Latest news with #NICS
Yahoo
2 days ago
- Business
- Yahoo
Sportsman's Warehouse Holdings Inc (SPWH) Q1 2025 Earnings Call Highlights: Navigating Growth ...
Net Sales: $249.1 million, a 2% increase from $244.2 million in the same period last year. Gross Margin: 30.4%, up 20 basis points from 30.2% a year ago. SG&A Expenses: $95.3 million or 38.2% of net sales, improved from 38.6% in the prior year. Net Loss: $21.3 million or negative $0.56 per diluted share, compared with a net loss of $18.1 million or negative $0.48 per diluted share in the prior year. Adjusted Net Loss: $15.6 million or negative $0.41 per diluted share, compared with adjusted net loss of $17.8 million or negative $0.47 per diluted share in the prior year. Adjusted EBITDA: Negative $9 million, compared with negative $8.7 million in the first quarter of 2024. Total Inventory: $412.3 million, up from $391.6 million in the same period last year. Debt Balance: $166 million with total liquidity of $122.1 million. Same-Store Sales: First positive year-over-year sales comp in nearly four years. Firearm Unit Sales: Increased nearly 7% over last year, despite a 5.4% decline in adjusted NICS data. E-commerce Sales: Positive comp, up 8% over last year. Fishing Sales: Up 11%, with a two-year comp growth of 12.3%. Ammunition Sales: Up 3%, with a 12% increase in ammo unit sales during the quarter. Warning! GuruFocus has detected 7 Warning Signs with SPWH. Release Date: June 03, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sportsman's Warehouse Holdings Inc (NASDAQ:SPWH) reported a 2% increase in net sales for Q1 2025, marking the first positive year-over-year sales comp in nearly four years. The company's e-commerce business posted an 8% increase over last year, driven by a new digital-first marketing strategy and improved omnichannel customer experience. Firearms unit sales increased nearly 7% over last year, significantly outpacing the adjusted NICS data, indicating market share gains. Positive sales comps were achieved in most core categories, including firearms, clothing and footwear, ammunition, and especially fishing, which was up 11%. The company is executing a strategic plan focused on inventory precision, local relevance, personal protection, and brand awareness, which is showing early signs of success. Despite the positive sales growth, Sportsman's Warehouse Holdings Inc (NASDAQ:SPWH) reported a net loss of $21.3 million for Q1 2025, compared to a net loss of $18.1 million in the prior year. Gross margin was slightly pressured by increased freight expenses tied to strategic inventory pull forward in anticipation of higher tariffs. SG&A expenses remained high at $95.3 million, representing 38.2% of net sales, though slightly improved from the prior year. The company pulled forward approximately $20 million in inventory to mitigate tariff impacts, temporarily elevating inventory levels. Camping sales were down, attributed to a later spring and the timing of Easter, impacting overall category performance. Q: Can you break down the positive comp trends for the quarter by month and extend that into May? A: Jeff White, CFO, explained that February showed good trends, March was pressured due to an ad shift, but April was strong. The positive trend continued into May, with May also showing a positive comp. Q: Are the positive trends in stores due to increased foot traffic or improved inventory assortments? A: Jeff White, CFO, noted it's a mix of both. They are seeing better traffic trends and higher basket sizes due to improved in-stock levels and strategic inventory management. Paul Stone, CEO, added that e-commerce performance is also contributing to store traffic. Q: Is there an opportunity to expand the "shop within a shop" concept, particularly for key brands? A: Paul Stone, CEO, confirmed there is significant opportunity to expand this concept, especially in personal protection. They plan to build out this strategy with more partners and categories. Q: Can you clarify the $20 million inventory pull forward in Q1? A: Jeff White, CFO, stated they strategically pulled forward $20 million in inventory to address tariff uncertainties, focusing on high-turning products like firearms, ammo, and fishing gear to ensure they are well-stocked for peak seasons. Q: How are tariffs impacting your financials, and what measures are you taking to mitigate these effects? A: Paul Stone, CEO, mentioned they are constantly assessing pricing and have a strategy to balance everyday low prices with efficiency improvements. Jeff White, CFO, added that they feel confident in their guidance barring any drastic changes in consumer health. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
BBC News
29-05-2025
- Business
- BBC News
Civil Service: 'Not enough office space' if working from home ends
A return-to-office policy for the civil service would not be possible because there is no longer enough space to accommodate everyone, Stormont assembly members have been civil servants began working from home during the pandemic, a trend which has NI Civil Service (NICS) is in the process of reducing its office estate by 40% by selling buildings and ending Smyth, chief executive of construction and procurement delivery at the Department of Finance, said that four-year process was on track. She told Stormont's finance committee there was currently sufficient office space for civil servants but that would not be the case if there was a widespread return to office-based the policy was "everyone's coming back four days a week" then "we wouldn't have the space, we wouldn't have the physical accommodation to do that," she Smyth said a review of the NICS hybrid working and working-from-home policies is due to be published also revealed the sale of one of the biggest NICS offices had not been completed despite going sale agreed last Court in Belfast City Centre is the former HQ of the Department of Smyth said it would be put back on the market shortly and the current bidder remains also told assembly members a decision was expected by the end of July on whether Marlborough House in Craigavon would be 1970s office block is due to be vacated by civil servants and a listing could complicate efforts to find a new use for the site.
