As ‘defund the police’ movement spread, Smith & Wesson gun company hit first billion-dollar sales year

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This article contains editorial content written by a retired Chief of Police and current staff writer for Law Enforcement Today.

SPRINGFIELD, MA- On behalf of Law Enforcement Today, we would like to congratulate firearms manufacturer Smith & Wesson for their first billion-dollar sales year. We would also like to congratulate Joe Biden and the neo-Marxist Democrats for being the top firearms salespeople for the past year.

Biden, along with the Democrats have been pushing an anti-gun agenda for years. On top of that, over the past 13 months they have also been pushing a defund the police mantra.

So what are God-fearing, Constitution-loving people to do? Ensure they can protect themselves. And that is exactly what has happened.

The federal government, led by the far-left Marxists that now comprise the majority of the Democratic party wants people to be under the government thumb for everything…you know, womb to the tomb.

Democrats obviously don’t care if the “little people” are unable to defend themselves, or if the police departments they have emasculated cannot help. After all, they can afford their own security, or more accurately, rely on the very people they want to leave unprotected to fund their security.

Leftists of course don’t want the police until they need them. Take LeBron James for example. He doesn’t want the police to protect you or me. He just wants a private detail to protect him.

Likewise, far left nutjob Portland city commissioner Jo Ann Hardesty wants to defund the police in her city, as long as they’re available to respond to her 911 call when she gets tossed out of her Lyft for being nothing less than a pain in the ass. There are many more examples of the abject hypocrisy of the left.

Now we are finding out that Americans’ decision to take their protection into their own hands has proven to be a financial windfall for American gun manufacturer Smith & Wesson.

In a company earnings call this past Thursday, CEO Mark Smith said that for the past fiscal year, the gun manufacturer “surpass[ed] $1 billion in sales for the first time in our 169-year history.” Congratulations, that is an outstanding accomplishment.

In announcing the annual earnings result, Smith also said that in the fourth quarter alone, revenue came to nearly “$323 million,” which he called “the highest quarter ever on record and marks the fourth consecutive record-breaking quarter for the company.”

As a result of the record sales, Smith said, Smith & Wesson was able to “completely pay off our $160 million debt, return over $8 million to shareholders through dividends and reduce our outstanding shares by over 14%.” Almost makes one wish they purchased stock in the company.

The results enjoyed by Smith & Wesson continue a trend in the U.S. gun and ammunition industries, whose sales have been blasting through previous records (no pun intended).

In addition to sales of firearms and ammunition, monthly U.S. gun background checks are also up significantly year-over-year, while there has been a shortage of ammunition in the consumer guns market due to the large number of new gun owners in the country. Talk about the law of unintended consequences!

The ammunition shortage has firearm owners concerned, and according to an article in The Epoch Times, Smith said that it will likely not end soon.

According to the article:

“The CEO of one of the largest U.S. gun manufacturers, Smith & Wesson, said that the current ammunition shortage is showing no signs of improving amid reports of Americans continuing to purchase record amounts of firearms.

Over the past year or so, according to FBI data, gun sales in the United States have skyrocketed amid uncertainty surrounding COVID-19, Black Lives Matter demonstrations and violence, and Democrat officials’ proposals for more state and federal gun-control measures.

“It is widely known the ammunition shortages continue,” said Smith & Wesson CEO Mark Smith in a Fox Business interview on Thursday. “There is still a lot of interest in firearms.”

He noted that Smith & Wesson shipped nearly 2.5 million units last year, up 70 percent from the previous year.”

Isn’t it ironic that the Democrats’ own narrative about taking guns away from law-abiding citizens has been the driving force behind the record increase in gun and ammunition sales, as well as the number of Americans getting pistol permits?

This folks, is why we have a Second Amendment.

Now, Democrats may lose their minds over the excess of guns on the streets, likely looking to blame that for the explosion of shootings that have occurred in the past year.

You see this is the hypocrisy of Democrats; when a police officer is forced to shoot an “unarmed” black man, it’s the person’s (cop’s) fault; when gang bangers or mentally deranged people kill someone, it’s the gun’s fault. See how that works? 

