News
SMITH & WESSON SHATTERS $1 BILLION SALES BARRIER FOR THE FIRST TIME
Smith & Wesson sales for a 12-month period exceeded $1 billion for the first time in company history, according to figures released last week in the firm’s “Fourth Quarter and Full Year 2021 Financial Results” report. Part of the profit is going to employees, who rose above the pandemic’s variety of challenges and raw material slowdowns to make the record possible.
“And earlier today, we announced to our employees that this year, we will be distributing over $14 million to eligible employees, which will be 15 percent of each employee's annual wages,” Mark Smith, Smith & Wesson president and CEO said during a June 17 earnings call with investors and stock analysts.
“In addition, the company achieved a very significant milestone in fiscal 2021, surpassing $1 billion in sales for the first time in our 169-year history. As I said, this would not have been possible without all of our employees. And so, in recognition of this milestone, we will also be awarding every employee who is not eligible for our management bonus program a special bonus of $1,200 for a full-time employee and $600 for temporary workers, prorated for the month of service during the fiscal year and to be paid next Thursday, June 24.”
WRITTEN BY GUY J. SAGI
IOWA BECOMES 19TH STATE TO ESTABLISH CONSTITUTIONAL CARRY FOR FIREARMS
The state of Iowa has just passed legislation that will make it the 19th state to enact Constitutional Carry, also known as Permitless Carry. Governor Kim Reynolds signed House File 756 on April 2, but the law won’t go into effect until July 1, 2021. Iowa becomes the third state just this year to legalize Constitutional Carry, following Utah and Montana. Governor Reynolds’ public comment on the bill follows:
“Today I signed legislation that protects the 2nd Amendment rights of Iowa’s law-abiding citizens while still preventing the sale of firearms to criminals and other dangerous individuals. This law also takes greater steps to inform law enforcement about an individual’s mental illness helping ensure firearms don’t end up in the wrong hands. We will never be able to outlaw or prevent every single bad actor from getting a gun, but what we can do is ensure law-abiding citizens have full access to their constitutional rights while keeping Iowans safe.”
IOWA CONSTITUTIONAL CARRY
There seems to be some confusion when it comes to the issue of Constitutional and Permitless Carry, in the sense that people tend to think that the permit to carry system or process goes away altogether. I can’t speak for the other 18 states, but in Iowa’s case the carry permitting process is still alive and may be required for Iowans that carry in reciprocating states. The following excerpt is from the current Iowa Code 724.5, which is being replaced by the text from HF756 below it.
INDUSTRY COMPANIES INVEST IN THE FUTURE
Demonstrating a bullish outlook on the prospects of future growth, several industry companies have laid the groundwork for expanding or relocating manufacturing facilities to create jobs and meet elevated demand.
In December, Ruger announced a three-year plan to grow its Mayodan, N.C., production facility — investing approximately $10 million, which will create roughly 60 jobs. Ruger established its $26 million production facility in Mayodan in 2013, and its workforce there currently totals 490.
“This expansion will help us to grow our business and further expand our diverse lineup of rugged, reliable firearms, while at the same time expanding our presence in Rockingham County,” said Mickey Wilson, Ruger VP of Mayodan operations.
Dec. 21, Wilson Combat announced a major facility expansion for 2021, adding 16,000 sq. ft. of manufacturing space at its Berryville, Ark., campus. The company estimates this expansion will increase the size of its team by 20%.
WRITTEN BY JADE MOLDAE
CONCEALED CARRY CORNER: FLYING WITH A FIREARM FOR CONCEALMENT
In the world of carrying a concealed handgun, having to travel on a plane can be a big deterrent for taking your firearm with you. Often times if I am going on a quick weekend trip, I will have the debate to fly with a handgun or just leave it at home for the sake of easy traveling. There are a few different obstacles and extra steps but in the grand scheme of things, it’s fairly easy to travel with firearms to carry. If you don’t want to take a firearm when you fly, there are still a few options out there for carrying when you decide to travel without your vehicle. Let’s dive into flying with a firearm and tips to make it easy.
What To Transport Your Firearms Inside
Probably one of the most important things to keep in mind is what you will transport a firearm in when going to the airport. First and most importantly, the case needs to be a hard case that is lockable. This can either be something like a small VaultTek lockbox or a larger Pelican with space for ammunition or extra magazines. I know plenty of people who will pack an AR pistol along with a handgun when they go on trips, but that seems a fair bit excessive to me. If you do that, typically it will take a little longer to get through security than something smaller like a handgun.
