$SWBI
SMITH & WESSON BRANDS, INC.

2020 Q3 Form 10-Q Financial Statement

#000156459020042517 Filed on September 03, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q3
Revenue $229.9M $233.6M $123.7M
YoY Change 85.89% 32.95% -10.93%
Cost Of Revenue $137.5M $152.3M $75.81M
YoY Change 81.32% 35.5% -12.27%
Gross Profit $92.42M $81.34M $47.85M
YoY Change 93.14% 28.37% -8.71%
Gross Profit Margin 40.2% 34.81% 38.7%
Selling, General & Admin $31.78M $45.50M $43.48M
YoY Change -26.92% 2.02% 20.45%
% of Gross Profit 34.38% 55.94% 90.86%
Research & Development $1.906M $3.000M $3.229M
YoY Change -40.97% -14.29% 14.91%
% of Gross Profit 2.06% 3.69% 6.75%
Depreciation & Amortization $12.90M $29.80M $14.30M
YoY Change -9.79% 108.39% 10.85%
% of Gross Profit 13.96% 36.64% 29.88%
Operating Expenses $33.68M $48.40M $46.71M
YoY Change -27.89% 0.83% 19.94%
Operating Profit $58.74M $32.94M $1.143M
YoY Change 5039.37% 114.41% -91.52%
Interest Expense -$1.316M -$2.700M -$2.600M
YoY Change -49.38% 8.0% 29.94%
% of Operating Profit -2.24% -8.2% -227.47%
Other Income/Expense, Net -$1.249M $0.00 -$2.622M
YoY Change -52.36% 29.87%
Pretax Income $57.49M -$68.40M -$1.479M
YoY Change -3987.36% -634.38% -112.91%
Income Tax $14.19M -$2.300M $629.0K
% Of Pretax Income 24.69%
Net Earnings $48.39M -$66.15M -$2.108M
YoY Change -2395.3% -773.24% -127.57%
Net Earnings / Revenue 21.05% -28.31% -1.7%
Basic Earnings Per Share $0.87 -$1.19 -$0.04
Diluted Earnings Per Share $0.86 -$1.19 -$0.04
COMMON SHARES
Basic Shares Outstanding 55.49M 55.52M 54.78M
Diluted Shares Outstanding 56.28M 54.78M

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.30M $125.0M $30.70M
YoY Change 112.7% 204.88% 21.83%
Cash & Equivalents $65.63M $125.0M $30.73M
Short-Term Investments
Other Short-Term Assets $11.00M $102.3M $9.400M
YoY Change 17.02% 1473.85% 1.08%
Inventory $149.6M $103.7M $195.4M
Prepaid Expenses
Receivables $101.4M $60.88M $70.24M
Other Receivables $600.0K $1.600M $2.200M
Total Short-Term Assets $327.9M $393.5M $307.9M
YoY Change 6.49% 31.73% 26.25%
LONG-TERM ASSETS
Property, Plant & Equipment $156.8M $157.4M $174.4M
YoY Change -10.08% -14.11% 0.9%
Goodwill $83.61M $19.02M $182.3M
YoY Change -54.13% -89.56% -4.67%
Intangibles $69.84M $4.375M $87.11M
YoY Change -19.83% -95.24%
Long-Term Investments
YoY Change
Other Assets $17.67M $16.44M $20.81M
YoY Change -15.06% 53.22% 80.94%
Total Long-Term Assets $330.3M $336.1M $464.5M
YoY Change -28.9% -28.21% -3.8%
TOTAL ASSETS
Total Short-Term Assets $327.9M $393.5M $307.9M
Total Long-Term Assets $330.3M $336.1M $464.5M
Total Assets $658.2M $729.5M $772.5M
YoY Change -14.8% -4.86% 6.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $53.83M $31.48M $29.55M
YoY Change 82.17% -11.54% -6.49%
Accrued Expenses $54.10M $38.60M $53.90M
YoY Change 0.37% -23.26% 1.13%
Deferred Revenue $8.010M $14.74M
YoY Change 20.72%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $1.000M $80.70M
YoY Change -98.76% -85.71% 1122.73%
Total Short-Term Liabilities $145.3M $130.0M $164.4M
YoY Change -11.64% 16.79% 75.13%
LONG-TERM LIABILITIES
Long-Term Debt $63.90M $198.8M $140.2M
YoY Change -54.42% 2.05% -25.43%
Other Long-Term Liabilities $11.88M $10.63M $15.09M
YoY Change -21.26% 64.69% 118.71%
Total Long-Term Liabilities $11.88M $10.63M $15.09M
YoY Change -21.26% 64.69% -92.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $145.3M $130.0M $164.4M
Total Long-Term Liabilities $11.88M $10.63M $15.09M
Total Liabilities $221.1M $342.4M $329.4M
YoY Change -32.88% 6.22% 9.73%
SHAREHOLDERS EQUITY
Retained Earnings $390.1M $341.7M $400.8M
YoY Change -2.68% -15.2%
Common Stock $269.3M $267.7M $264.3M
YoY Change 1.88% 1.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $222.4M $222.4M $222.4M
YoY Change 0.0% 0.0%
Treasury Stock Shares $18.17M $18.17M $18.17M
Shareholders Equity $437.1M $387.1M $443.1M
YoY Change
Total Liabilities & Shareholders Equity $658.2M $729.5M $772.5M
YoY Change -14.8% -4.86% 6.28%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q3
OPERATING ACTIVITIES
Net Income $48.39M -$66.15M -$2.108M
YoY Change -2395.3% -773.24% -127.57%
Depreciation, Depletion And Amortization $12.90M $29.80M $14.30M
YoY Change -9.79% 108.39% 10.85%
Cash From Operating Activities $84.23M $119.8M -$29.14M
YoY Change -389.07% 225.54% -373.88%
INVESTING ACTIVITIES
Capital Expenditures $6.465M -$3.900M $3.695M
YoY Change 74.97% -52.44% -46.6%
Acquisitions
YoY Change
Other Investing Activities $2.300M $0.00
YoY Change 1050.0%
Cash From Investing Activities -$7.647M -$1.700M -$3.818M
YoY Change 100.29% -78.48% -46.29%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $135.0M $1.575M
YoY Change 8471.43% -94.07%
Cash From Financing Activities -136.0M -39.00M 22.67M
YoY Change -699.69% 54.15% -183.5%
NET CHANGE
Cash From Operating Activities 84.23M 119.8M -29.14M
Cash From Investing Activities -7.647M -1.700M -3.818M
Cash From Financing Activities -136.0M -39.00M 22.67M
Net Change In Cash -59.38M 79.10M -10.28M
YoY Change 477.5% 2097.22% -56.47%
FREE CASH FLOW
Cash From Operating Activities $84.23M $119.8M -$29.14M
Capital Expenditures $6.465M -$3.900M $3.695M
Free Cash Flow $77.77M $123.7M -$32.83M
YoY Change -336.85% 174.89% -982.61%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
65271000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
30732000
CY2020Q3 us-gaap Interest Paid Net
InterestPaidNet
1556000
CY2019Q3 us-gaap Interest Paid Net
InterestPaidNet
1690000
CY2020Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
1689000
CY2019Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
235000
CY2020Q3 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1051000
CY2019Q3 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
547000
CY2020Q3 swbi Receivable For Exercise Of Options To Acquire Common Stock
ReceivableForExerciseOfOptionsToAcquireCommonStock
1250000
CY2020Q3 us-gaap Nature Of Operations
NatureOfOperations
