Sturm, Ruger, and Co. have announced a drop in profits for 2019, reports NH Business Review.
Sales for the Connecticut based company were reported at $410.5 million for the year, a 17% decrease from 2018. This drop accompanied a $1-per-share decline as well. One factor possibly at fault is price under-cutting from competitors. While others drop prices, Ruger has stayed steadfast, instead choosing to reduce production by 18% over the year.
According to CEO Christopher Killoy sales began to uptick at the end of the fourth quarter, which for him is a promising sign. This trend continued into the new year.
WNTK Local News 