WRITTEN BY MATT E.
AMMO, INC. TO BUY GUNBROKER.COM
AMMO, Inc. (AMMO), an Arizona-based munition company best known for its STREAK Visual Ammunition line, has announced its intent to acquire online firearm marketplace GunBroker.com from IA Tech LLC. The transaction is reportedly worth $240 million.
Founded in 1999 by entrepreneur Steve Urvan, GunBroker.com changed how firearms, ammunition and accessories were sold online. In 2010, the company was ranked #1362 on Inc.’s Annual 5000 Rankings of the fastest-growing private companies in the country — finishing #4806 most recently in 2016. Today, GunBroker.com has become one of the world’s leading online marketplaces for guns and gear with 6 million registered users.
Striving to be a technology leader itself, AMMO and GunBroker.com share a similar desire to innovate and change the firearms industry.
“We founded AMMO to be a disruptive technology-based company that could serve the shooting community with cutting-edge ammunition offerings,” said AMMO Chairman and CEO Fred Wagenhals. “Steve Urvan had the foresight and entrepreneurial drive to start GunBroker.com more than 20 years ago with the same spirit and vision.”
WRITTEN BY JOE KRIZ.
ROUNDHILL GROUP LLC PURCHASES REMINGTON FIREARMS
The story about America’s oldest gunmaker continues. In our article published a few days ago about the Remington assets being divided Roundhill Group, LLC was mentioned as one of the successful bidders. Today it was made official that they have purchased Remington Firearms, and that the purchase includes “all long guns, shotguns, pistols, the firearms manufacturing facilities, museum and giftshop.” So the question everyone is asking themselves is who are the people behind Roundhill Group? The Press Release gives some information and, probably most importantly, their intentions with Remington seems real and genuine. Hopefully they have the knowledge and skills to take Remington into the future.
Below is the Press Release in full:
Thursday, October 1, 2020
Roundhill Group LLC Purchases Remington Firearms
Lancaster, PA — Roundhill Group, LLC, an investment company with headquarters in Pennsylvania and Florida announced that it is purchasing Remington Firearms. The purchase includes all long guns, shotguns, pistols, the firearms manufacturing facilities, museum and giftshop.
With this acquisition have come many industry questions and rumors. Roundhill Group LLC partner and spokesman, Jeff Edwards addresses these issues:
“As is known, Roundhill Group LLC and a group of experienced firearms manufacturing and hunting industry professionals is in the process of purchasing Remington Firearms. Our intent with this acquisition is to return the company to its traditional place as an iconic American hunting brand. We intend to maintain, care for and nurture the brand and all of the dedicated employees who have crafted these products over the years for outdoors men and women both here in the USA and abroad. More than anything we want to make Remington a household name that is spoken with pride.”
The Roundhill Group is comprised of a group of individuals all of whom have years of experience in engineering, manufacturing and marketing both in and outside of the firearms space. They are all life-long hunting advocates and staunch Remington brand loyalists. They will work tirelessly to ensure that this company takes its rightful place as the iconic American brand that it was and still is.
LONG LIVE THE LEVER GUN! RUGER ANNOUNCES PLANS FOR MARLIN FIREARMS
Long Live the Lever Gun! Earlier this week we covered how the Remington firearms company was being divided up amongst various bidders in massive asset liquidation. Chief of interest among those potential acquisitions was the sale of the Marlin brand to Sturm Ruger. Ruger has now had its offer accepted and the acceptance of that order comes with some good news for lovers of the Marlin brand of products.
Ruger Successfully Acquires Marlin Firearms From Remington
In a press release on September 30th Ruger president and CEO Chris Killoy said in regards to the acquisition of Marlin: “The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings.”
Many of you were wondering what would come of the long-lived brand of popular firearms like the model 60 rifle as well as some of Marlin’s bigger centerfire lever-action rifles. Well, you’ll be happy to know that despite any concerns that Ruger plans on maintaining the Marlin Brand and its existing products. Chris Killoy put it best in the press release when he said:
TRIJICON VCOG 1-8X28 SELECTED AS MARINE CORPS SCO
Trijicon, Inc. has announced the selection of the Trijicon VCOG (Variable Combat Optical Gunsight) 1-8x28 riflescope as the U.S. Marine Corps' Squad Common Optic (SCO).