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(1) Organization: </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We are a leading manufacturer, designer, and provider of consumer products for the shooting, hunting, and rugged outdoor enthusiast. 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 and suppressor markets. We are also a leading provider of shooting, hunting, and rugged outdoor products and accessories, including knives and cutting tools, sighting lasers, shooting supplies, tree saws, and survival gear. We have two reporting segments: (1) Firearm and (2) Outdoor Products &amp; Accessories.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In our Firearm segment, we manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting rifles, bolt action rifles, and muzzleloaders), handcuffs, suppressors, and other firearm-related products 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 sell our firearm products under the Smith &amp; Wesson, M&amp;P, Performance Center, Thompson/Center Arms, and Gemtech brands. We manufacture our firearm products at our facilities in Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut. We also sell our manufacturing services to other businesses to level-load our factories. We sell those services under our Smith &amp; Wesson and Smith &amp; Wesson Precision Components brands.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:2pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In our Outdoor Products &amp; Accessories segment, we are a leading provider of outdoor products and accessories encompassing hunting, fishing, camping, shooting, and personal security and defense products for rugged outdoor enthusiasts. We conceive, design, produce or source, and sell products and accessories, including shooting supplies, rests, vaults, and other related accessories; premium sportsman knives and tools for fishing and hunting; land management tools for hunting preparedness; harvesting products for post-hunt or post-fishing activities; electro-optical devices, including hunting optics, firearm aiming devices, flashlights, and laser grips; reloading, gunsmithing, and firearm cleaning supplies; and survival, camping, and emergency preparedness products. We develop and market our products at our facility in Columbia, Missouri and contract for the manufacture and assembly of most of our products with third parties located in Asia. We also manufacture some of our electro-optics products at our facility in Wilsonville, Oregon.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:2pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On November 13, 2019, we announced that we were proceeding with a plan to spin-off our outdoor products and accessories business, or the Separation, and create an independent publicly traded company to conduct that business. On August 24, 2020, we completed the previously announced Separation. See also Note 12 — <span style="font-style:italic;">Subsequent Events</span>, for more information. </p>
CY2020Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020Q3 us-gaap Basis Of Accounting
BasisOfAccounting
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(2) Basis of Presentation: </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Interim Financial Information –<span style="font-style:normal;"> The condensed consolidated balance sheets as of July 31, 2020, the condensed consolidated statements of income/(loss) and comprehensive income/(loss) for the three months ended July 31, 2020 and 2019, the condensed consolidated statements of changes in stockholders’ equity for the three months ended July 31, 2020 and 2019, and the condensed consolidated statements of cash flows for the three months ended July 31, 2020 and 2019 have been prepared by us without audit. In our opinion, all adjustments, which include only normal recurring adjustments necessary to fairly present the financial position, results of operations, changes in stockholders’ equity, and cash flows at July 31, 2020 and for the periods presented, have been included. All intercompany transactions have been eliminated in consolidation. The consolidated balance sheet as of April 30, 2020 has been derived from our audited consolidated financial statements. </span></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States, or GAAP, have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended April 30, 2020. The results of operations for the three months ended<span style="font-size:9pt;"> </span>July 31, 2020<span style="font-size:8pt;"> </span>may<span style="font-size:9pt;"> </span>not be indicative of the results that may be expected for the year ending April 30, 2021, or any other period. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Reclassification –<span style="font-style:normal;"> We have corrected the accompanying consolidated balance sheet as of April 30, 2020 to appropriately present deferred income taxes in the amount of $2.4 million as non-current assets that were previously included in current assets</span>.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Recently Issued Accounting Standards –<span style="font-style:normal;"> In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The new standard changes the impairment model for most financial assets that are measured at amortized cost and certain other instruments, including trade receivables, from an incurred loss model to an expected loss model and adds certain new required disclosures. Under the expected loss model, entities will recognize credit losses to be incurred over the entire contractual term of the instrument rather than delaying recognition of credit losses until it is probable the loss has been incurred. The requirements of this ASU are effective for financial statements for annual periods beginning after December 15, 2019, and early adoption is permitted. We adopted the new standard on May 1, 2020 and the adoption of this ASU did not have a material impact on our condensed consolidated financial statements. </span></p>
