SANDY HOOK: GREAT NEWS FOR THE GUN INDUSTRY
- $739m+ sales surge since tragedy
- Freedom Group, Smith & Wesson, and Sturm, Ruger proudly boast of profits
- Each child killed at Sandy Hook = at least $36.9m to gun industry
- Each victim killed at Sandy Hook = at least $28.4m to gun industry
UPDATED: Figures updated to Dec 2013
To see how these facts were determined, access the original data here:
EVERY QUARTER since Newtown has seen RECORD SALES for Freedom Group, Smith & Wesson, and Sturm, Ruger when compared to every quarter before Newtown (as of July 31, 2013)
“It’s inherently a dangerous product… it’s going to have a devastating effect on anything in its path” – George Kollitides, CEO, Freedom Group
GUN INDUSTRY SALES SURGE CHARTS:
Question: How did gun industry executives react to the “Newtown quarter”?
Answer: They could barely contain their delight.
James Debney, CEO, Smith & Wesson
MARCH 05, 2013
“Continued success in executing on our growth strategy… We are extremely pleased with this result”
“An all-time record high in the history of the Company”
JUNE 25, 2013
“Fiscal 2013 was a year highlighted by several financial and operational achievements”
“We achieved record annual and fourth-quarter net sales and profits”
“Performance gains over the year were driven by strong consumer demand for our products, which we believe is due to heightened awareness”
“We excelled in a very dynamic market environment”
“A very dynamic and exciting time for the industry”
“We will focus on staying prepared as best we can for changes in the marketplace, no matter what the drivers are.”
Jeff Buchanan, CFO, Smith & Wesson
MARCH 05, 2013
“In this environment you don’t really need to do a lot of promotions or advertising or any kind of marketing programs”
Mike Fifer, CEO, Sturm, Ruger
FEBRUARY 28, 2013
“We believe that the strong demand for our products was due to […] the overall increase in the firearms industry, which was largely attributable to new shooters joining the ranks of gun owners and the current political environment.”
“Unprecedented financial results”
Question put to Mike Fifer by Ray Asmar, Summit Brokerage – Analyst
“Can you talk a little bit about your smart gun? Obviously, you want to reduce the misuse of guns, maybe through this RFID technology or maybe fingerprints? Because I would think if you took the lead that way, with everything that is going on in the political environment, you might look like heroes. Can you talk a little bit about if you are doing anything with that whole concept?”
“Some portion of them [new shooters] will go just beyond that first self-defense gun and will realize just how much fun it is and start acquiring additional firearms”
“[The wholesalers’] inventory went down 70,000 and some units, which was a huge percentage of their overall inventory. Shame on them — they should’ve had much more in inventory to take advantage of political opportunities.”
“There isn’t an industry in America that wouldn’t be thrilled and delighted to see their underlying demand grow 16% in a quarter”
Freedom Group 2012 Annual Report (Dec 31, 2012):
NOT A SINGLE mention of “Newtown” or “Sandy Hook” in the entirety of the 116 page report for 2012.
“We believe our scale and product breadth are unmatched within our industry, with approximately 1.4 million long guns and 2.1 billion rounds of ammunition sold during the year ended December 31, 2012.”
GUN INDUSTRY CEOS DELIGHTED AT SANDY HOOK PROFITS
As shown above, gun industry CEOs have been unable to conceal their genuine delight at the revenue surge produced by the Newtown tragedy.
They appear completely at ease with the fact they are directly profiting from the deaths of twenty 6-year-old children.
Their only concern: Have we done enough as an industry to fully exploit the tragedy and realize maximum revenue?
We, the People, ask James Debney, Mike Fifer and George Kollitides:
1) How much of this blood money will go to the victims’ families?
2) How much will you pay of the $630m+ healthcare costs each year caused by your products and currently picked up by the taxpayer?
3) When will you start actively supporting strong gun laws?
It’s time for the gun industry to take responsibility for the enormous damage their products inflict on Americans every day, killing and wounding men, women and children all across this country.
GUN INDUSTRY CEO CONTACT DETAILS:
Contact these CEOs today to demand that they work proactively with the government to support common-sense gun laws, which are already supported by the vast majority of gun owners and Americans.
It’s time to choose kids, not profits.
James Debney, CEO
Smith & Wesson Corporation
2100 Roosevelt Ave, Springfield, MA
Mike Fifer, CEO,
Sturm Ruger & Co Inc
1 Lacey Pl, Southport, CT