The $64,000,000 contract award will begin with delivery of units in 2020. Trijicon will manufacture the SCO at its Wixom, Michigan factory.
“Our warfighters deserve the very best equipment in defense of our nation. The Marine Corps’ SCO evaluation process was extremely rigorous, and we are honored that the VCOG was selected to continue the tradition of battle-proven riflescopes that the Trijicon ACOG began in 2004 as the Marine Corps’ first Rifle Combat Optic,” said Stephen Bindon, Trijicon President & CEO.
Specifically designed for Close Quarter Battle and long distance marksmanship, the Trijicon VCOG 1-8x28 is forged from a nearly indestructible 7075-T6 aluminum housing and is waterproof to 66 feet. The first focal plane reticle allows subtensions and drops to remain true at any magnification. Featuring ruggedized electronics, the VCOG includes eleven user-selectable brightness settings, including two night vision settings. An integrated dial fin allows easy rotation through the magnification range, and a near-constant eye relief means no head or stock position adjustments are needed. An integrated mounting adapter eliminates the need for conventional ring mounts, allowing users to quickly and easily mount the VCOG to any rail system.
SPIN OFF: AMERICAN OUTDOORS TO SEPARATE FROM SMITH & WESSON
American Outdoor Brands Corporation have announced a plan to spin off Smith & Wesson from their non-firearm brands. In a press release timed with the release of the company’s financial report for the first quarter of 2020, American Outdoors announced that “its Board of Directors has unanimously approved proceeding with a plan to spin-off its outdoor products and accessories business as a tax-free stock dividend to its stockholders.”
The splitting of the company into Smith & Wesson Brands, Inc. (which will encompass the firearm business) and American Outdoor Brands, Inc. (which will include all the outdoor products and accessories businesses) will take place during the second half of 2020.
In their press release Barry M. Monheit, Chairman of the Board, said:
There have been significant changes in the political climate as well as the economic, investing, and insurance markets since we embarked upon what we believe have been our very successful diversification efforts. We believe that separating into two independent public companies will allow each company to better align its strategic objectives with its capital allocation priorities. We also believe that this action will give the investment community clearer insight into the value creation potential in each of these independent companies, ultimately driving enhanced stockholder value. From the standpoint of our stockholders, at the time of the spin-off, the AOBC stockholders will own 100% of each company, thereby maintaining their pre-spin interest in both companies, and will thereafter have the ability to make distinct investment decisions tailored to their particular investment profile.
WRITTEN BY MATTHEW MOSS
DICK’S ED STACK FLIRTS WITH THIRD PARTY PRESIDENTIAL SPOILER
USA – -(AmmoLand.com)- Dick’s Sporting Goods CEO Ed Stack is being coy, if not predictable, about a third-party presidential run.
The businessman who recently announced he (possibly illegally) destroyed $5 million worth of modern sporting rifles and cost his publicly-traded company a quarter billion dollars, is reportedly working with focus groups to wade into presidential political pool. It’s exactly what you do when you’re peddling a book to make up for those financial losses.
Stack, author of “It’s How We Play the Game,” is reportedly testing the temperature to see if he’s hot enough – or cool enough – to play spoiler between the Democratic nominee and President Donald Trump for 2020. Presumably, Stack would attempt to co-opt the gun control message after it’s already failed for U.S. Rep. Eric Swalwell (D-Calif.) and former Congressman Robert Francis “Beto” O’Rourke (D-Texas) who both used the debate stage to voice a plan to forcibly confiscate lawfully owned semiautomatic rifles.
OPINION BY LARRY KEANE.
SPRINGFIELD SAINT 5.56 PISTOL ANNOUNCED
Due to the popularity of the SAINT Victor and SAINT Edge pistols, Springfield Armory has announced the new SAINT Pistol chambered in 5.56mm NATO.
The new Springfield SAINT 5.56mm Pistol is designed to offer shooters the quality and performance they expect, but at an even more affordable introductory price point ($849 MSRP). The pistol has many upgraded features, ensuring it delivers value and making it an ideal firearm for personal defense and home protection.
The Springfield SAINT 5.56 Pistol features a balanced 9.6-inch chrome moly-vanadium barrel that maximizes ballistic performance while still offering compact dimensions. The adjustable premium Trinity Force Breach Brace provides enhanced stability and meets ATF requirements for pistol classification.