Yahoo
22-05-2025
- Politics
- Yahoo
Republicans Sneak Terrifying Gun Law Change Into Trump's Budget Bill
Republicans narrowly passed Donald Trump's sweeping budget reconciliation bill through the House Wednesday night, including a last-minute provision that would not require gun owners to register the purchase of silencers. Georgia Representative Andrew Clyde had already ensured the elimination of a $200 transfer tax on gun silencers. But during negotiations Wednesday, he was able to add another provision altogether removing silencers from the regulatory purview of the National Firearms Act, which imposes taxes on the manufacture, distribution, and import of weapons, according to Politico. The last-minute addition would strike another $200 tax on the manufacture of gun silencers. But by removing silencers from the purview of the National Firearms Act, lawmakers said that the change also had eliminated the NFA's registration requirement with the Bureau of Alcohol Tobacco Firearms and Explosives. 'The question I have is, this was not in the bill that we were marking up. So, whose vote was bought with this provision that silencers will no longer need to be registered with the ATF or subject to background check purchasers?' asked Colorado Representative Joe Neguse on the House floor Wednesday night. 'What member was on the fence about this bill, and then went to Republican leadership and said, 'I know you're eliminating the tax on silencers but if you can just eliminate all regulation on silencers, I will vote for this bill?'' Georgia Representative Austin Scott claimed that silencers' exception from ATF registry did not mean that purchasers would not be subject to background checks. Scott, who argued in support of the provision, seemed confused about what it was actually about. He said it was about suppressors, rather than silencers—but that was incorrect. When a person attempts to buy a firearm, they must complete an ATF form, and the seller then relays information to the National Instant Criminal Background Check System (NICS), according to the Federal Bureau of Investigation website. The NICS staff then performs a check to see whether the buyer has a criminal record or is in any way ineligible to purchase the firearm. If the purchaser is not required to fill out a form with the ATF to purchase a silencer, it's not clear how a background check would still be completed. 'Quite frankly, what is in the reconciliation bill does more to support assassins than it does American families,' said Massachusetts Representative Jim McGovern. There was some laughter in the hall. 'Yeah, well you know what? Talk to law enforcement, talk to people who have been victims of gun violence,' McGovern continued. 'I know you think it's funny, but I don't.'