CY2020Q3 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Reclassification –<span style="font-style:normal;"> We have corrected the accompanying consolidated balance sheet as of April 30, 2020 to appropriately present deferred income taxes in the amount of $2.4 million as non-current assets that were previously included in current assets</span>.</p>
CY2020Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
2400000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10471000
CY2020Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
63484000
CY2020Q3 swbi Lessee Operating And Finance Lease Liability Payments Due
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDue
73955000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1261000
CY2020Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
22853000
CY2020Q3 swbi Lessee Operating And Finance Lease Liability Undiscounted Excess Amount
LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
24114000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
9210000
CY2020Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
40631000
CY2020Q3 swbi Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
49841000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2566000
CY2020Q3 swbi Operating Lease Right Of Use Asset Gross
OperatingLeaseRightOfUseAssetGross
10391000
CY2020Q3 swbi Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
2666000
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7725000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2566000
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6644000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
9210000
CY2020Q3 swbi Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
40986000
CY2020Q3 swbi Finance Lease Right Of Use Asset Accumulated Depreciation
FinanceLeaseRightOfUseAssetAccumulatedDepreciation
2622000
CY2020Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
38364000
CY2020Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1021000
CY2020Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
39610000
CY2020Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
40631000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
809000
CY2020Q3 swbi Short Term Operating Lease Cost
ShortTermOperatingLeaseCost
215000
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
510000
CY2020Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
524000
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2019Q3 swbi Short Term Operating Lease Cost
ShortTermOperatingLeaseCost
200000
CY2019Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
535000
CY2019Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
520000
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046
CY2020Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P18Y2M12D
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.050
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2290000
CY2020Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
2269000
CY2020Q3 swbi Lessee Operating And Finance Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingAndFinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
4559000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2855000
CY2020Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
3056000
CY2020Q3 swbi Lessee Operating And Finance Lease Liability Payments Due Year One
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearOne
5911000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2665000
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
3071000
CY2020Q3 swbi Lessee Operating And Finance Lease Liability Payments Due Year Two
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearTwo
5736000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1622000
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
3125000
CY2020Q3 swbi Lessee Operating And Finance Lease Liability Payments Due Year Three
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearThree
4747000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
353000
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
3180000
CY2020Q3 swbi Lessee Operating And Finance Lease Liability Payments Due Year Four
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueYearFour
3533000
CY2020Q3 swbi Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
686000
CY2020Q3 swbi Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
48783000
CY2020Q3 swbi Lessee Operating And Finance Lease Liability Payments Due After Year Four
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueAfterYearFour
49469000
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4200000
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4800000
CY2020Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
82621000
CY2020Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
111169000
CY2020Q3 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
48316000
CY2020Q2 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
32721000
CY2020Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
5798000
CY2020Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7037000
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
12832000
CY2020Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
13264000
CY2020Q3 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
149567000
CY2020Q2 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
164191000
CY2020Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
9398000
CY2020Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
21461000
CY2020Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
8010000
CY2020Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
14744000
CY2020Q3 swbi Accrued Rebates And Promotions Current
AccruedRebatesAndPromotionsCurrent
6322000
CY2020Q2 swbi Accrued Rebates And Promotions Current
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5189000
CY2020Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
5185000
CY2020Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
