American Outdoor Brands announces financial results from its recently completed fiscal year after the closing of the stock market on June 29. The stock, which trades on the Nasdaq exchange under the symbol AOBC, traded at midday Friday at $23.91 a share, down from a 52-week high of $31.90.
American Outdoor Brands will break ground for its Missouri distribution center in 2017. The distribution center will mean 328 new jobs, including 154 new jobs in the first three years, American Outdoor Brands said in a press release.
American Outdoor Brands said it has hired Lewis Hornsby as president of the new division. Hornsby joins American Outdoor Brands from Vista Outdoor Inc., the corporate parent of Westfield's Savage Arms.
As Smith & Wesson, the company in 2014 bought Columbia, Missouri-based Battenfield Technologies, an online seller of gunsmithing supplies, equipment and shooting accessories. American Outdoor Brands said the new distribution and office center will consolidate the Battenfield operation and its 100 employees who work nearby.
Smith & Wesson has 1,758 full-time employees, according to its annual report. Some 1,462 are engaged in manufacturing, and most of those workers are at the company's factory on Roosevelt Avenue in Springfield. Smith & Wesson also has a plastics factory in Deep River, Connecticut.
The company has been hiring recently in Springfield and Connecticut, and is renovating its Springfield facility to add solar panels to cover the parking lot.
The name change in 2016 from Smith & Wesson to American Outdoor Brands was a move by the company to emphasize its diversification into a number of outdoors- and sporting goods-related businesses from Schrade brand pocketknives to Crimson Trace sights and a company that makes survival equipment.
The gun business is cyclical and sales slumped after Donald Trump won the presidency. Buyers were no longer panicked about the the possibility of tightened gun regulations.
American Outdoor Brands cited the recent declines in gun sales when it cut its full-year earnings guidance. The company now predicts earnings of $2.33 to $2.43 a share for the year that ended in April.