👤 mianrofe1974lazy guy 
💬 1
   Feb 17, 2023

As we reflect on Fiscal 2022, our team has again proved they can meet any challenge head on and deliver impressive results. As the firearms demand returned to a more normal level from the historic pandemicrelated surge, our flexible manufacturing model was once again put to the test, and once again we proved that no matter what – Smith & Wesson delivers profitability in any environment. Even with the reduced demand, our sales and marketing teams pushed to maintain market share gains, and we were able to end our year with the second highest revenue in company history at $864.1 million. But even more impressive was the 43.3% margins we were able to achieve, which was nearly a full point above the historic levels we achieved in the prior year. Strong cost control and a commitment to quality and innovation contributed to net income of nearly $200 million and Adjusted EBITDAS of nearly $300M. As impressive as our financial results are, we are equally proud of the innovation our research and development team displayed. During fiscal 2022, we launched the CSX, an all-metal, hammer-fired, single-action platform featuring a 12-round capacity and ambidextrous controls in a micro compact size with a 3.1” barrel. We added the 10mm caliber to our M&P M2.0 line of polymer pistols and introduced our Shield EZ and Shield Plus pistols in a new caliber, the 30 Super Carry, which was a co-launch partnership with Federal Premium Ammunition. Finally, we refreshed our modern sporting rifle line with the introduction of the Volunteer rifle series, which includes a number of custom enhancements, including handguards, adjustable stocks, hand grips, and muzzle brakes, and the first Smith & Wesson shotgun in 20 years, the M&P 12. And the team is far from done. Stay tuned in fiscal 2023 for additional exciting new products to be added to our product offerings. And of course, we also made the very difficult decision that, for the continued success and health of our iconic company, we will be relocating our headquarters and significant portions of our operations to Maryville, Tennessee. Massachusetts has been our home for over 170 years; however, with the changing climate for firearm manufacturing in the state, preserving the future of our business required a move to a state that does not propose burdensome restrictions on our company. Construction of our new state-of-the-art facility is well underway and will continue throughout this year – and we expect to begin operations in the new building in the summer of 2023. In closing, and as always, we appreciate the ongoing support of our employees, our customers, and our investors. Smith & Wesson is the strongest it has ever been and we have you to thank.

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 - Smith & Wesson Brands, Inc
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This person is pretty lazy