New York Daily News REEEEEEEEEs over Scaling back ITAR regs

The rule changes will “likely lead to more US guns getting into the hands of criminal organizations, human rights abusers, terrorist groups, and others who wreak harm,” the [gun-grabbers] argue.

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DC-W said:

https://www.nydailynews.com/news/po...html?outputType=amp&__twitter_impression=true

tl;dr
3D printed guns will be in terrorist hands! Drumpf wants more guns sold because sales are down (ignoring 3 straight record breaking months of NICS checks, conveniently)

Cody Wilson of Defense Distributed has been battling the State Department for years now. The regs may moot at least part of his case. The feds forced him to stop hosting gun files for free, claiming the files fell under ITAR. The files forced down are widely available elsewhere online, as are better versions of what was forced down. Ironically, he can sell USB sticks with the files — you just need to be a US resident.

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In 2017, net sales decreased 21% and earnings per share decreased 37% from 2016. The decrease in earnings is attributable to the sales decline and the unfavorable de-leveraging of fixed manufacturing costs due to the decline in production volumes.

New products represented $137.8 million or 27% of firearms sales in 2017, compared to $192.6 million or 29% of firearms sales in 2016. New product sales include only major new products that were introduced in the past two years. In 2017, new products included the Precision Rifle, the Mark IV pistols, the LCP II pistol, and the American pistol. In December 2017, the Company introduced the Pistol Caliber Carbine, the Security-9 pistol, and the EC9s pistol. Due to the timing of these launches, these new products had only a minimal impact on the 2017 financial results.

In the first quarter of 2018, net sales decreased 22% and earnings per share decreased 33% from the first quarter of 2017. The decrease in earnings is attributable to the sales decline and the unfavorable de-leveraging of fixed manufacturing costs due to the decline in production volumes.

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Our operating results for the three months ended January 31, 2018 included the following:

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Company net sales were $157.4 million, a decrease of $76.1 million, or 32.6%, from the comparable quarter last year.

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Firearms segment gross sales were $117.6 million, which included $762,000 of intersegment revenue, a decrease of $80.5 million, or 40.6%, from the comparable quarter last year.

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Outdoor Products & Accessories segment gross sales were $44.7 million, which included $4.2 million of intersegment revenue, an increase of $5.3 million, or 13.4%, from the comparable quarter last year. Inorganic gross sales totaled $2.3 million, or 5.1%, of gross sales for this segment for the three months ended January 31, 2018. Organic gross sales in this segment grew 7.6%.

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Company gross margin was 29.8%, a decrease of 12.7% from the comparable quarter last year.

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Company net income was $11.4 million, or $0.21 per diluted share, compared with $32.5 million, or $0.57 per diluted share, for the comparable quarter last year. Included in net income for the three months ended January 31, 2018 and 2017 was $5.3 million and $5.6 million, respectively, of amortization of acquired intangible assets related to our acquisitions. Additionally, we have estimated the impact of Tax Reform to be a benefit to us of $9.4 million, which has been included in our current period tax benefit.
Our operating results for the nine months ended January 31, 2018 included the following:

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Company net sales were $434.8 million, a decrease of $239.2 million, or 35.5%, from the prior year comparable period.

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Firearms segment gross sales were $318.5 million, which included $3.0 million of intersegment revenue, a decrease of $268.2 million, or 45.7%, from the prior year comparable period.

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brownspotz said:

Reeeeeeeeee. Back to 1/2 Chan with you!

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