(GunReports.com) — Sturm, Ruger & Company, Inc. (NYSE: RGR) , announced last week that for 2011, the company reported net sales of $328.8 million and fully diluted earnings of $2.09 per share, compared with sales of $255.2 million and fully diluted earnings of $1.46 per share in 2010.
Chief Executive Officer Michael O. Fifer made the following comments related to the Company’s results:
- Earnings increased 42% in 2011, driven by the 29% growth in sales.
- In 2011, new product introductions were a significant component of Ruger sales growth as new product sales represented $98.6 million or 30% of sales in 2011.
- The estimated sell-through of Ruger products from independent distributors to retailers in 2011 increased 20% from 2010.
- Cash generated from operations during 2011 was $57.4 million. At December 31, 2011, cash and cash equivalents totaled $81.1 million, an increase of $23.5 million from December 2010.
- In May 2011, the company announced the Ruger Million Gun Challenge to benefit the National Rifle Association. Ruger pledged to donate $1 to the NRA for every Ruger firearm sold from April 2011 through March 2012, with the goal of selling one million Ruger firearms and donating $1 million to the NRA. Through December 2011, Ruger has donated $871,100 to the NRA.