However according to National Review, a study conducted by Pittsburgh’s Graduate School of Public Health found that the vast majority of gun crimes are committed by those who didn’t legally purchase the firearms they used.

In that study, a full 79% of the cases showed the perpetrator was not the gun owner but rather illegally possessed the weapon used. Granted, the study was conducted in 2008, however it is doubtful if such a study were conducted in 2021 the results would be that much different. A similar study conducted in Chicago found most criminals used “social connections” to obtain their guns illegally.

This of course backs up the argument of most Second Amendment advocates…that being that the vast majority of weapons used in shootings are obtained illegally and the addition of additional laws would not have made a difference. All new laws do is burden lawful gun owners. Criminals are called criminals for a reason…they don’t follow the law.

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Last fall, Law Enforcement Today reported on Smith & Wesson’s soaring stock price last year, up over 130%. For more on that, we invite you to:

DIG DEEPER

WASHINGTON D.C. – This year the US has seen record high numbers for firearm and ammunition purchases. One company that’s doing especially well is Smith & Wesson whose stock is up over 130%.

A stock market analysis site, MarketWatch, reported that, as of early Sunday morning, Smith & Weston’s stock was up 134.09% for the year. However, this isn’t the only gun manufacturer to see a surge in profit for the year.

As of Sunday morning Sturm Ruger & Co saw a large raise in stock value as well with the company’s stock increasing by 41.46% for the year.

These figures show a large increase in gun ownership for the year 2020. The FBI has also corroborated this with statistics on background checks. The FBI’s National Instant Criminal Background Checks System (NCIS) has been reporting the number of background checks processed since 1998. This year, the NCIS Firearm Check’s data shows record breaking levels of NCIS checks.

In January of this year there were 2,702,702 reported background checks compared to the month of January in 2019 which saw 2,165,096 searches. The trend of increased background checks has continued throughout the year with each month topping prior years by tens of thousands of checks.

In 2019 the months January through September saw an overall 28,369,750 background checks, but 2020 has shattered that record by almost 500,000. Thus far there have been 28,826,449 NICS checks in 2020, and the rest of the year is set to have continued highs in background searches.

To go along with the rapid rise in gun sales, manufacturers have also seen a rise in ammunition sales. In August Breitbart News reported that there has been a 139% increase in ammunition sales in the first six months of 2020. This number is also set to continue increasing for the rest of 2020.

Now, you might be asking yourself “who’s buying all of these new firearms?” Well, according to The Firearm Industry Trade Association (NSSF), the demographic with the largest increase comes from black Americans.

The NSSF Director of Research and Market Development Jim Curcuruto explained the overall demographic breakdown of gun sales in 2020:

“During the first half of 2020, retailers noted that the overall makeup of their customers consisted of 55.8 percent white males, 16.6 percent white females, 9.3 percent Black males, 5.4 percent Black females, 6.9 percent Hispanic males, 2.2 percent Hispanic females, 3.1 percent Asian males and 0.7 percent Asian females.”

The director then reported that black Americans constitute the demographic with the largest increase in ownership:

“The highest overall firearm sales increase comes from Black men and women, who show a 58.2% increase in purchases during the first six months of 2020 versus the same period last year.”

Curcuruto also highlighted that the US has never seen such a large sustained increase in firearm sales:

“Bottom line is that there has never been a sustained surge in firearm sales quite like what we are in the midst of.”

National African American Gun Association founder Philip Smith spoke about the increase in black gun ownership. Smith indicated that the rise in ownership is due to a lack of safety. The founder claims that black communities are no longer hoping for anyone to step in and provide safety, instead, “we’re gonna save ourselves.”

Politico reported Smith‘s full statement which reads: 

“The days are over of African Americans sitting around singing Kumbaya and hoping and praying that somebody will come and save them. We’re gonna save ourselves. And any politician that wants our vote moving forward, they better be on the side of our thinking otherwise, you’re not gonna get our vote. We’re not gonna be sheep anymore.”

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