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Smith And Wesson Cites Warm Weather In Earnings Shortfall
December 15, 2007.
Unseasonably warm weather has been blamed for recent tough elk seasons, late deer ruts, and changes in waterfowl migrations. Now, it has been cited as a cause of an earnings shortfall by gun-maker Smith & Wesson.
On December 6, shares of the gun maker dropped 29.3%, or $2.91, to $7.01, in late-afternoon trading after it cut its 2008 earnings forecast for the second time in six weeks.
One of the reasons cited in Forbes was that earnings were "stymied by unseasonably warm weather, leading to a weak hunting market in the United States."
S&W (nasdaq: SWHC) closed at $6.30 on December 14th.