- The Washington Times - Tuesday, January 5, 2016

Smith & Wesson shares have surged for the second day Tuesday, driven higher by new gun control measures announced by President Obama.

Shares of Smith & Wesson Holding Corp., the world’s largest gunmaker, rose 12 percent Tuesday, following a nearly 6 percent gain on Monday, after news of Obama’s plans to tighten U.S. gun laws was reported last week.

On Monday evening, management announced that it was raising its guidance because sales had been unexpectedly strong, Business Insider reported.

For the three months ending Jan. 31, Smith & Wesson estimates that it will have $175 million to $180 million in sales, up from its earlier guidance of $150 million to $155 million.

Earnings per share is estimated to come in at $0.39 to $0.41, far exceeding the previous estimate of $0.27 to $0.29, Business Insider reported.

According to a company press release, consumers are buying guns faster than merchants can restock store shelves.

The gunmaker has previously credited the Obama administration for its booming business. In August, management said, “We experienced strong consumer demand for our firearm products following a new administration taking office in Washington, D.C., in 2009,” Business Insider reported.

According to the FBI, 2015 was a record year for gun background checks, an indicator of gun sale trends in the U.S.

The president announced Tuesday that he’s imposing new gun regulations by executive order, including a crackdown on gun dealers who bill themselves as “collectors” or “personal sellers” but are actually engaged in the business of firearms sales. He said the administration will also provide more funding for mental health treatment, FBI staff and the Bureau of Alcohol, Tobacco, Firearms and Explosives agents.

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