Hard-use durability and rock-solid reliability are hallmarks of the SAINT Pistol. The barrel is fully Melonite coated for both durability and corrosion resistance, and the forged 7075 T6 upper and lower receiver ensure never-fail strength for the lifetime of the gun. Additionally, its M16 bolt carrier group, machined from Carpenter 158 steel, is shot peened and magnetic particle inspected for long-term durability.
FIREARMS NEWS DIGITAL STAFF - OCTOBER 14, 2019
THE REAL TRUTH ABOUT BEING A GUNSMITH OR MANUFACTURER
If you have an FFL license Type 01 or 02 and are wondering about where you draw the line between performing gunsmithing versus manufacturing, we have answers for you.
Before we delve into the explanation, keep in mind that there are many requirements for firearms manufacturers (FFL Type 07), such as marking standards, reporting requirements and payment of federal firearms excise taxes, that go beyond those for gunsmiths. If you fit the manufacturing criteria as explained below, you should certainly apply for and obtain the type of license for the business you are performing.
Know What You Are
The regulations at 27 CFR 478.11define a “Manufacturer” as “any person engaged in the business of manufacturing firearms or ammunition. The term shall include any person who engages in such business on a part-time basis.”
The regulations define “engaged in the business” as a “Manufacturer of firearms, a person who devotes time, attention and labor to manufacturing firearms as a regular course of trade or business with the principal objective of livelihood and profit through the sale or distribution of the firearms manufactured.” A “gunsmith,” on the other hand, is any person licensed as a dealer, which includes a gunsmith, who is engaged in the business of repairing firearms or making or fitting special barrels, stocks, or trigger mechanisms to firearms. A “gunsmith” may also repair, modify, embellish, refurbish or install parts in or on firearms (frames, receivers or otherwise) for or on behalf of a licensed importer or licensed manufacturer with only his or her dealer’s license, provided he or she meets the three specific conditions stated in both ATF Ruling 2010-10 and ATF Ruling 2015-1.
By John Bocker, John Clark, Wally Nelson and Harry McCabe, NSSF Compliance Consultant Team Members
COLT REPORTEDLY TO STOP MAKING RIFLES FOR CONSUMER MARKET
Connecticut-based Colt Firearms last week reportedly signaled they are exiting the consumer rifle market in coming days.
The company, originally founded in 1855 by inventor Samuel Colt to make handguns, will stop making rifles for retail sales channels. The news came from The Truth About Guns who confirmed it with Paul Spitale, senior VP of Colt’s commercial business line and was verified by Shooting Illustrated.
“We’re going to focus on the products that our consumers are asking for. We’ve expanded our 1911s and our revolver line, and that market has been very positive for us,” Spitale said. Shooting Illustrated reported that Colt’s rifle line production is occupied, at least for the time being, with outstanding contracts which include orders through police and defense channels.
According to records from the ATF for 2017, the most current available, Colt produced some 31,987 pistols and 7,342 revolvers at their West Hartford, Connecticut factory that year. This compares with 13,942 rifles, of which 2,097 were exported. Since 2017, the company has been aggressively expanding its long-dormant revolver line, introducing several Cobra and King Cobra wheel guns, to an eager audience.
WRITTEN BY CHRIS EGER.
CKEL-TEC ANNOUNCES P17, NEW AFFORDABLE SUB-$200 PISTOL
Kel-Tec launched a new pistol Friday at the National Rifle Association’s Personal Protection Expo, introducing attendees to the .22 Long Rifle chambered P17.
The polymer-framed pistol features a lightweight design, tipping scales at 0.8-ounces loaded and a mere 14-ounces loaded. Offering 16+1 capacity, the P17 delivers a barrel length of 3.93-inches with an overall length of 6.65-inches. The barrel comes with the added benefit of 1/2×28 threads to accommodate suppressors and other muzzle devices.
Kel-Tec tricked out the P17 with a few other features like an aluminum Picatinny rail, ambidextrous lever-style magazine release and manual safety as well as fiber optic sights. Kris Hammerstrom of Kel-Tec told Guns.com at the NRA’s Personal Protection Expo that the P17 is a welcomed addition to the Kel-Tec brand.
“The P17 is a nice, lightweight package. We kept the manufacturing costs cheap on it, so it’s a nice, affordable, viable option for a .22 LR pistol,” Hammerstrom explained. “It’s great for training purposes. It’s a lot easier to train with .22 LR than 9mm because of costs. Of course, it’s great for concealed carry too since it’s so lightweight.”
