Conference Call and Webcast
The company will host a conference call and webcast on September 5, 2024 to discuss its first quarter fiscal 2025 financial and operational results.
Speakers on the conference call will include Mark Smith, President and Chief Executive Officer, and Deana McPherson, Executive Vice President and Chief Financial Officer. The conference call may include forward-looking statements. The conference
call and webcast will begin at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Interested parties in North America are invited to participate by dialing 1-877-704-4453. Interested parties from outside North America are invited to participate by dialing
1-201-389-0920. Participants should dial in at least 10 minutes prior to the start of the call. The conference call audio
webcast can also be accessed live on the company’s website at www.smith-wesson.com, under the Investor Relations section.
Additional Details about the New Stock Repurchase Program
Our board of directors has approved a new stock repurchase program, pursuant to which purchases may be made from September 20, 2024 through
September 20, 2025. The amount and timing of any repurchases will depend on a number of factors, including price, trading volume, general market conditions, legal requirements, and other factors. The repurchases may be made on the open market,
in block trades, or in privately negotiated transactions. Any shares of common stock repurchased under the program will be considered issued but not outstanding shares of the company’s common stock.
Reconciliation of U.S. GAAP to Non-GAAP Financial Measures
In this press release, certain non-GAAP financial measures, including
“non-GAAP net income,” “Adjusted EBITDAS,” and “free cash flow” are presented. From time-to-time,
we consider and use these supplemental measures of operating performance in order to provide the reader with an improved understanding of underlying performance trends. We believe it is useful for us and the reader to review, as applicable, both
(1) GAAP measures that include (i) interest expense, (ii) income tax expense, (iii) depreciation and amortization, (iv) stock-based compensation expense, (v) spin related stock-based compensation, (vi) Relocation
expense, and (vii) the tax effect of non-GAAP adjustments; and (2) the non-GAAP measures that exclude such information. We present these non-GAAP measures because we consider them an important supplemental measure of our performance. Our definition of these adjusted financial measures may differ from similarly named measures used by others. We
believe these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. These non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for our GAAP measures. The principal limitations of these measures are that they do not reflect
our actual expenses and may thus have the effect of inflating its financial measures on a GAAP basis.
About Smith & Wesson Brands, Inc.
Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI) is a U.S.-based leader in firearm manufacturing and design, delivering a broad
portfolio of quality handgun, long gun, and suppressor products to the global consumer and professional markets under the iconic Smith & Wesson® and Gemtech® brands. The company also provides manufacturing services including forging, machining, and precision plastic injection molding services. For more information call (800) 331-0852 or visit www.smith-wesson.com.
Safe Harbor Statement
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and we intend that such
forward-looking statements be subject to the safe-harbor created thereby. Such forward-looking statements include, among others, (i) that our flexible manufacturing model allows us to adapt quickly to any market conditions and still deliver on
bottom-line profitability targets; (ii) our expectation that new capacity coming online for our popular new products, a strong pipeline of innovation, and the typically busy firearm demand season now upon us, will more than offset certain
temporary headwinds during the balance of the fiscal year; (iii) our expectation that our top and bottom line results will grow for the full year; (iv) our expectation that our second fiscal quarter sales will grow significantly over the
first quarter; (v) that we remain confident that our full year revenue will be up mid-to-high single digits compared to fiscal 2024; (vi) our belief that the amount
and timing of any repurchases under the new stock repurchase program will depend on a number of factors, including price, trading volume, general market conditions, legal requirements, and other factors; and (vii) our expectations regarding the
manner of the repurchases, if any. We caution that these statements are qualified by important risks, uncertainties, and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such
factors include, among others, economic, social, political, legislative, and regulatory factors; the results of the 2024 elections; the potential for increased regulation of firearms and firearm-related products; actions of social activists that
could have an adverse