4705000
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4962000
CY2020Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4058000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2566000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2663000
CY2020Q3 swbi Accrued Distributor Incentives Current
AccruedDistributorIncentivesCurrent
2857000
CY2020Q2 swbi Accrued Distributor Incentives Current
AccruedDistributorIncentivesCurrent
2253000
CY2020Q3 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
1114000
CY2020Q2 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
967000
CY2020Q3 us-gaap Interest Payable Current
InterestPayableCurrent
12000
CY2020Q2 us-gaap Interest Payable Current
InterestPayableCurrent
349000
CY2020Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1021000
CY2020Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
996000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
8540000
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7217000
CY2020Q3 swbi Accrued Expenses And Deferred Revenue Current
AccruedExpensesAndDeferredRevenueCurrent
49987000
CY2020Q2 swbi Accrued Expenses And Deferred Revenue Current
AccruedExpensesAndDeferredRevenueCurrent
64602000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
48385000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55494000
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.87
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-2108000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54783000
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
783000
CY2020Q3 swbi Per Common Share Effect Of Dilutive Stock Awards
PerCommonShareEffectOfDilutiveStockAwards
-0.01
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
48385000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56277000
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-2108000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54783000
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3340
CY2020Q3 swbi Number Of Stock Option Plans
NumberOfStockOptionPlans
2
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
200667
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.70
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
267761
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.76
CY2020Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
190667
CY2020Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.96
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.65
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
267761
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.76
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y1M28D
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
770000
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y1M6D
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
10000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.65
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
267761
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.76
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y1M28D
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
212400
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
212400
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
770000
CY2019Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2800000
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
0
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
0
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1000000.0
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1600000
CY2020Q3 swbi Number Of Product Liability Cases
NumberOfProductLiabilityCases
6
CY2020Q3 swbi Number Of Other Product Liability Claims
NumberOfOtherProductLiabilityClaims
5
CY2020Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020Q3 us-gaap Assets
Assets
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CY2020Q2 us-gaap Assets
Assets
728961000
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
156785000
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
157417000
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
69842000
CY2020Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
73754000
CY2020Q3 us-gaap Goodwill
Goodwill
83605000
CY2020Q2 us-gaap Goodwill
Goodwill
83605000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
277965000
CY2020Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
161199000
CY2020Q3 us-gaap Gross Profit
GrossProfit
116766000
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
65452000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15902000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
123665000
CY2019Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
75811000
CY2019Q3 us-gaap Gross Profit
GrossProfit
47854000
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1143000
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
629000
CY2020Q3 swbi Business Separation Date
BusinessSeparationDate
2020-08-24
CY2020Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
one share of AOUT common stock for every four shares of our common stock
CY2020Q3 us-gaap Business Exit Costs1
BusinessExitCosts1
3600000
CY2020Q3 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2020-08-26
CY2020Q3 us-gaap Dividends Payable Nature
DividendsPayableNature
regular quarterly dividend
CY2020Q3 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.05
CY2020Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2020-09-17
CY2020Q3 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2020-10-01
CY2020Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2

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0001564590-20-042517.txt Edgar Link pending
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swbi-10q_20200731.htm Edgar Link pending
swbi-10q_20200731_htm.xml Edgar Link completed
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swbi-20200731_def.xml Edgar Link unprocessable
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