OKLAHOMA: DRIVE BY GUN CONTROL GROUP TO HALT CONSTITUTIONAL CARRY STALLS
A move by Democrats allied with Bloomberg-backed anti-gun groups to delay constitutional carry from going into effect across Oklahoma came up short.
The move, a statewide initiative petition that needed 59,320 signatures from registered voters, did not garner enough respondents by the required deadline. If it had been successful, it would have set the stage to put HB 2597 in front of voters for review before it came into law. The new law, signed by Republican Gov. Kevin Stitt in February, leaves the state’s current concealed carry licensing program intact while recognizing that an adult aged 21 and up and is lawfully able to possess a gun can carry one concealed without such a permit. Without the petition drive’s success or further action from courts, Oklahoma will see legal permitless carry beginning in November.
State pro-gun groups see it as a win.
“It’s a victory for Oklahoma and for liberty-loving people and that November the first people will be able to carry a pistol, rifle, or shotgun, loaded or unloaded, without permission from the government to do so,” said Don Spencer, president of the Oklahoma Second Amendment Association, as reported by local media.
WRITTEN BY CHRIS EGER.
DEMS PUSH MANDATORY PERMITS FOR HANDGUN PURCHASES
Democrats on Capitol Hill have debuted a proposal to help mandate that those who want a handgun first be approved for a permit.
The legislation, backed by Dems in both the House and Senate, would encourage more states to adopt licensing schemes like Connecticut’s handgun purchasing law, which requires a special renewable permit to purchase any revolver or pistol. Dubbed the Handgun Purchaser Licensing Act, the bill was introduced by U.S. Sen. Chris Van Hollen of Maryland and Senators Richard Blumenthal and Chris Murphy of Connecticut along with U.S. Reps. Jahana Hayes, D-Conn and Jamie Raskin, D-Md.
“States require licenses to drive a car in order to protect public safety – requiring a license to buy a handgun should be a no-brainer,” said Raskin.
The proposed legislation would authorize the Department of Justice to establish a grant program to help states develop and implement permit-to-purchase requirements for all handguns including those rented, bought or transferred in private sales or at gun shows. The grant program proposed would require that a state’s PTP law require applicants to be fingerprinted and photographed then subjected to a background check by law enforcement before receiving their permit to buy a handgun. The permit would have to be renewed every five years, or sooner.
WRITTEN BY CHRIS EGER.
ILLINOIS GUN SHOP QUITS STATE DUE TO NEW REGULATIONS
Given a short window by state regulators to comply with controversial new mandates, one local gun shop is calling Illinois quits after nearly 15 years.
Lost Creek Trading Post in Marshall, Illinois late last month said they had been told by local officials they had until June 17 to apply for a newly-mandated state-issued license and be certified by July 17. The requirements include a $1,500 fee and a host of new training and regulatory guidelines. Rather than try to jump through the hoops, Lost Creek is pulling stumps for a location across the state lines in Indiana.
“The Illinois Legislature’s Gun Dealer Licensing Act is unreasonable and cost prohibitive for us at this time,” said the store in an announcement on social media. “As of July 14th, we will be unable to sell firearms to you in Illinois. After this date, we may remain open a short time for sales of gun-related items, but no firearms.”
WRITTEN BY CHRIS EGER.
ILLINOIS FOID COST INCREASE BILL TANKS, FOR NOW
An Illinois bill that would have required fingerprinting gun owners and raising the costs associated with mandatory Firearm Owners Identification (FOID) cards failed to pass the legislature at the last minute. The measure, SB 1966 passed the Democrat-controlled state House on a narrow 62-52 vote last week but did not make the cut in the state Senate before the spring legislative session ended on Friday.
The bill aimed to revamp the state’s FOID card, which is issued by the Illinois State Police, by upping the cost from $10 to $20, while decreasing the card’s lifespan from 10 to five years. It would have also added a $30 mandatory fingerprinting process to the mix and installed universal background checks.
The proposal’s Senate sponsor, Democrat Julie Morrison, intends to redouble her efforts to pass the bill, saying, “In the months ahead, I will be working with Senators both formally through subject-matter hearings and informally through conversations to ensure that there is no question that we must act to close this loophole.”
WRITTEN BY CHRIS EGER.
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