2014Q3 swhc Percentage Of Stock Outperform In Order For Target Award To Be Earned
PercentageOfStockOutperformInOrderForTargetAwardToBeEarned
0.10 pure
CY2014Q3 swhc Number Of Product Liability Cases
NumberOfProductLiabilityCases
10 Case
CY2014Q3 swhc Taxes Paid Related To Restricted Stock Issuance
TaxesPaidRelatedToRestrictedStockIssuance
-444000
CY2014Q3 swhc Goodwill Amortization Period For Tax Purpose
GoodwillAmortizationPeriodForTaxPurpose
P15Y
CY2014Q3 swhc Number Of Stock Option Plans
NumberOfStockOptionPlans
2 OptionPlan
CY2014Q3 swhc Maximum Consolidated Coverage Ratio
MaximumConsolidatedCoverageRatio
3.00 pure
CY2014Q3 swhc Civil Penalties
CivilPenalties
2000000
CY2014Q3 swhc Increase Decrease In Estimated Litigation Liability
IncreaseDecreaseInEstimatedLitigationLiability
-60000
CY2014Q3 swhc Number Of Other Product Liability Claims
NumberOfOtherProductLiabilityClaims
8 Claim
CY2014Q3 swhc Share Based Compensation Percentage Of Target Award Granted For Calculating Maximum Aggregate Award Of Performance Share
ShareBasedCompensationPercentageOfTargetAwardGrantedForCalculatingMaximumAggregateAwardOfPerformanceShare
2.00 pure
CY2014Q3 swhc Share Based Compensation Arrangement By Share Based Payment Award Performance Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformancePeriod
P3Y
CY2014Q3 swhc Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
17000

Files In Submission

Name View Source Status
0001193125-14-321638-index-headers.html Edgar Link pending
0001193125-14-321638-index.html Edgar Link pending
0001193125-14-321638.txt Edgar Link pending
0001193125-14-321638-xbrl.zip Edgar Link pending
d769074d10q.htm Edgar Link pending
d769074dex311.htm Edgar Link pending
d769074dex312.htm Edgar Link pending
d769074dex321.htm Edgar Link pending
d769074dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
swhc-20140731.xml Edgar Link completed
swhc-20140731.xsd Edgar Link pending
swhc-20140731_cal.xml Edgar Link unprocessable
swhc-20140731_def.xml Edgar Link unprocessable
swhc-20140731_lab.xml Edgar Link unprocessable
swhc-20140731_pre.xml Edgar Link unprocessable