Yahoo
22-05-2025
- Politics
- Yahoo
Crime Rates of Illegal Migrants Underreported
Democrats actively oppose the Trump administrations efforts to arrest and deport illegal immigrants, despite the administrations focus on those with criminal histories. To support their opposition, Democrats frequently claim, almost as an article of faith, that illegal immigrants are less prone to commit crime. "The crime rate among immigrants is far lower than the crime rate among native-born Americans," New York Rep. Jerrold Nadler asserted confidently. "So the whole issue is wrong." "Immigrants commit crimes in this country at a rate lower than natural-born citizens," added Connecticut Sen. Chris Murphy. "So, if you want a safe town or a safe neighborhood, you are better off if you have immigrants." Speaking on the Senate floor last year, Murphy added, "Whether you choose to want to believe the facts or not, that is not my decision, its your decision, but…but it is the truth." This tenet is incessantly parroted by the legacy news media. Sample headline, this one from ABC News: "No, migrants are not driving a surge in violent crime as Trump claims." ABC asserted that crime in this country is declining despite an influx of illegal immigrants. This barrage has achieved its intended goal: A McLaughlin & Associates survey commissioned by the Crime Prevention Research Center on April 29, 2025, reveals that 41.6% of voters believe illegal immigrants commit crimes at lower rates than U.S. citizens, compared to 33.3% who think otherwise. Like most issues, U.S. public opinion on this question has a demographic and partisan component. Only men, Republicans, conservatives, whites, and those aged 41 to 55 believe illegal immigrants commit more crimes. The majority of young voters (18-29), Democrats, liberals, and African Americans most strongly assert that illegal immigrants commit fewer crimes. But is this "the truth"? Are these "the facts"? The data suggests that the answer is pretty clearly "no." These claims usually conflate legal and illegal immigrants. Legal immigrants tend to follow the law, but illegal immigrants are a different story. As to the claim that crime is falling despite a flood of illegals, it depends on whether one looks at just crimes reported to police (the FBI data) or total crime as measured by the Department of Justices Bureau of Justice Statistics. Total crime rose markedly in 2021, 2022, and 2023 (the last year it was available). This surge coincided with a massive flood of illegals. The increases shown for total crime during the Biden-Harris administration are by far the largest percentage increases over any other three-year period, more than doubling the previous record. One big problem is that the government databases are a mess in identifying illegal aliens. You can see this in terms of errors in the NICS background checks that are supposed to stop non-citizens with criminal records from buying guns. There is more direct data linking illegals to crime. Just last year, the Biden administration admitted that 9% of the so-called "non-detained" illegals who were released into the U.S. had criminal backgrounds (662,566 out of 7.4 million released). The problem is that these were overwhelmingly those who had voluntarily turned themselves in at the border, presumably the ones we should be least concerned about. It doesnt count the 2 million "gotaways" we detected crossing the border but failed to apprehend during the Biden administration, nor the unknown millions we never saw coming across the borders. All this also depends on us believing that the Biden administration didnt undercount these criminal backgrounds. And many countries, such as Venezuela, wont provide information on the criminal backgrounds of their citizens. Last December, a similar estimate for New York City indicated that about 7% of the illegals living there were criminals. A prior Maricopa County Attorneys Office study revealed that illegal immigrants committed 21.8% of felonies sentenced in Maricopa County Superior Court, over twice their proportion of Arizonas population. Mexican nationals alone accounted for 13% of inmates in the state prison system. Earlier work that the Crime Prevention Research Center did for the Arizona County Prosecutors Association also found that illegals made up a disproportionate share of the Arizona prison population and that legal immigrants were more law-abiding than the general population. Illegal immigrants are at least 142% more likely to be convicted of a crime than other Arizonans. They also tend to commit more serious crimes and serve 10.5% longer sentences, are more likely to be classified as dangerous, and are 45% more likely to be gang members than U.S. citizens. Critics like the Washington Post cite academic studies asserting illegal immigrants are relatively law-abiding. There are numerous problems with these studies. None of them account for changes in police, arrest, or conviction rates, or imprisonment in explaining crime rates. They look at states like California but ignore the impact on cutting crime rates from laws such as Californias 1994 three-strikes law during the period studied. They ignore a key issue: Criminals often target those similar to themselves. Illegal immigrants, therefore, are more likely to commit crimes against other illegal immigrants. These crimes often go unreported - for fear of deportation - and as the local population of illegal immigrants grows, underreporting almost certainly increases. While these studies acknowledge that illegal immigrants who are victims hesitate to report crimes, they neglect to adjust their empirical analyses for this factor, particularly when relying on FBI Uniform Crime Reporting data. Notably, the FBI data captures only about 40% of all violent crimes and 30% of all property crimes reported in the National Crime Victimization Survey. The medias relentless narrative that illegal immigrants dont commit crimes has shaped Americans perceptions. And these numbers, as bad as they are, likely undercount the number of criminal illegals. Even if some believe undocumented immigrants commit crimes at lower rates, ignoring ICE detainers for convicted undocumented immigrants to prevent their deportation raises doubts about whether they really care about the criminal rate of these illegal immigrants. John R. Lott Jr. is president of the Crime Prevention Research Center. He served as the senior advisor for research and statistics in the Office of Justice Programs and the Office of Legal Policy in the U.S. Department of Justice during 2020-21.
