WASHINGTON — (CNN) Smith & Wesson is selling more guns than ever.
The company gave investors an earnings update Thursday and reported a 22.4% increase in its quarterly net sales of firearms, compared to the same period last year, besting Wall Street’s expectations.
Shares of Smith & Wesson rose 7% during extending trading hours Thursday evening after the report was released, following a 9% gain during trading hours.
That follows a volatile few days for the gun manufacturer’s stock in the wake of the deadliest mass shooting in U.S. history that left 49 victims dead at an Orlando gay club.
The report only included sales through April 30, 2016 — but it’s typical for gun manufacturers to see demand rise in the wake of such violent incidents as pro-gun consumers fear laws will restrict access.
After the shooting in San Bernardino, California, in December, the company saw quarterly sales jump 61.5%.
Smith & Wesson executives did project robust sales growth for the remainder of its fiscal year. CFO Jeff Buchanan explicitly told investors the company does not alter its guidance based on political rhetoric or anticipated legislation.
Buchanan instead attributed their favorable forecast to “product innovation in the firearm and accessories division.”
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