Smith & Wesson (SWHC $6.54 +0.31) issued upside guidance for the fourth quarter, seeing revenues of approximately $129 million versus the $119.80 million Capital IQ Consensus Estimate and $113-118 million prior guidance. Preliminary firearm order backlog increased to approximately $439 million as of April 30, 2012, an increase of $252 million, or 135%, compared with the end of the fourth quarter last year, and an increase of $240 million, or 121%, compared with the most recent sequential quarter. The company noted that the increase in net sales and backlog were driven by continued strength in orders across its product line, including M&P branded products such as pistols, modern sporting rifles, and the new Shield, which had a very successful launch in the quarter. Fourth quarter net sales were also aided by the significant efforts of the operations team to maximize internal manufacturing capacity and accelerate deliveries from component suppliers.
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