Business Wire
30-04-2025
- Business
- Business Wire
Sturm, Ruger & Company, Inc. Reports First Quarter Diluted Earnings of 46¢ Per Share and Declares Quarterly Dividend of 18¢ Per Share
SOUTHPORT, Conn.--(BUSINESS WIRE)--Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that for the first quarter of 2025, net sales were $135.7 million and diluted earnings were 46¢ per share. For the corresponding period in 2024, net sales were $136.8 million and diluted earnings were 40¢ per share. The Company also announced today that its Board of Directors declared a dividend of 18¢ per share for the first quarter for stockholders of record as of May 16, 2025, payable on May 30, 2025. This dividend varies each quarter because the Company pays a percentage of earnings rather than a fixed amount per share. This dividend is approximately 40% of net income. Chief Executive Officer Todd W. Seyfert commented on the first quarter of 2025, 'The challenges in the firearms market are clear and well-documented across the industry. According to RetailBI's Q1 2025 report, retail firearm unit sales declined 9.6% year-over-year, with revenue down 11.5%. Handguns, rifles, and shotguns were all under pressure, and even adjusted NICS checks declined by 4.2%. Despite these headwinds, I'm proud to report that Ruger remained flat in sales, while staying profitable. My mindset as CEO is that although the firearms industry may be cyclical, Ruger does not have to be, and our performance this quarter supports that. That resilience is a direct result of our disciplined operations and strong new product pipeline. Consumer demand for the Ruger American Rifle Generation II, our Marlin lever-action rifles, and the RXM pistol developed with Magpul Industries contributed to our momentum. These products not only reinforce our commitment to quality but also continue to excite our loyal base, drive demand and elevate the entire portfolio of Ruger products.' Other observations on the quarter include: Sales of new products, including the RXM pistol, Super Wrangler revolver, Marlin lever-action rifles, and American Centerfire Rifle Generation II, represented $40.7 million or 31.6% of firearm sales in the first quarter of 2025. New product sales include only major new products that were introduced in the past two years. Compared to the first quarter of 2024, the Company's and distributors' finished goods inventories increased 17,900 units and decreased 20,100 units, respectively. Cash provided by operations during the first quarter of 2025 was $11.1 million. At March 29, 2025, our cash and short-term investments totaled $108.3 million. Our current ratio is 4.6 to 1 and we have no debt. In the first quarter of 2025, capital expenditures totaled $1.1 million. We expect our 2025 capital expenditures will increase from recent years and may exceed $30 million as we invest in new product introductions, expand capacity, upgrade our manufacturing capabilities and strengthen our facility infrastructure. The Company returned $7.0 million to its shareholders in the first quarter of 2025 through: the payment of $4.0 million of quarterly dividends, and $3.0 million through the repurchase of 79,200 shares of its common stock at an average cost of $37.74 per share. At March 29, 2025, stockholders' equity was $321.4 million, which equates to a book value of $19.39 per share, of which $6.53 per share was cash and short-term investments. Mr. Seyfert discussed the Company's plans for moving forward, 'Looking ahead, innovation remains our core focus. As I stated earlier, our robust pipeline of upcoming products is designed to energize the market, drive growth, and extend our brand reach. We have plans in the works for expanding the availability of key models, increasing the speed to market on our new product roadmaps, and offering more configurations of recently launched new models. In addition, as a U.S.-based manufacturer, we are uniquely positioned to navigate global trade disruptions. Our American-made products insulate us to a degree from current tariff and supply chain uncertainties, though we are monitoring areas where these costs may still have an effect. With that said, we continue to plan for growth, position ourselves for long-term market leadership, and aggressively manage costs across the business. We look forward to sharing more detail on these initiatives, and our roadmap for long-term growth, at the upcoming annual meeting on Thursday, May 29 th at 9:00 AM." Today, the Company filed its Quarterly Report on Form 10-Q for the first quarter of 2025. The financial statements included in this Quarterly Report on Form 10-Q are attached to this press release. Tomorrow, May 1, 2025, Sturm, Ruger will host a webcast at 9:00 a.m. ET to discuss the first quarter operating results. Interested parties can listen to the webcast via this link or by visiting Those who wish to ask questions during the webcast will need to pre-register prior to the meeting. The Quarterly Report on Form 10-Q for the first quarter of 2025 is available on the SEC website at and the Ruger website at Investors are urged to read the complete Quarterly Report on Form 10-Q to ensure that they have adequate information to make informed investment judgments. About Sturm, Ruger & Co., Inc. Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market. With products made in America, Ruger offers consumers almost 800 variations of more than 40 product lines, across both the Ruger and Marlin brands. For over 75 years, Ruger has been a model of corporate and community responsibility. Our motto, 'Arms Makers for Responsible Citizens ®,' echoes our commitment to these principles as we work hard to deliver quality and innovative firearms. The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events. STURM, RUGER & COMPANY, INC. (Dollars in thousands, except per share data) March 29, 2025 December 31, 2024 Liabilities and Stockholders' Equity Current Liabilities Trade accounts payable and accrued expenses $ 34,006 $ 35,750 Contract liabilities with customers 789 - Product liability 373 431 Employee compensation and benefits 14,402 18,824 Workers' compensation 5,231 5,804 Total Current Liabilities 54,801 60,809 Employee compensation 1,088 1,835 Product liability accrual 61 61 Lease liabilities 1,572 1,747 Contingent liabilities - - Stockholders' Equity Common Stock, non-voting, par value $1: Authorized shares 50,000; none issued - - Common Stock, par value $1: Authorized shares – 40,000,000 2025 – 24,473,499 issued, 16,580,839 outstanding 2024 – 24,467,983 issued, 16,654,523 outstanding 24,473 24,468 Additional paid-in capital 51,499 50,536 Retained earnings 440,531 436,609 Less: Treasury stock – at cost 2025 – 7,892,660 shares 2024 – 7,813,460 shares (195,022 ) (192,031 ) Total Stockholders' Equity 321,481 319,582 Total Liabilities and Stockholders' Equity $ 379,003 $ 384,034 Expand STURM, RUGER & COMPANY, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Dollars in thousands) Three Months Ended March 29, 2025 March 30, 2024 Operating Activities Net income $ 7,768 $ 7,084 Adjustments to reconcile net income to cash provided by operating activities: Depreciation and amortization 5,571 5,833 Stock-based compensation 1,146 1,082 Excess and obsolescence inventory reserve 40 - Deferred income taxes (1,576 ) (3,116 ) Changes in operating assets and liabilities: Trade receivables (343 ) (5,951 ) Inventories 5,740 11,314 Trade accounts payable and accrued expenses (2,281 ) (2,057 ) Contract liabilities with customers 789 (119 ) Employee compensation and benefits (5,023 ) (11,480 ) Product liability (58 ) (311 ) Prepaid expenses, other assets and other liabilities (628 ) 5,066 Cash provided by operating activities 11,145 7,345 Investing Activities Property, plant and equipment additions (1,124 ) (1,788 ) Purchases of short-term investments (36,288 ) (39,488 ) Proceeds from maturities of short-term investments 39,580 42,487 Cash provided by investing activities 2,168 1,211 Financing Activities Remittance of taxes withheld from employees related to share-based compensation (178 ) (624 ) Repurchase of common stock (2,991 ) (3,219 ) Dividends paid (3,992 ) (4,080 ) Cash used for financing activities (7,161 ) (7,923 ) Increase in cash and cash equivalents 6,152 633 Cash and cash equivalents at beginning of period 10,028 15,174 Cash and cash equivalents at end of period $ 16,180 $ 15,807 Expand Non-GAAP Financial Measures In an effort to provide investors with additional information regarding its financial results, the Company refers to various United States generally accepted accounting principles ('GAAP') financial measures and two non-GAAP financial measures, EBITDA and EBITDA margin, which management believes provides useful information to investors. These non-GAAP financial measures may not be comparable to similarly titled financial measures being disclosed by other companies. In addition, the Company believes that the non-GAAP financial measures should be considered in addition to, and not in lieu of, GAAP financial measures. The Company believes that EBITDA and EBITDA margin are useful to understanding its operating results and the ongoing performance of its underlying business, as EBITDA provides information on the Company's ability to meet its capital expenditure and working capital requirements, and is also an indicator of profitability. The Company believes that this reporting provides better transparency and comparability to its operating results. The Company uses both GAAP and non-GAAP financial measures to evaluate the Company's financial performance. EBITDA is defined as earnings before interest, taxes, and depreciation and amortization. The Company calculates this by adding the amount of interest expense, income tax expense, and depreciation and amortization expenses that have been deducted from net income back into net income, and subtracting the amount of interest income that was included in net income from net income to arrive at EBITDA. The Company calculates EBITDA margin by dividing EBITDA by total net sales.
