Smith & Wesson profit rises, credits polymer pistol sales

Smith & Wesson is once again becoming an American success story.

America’s most recognizable handgun maker said Tuesday that profits for the three months ended Jan. 31 soared 43 percent as American’s love affair with guns was rekindled.

Revenue in the period rose 7 percent, due in large part to hefty sales of polymer pistols. Sales in the prior quarter had cooled to just a 2 percent rise.

The reinvigorated top line sparked a sharp rise in S&W shares after hours, with the stock jumping nearly 8 percent to $12.73 a share.

The stock was also goosed by the company raising its forecast for the fiscal year.

Sales in the quarter ending Jan. 31 rose to $146 million, up 64 percent from the 2011 quarter. Shares have more than tripled during that time.

Margins also rose during the period, to 40.2 percent from 36.6 percent a year earlier.

“We continued to demonstrate our strong track record of new-product development, launching several new products at the SHOT Show in January, particularly in the revolver category, all of which were well received and drew incremental orders from our customers,” CEO James Debney said.

The company is focusing on growing its piece of the lightweight polymer-pistol market, Debney said.

“The threat of government regulation — everything from the size of clips to anything the government can do to make it more difficult to buy semis and automatic weapons — drives up sales,” Three Ocean Partners investment banker Bill Detwiler, who closely follows the space, told The Post.