Smith & wesson shares surge after strong fourth-quarter results

A man checks out a model S&W500 handgun at the Smith & Wesson booth during the 2016 National Shooting Sports Foundation's Shooting, Hunting, Outdoor Trade (SHOT) Show at the

Sands Expo and Convention Center in Las Vegas, Nevada. Getty Images Shares of Smith & Wesson rose more than 8 percent Friday on the heels of better-than-expected quarterly results. On

Thursday, the gunmaker reported adjusted fiscal fourth-quarter earnings of 66 cents a share on revenue of $221.1 million. Analysts polled by Reuters expected profits of 54 cents a share on

revenue of $214.5 million. "We continued to successfully execute on our long-term strategy, while delivering financial and operational results that set a number of new company

records," CEO James Debney said in a statement. The company's quarterly report drew greater scrutiny for investors following the Orlando shooting massacre on Sunday, which Smith

& Wesson did not mention it in its statement. Analysts at Wedbush Securities said following the earnings release that "SWHC shares should benefit from not only a sizeable 4Q beat

but also a view among investors that the solid guidance given on Thursday is beatable given what is assumed to be a surge in demand in coming months following the Orlando tragedy."

"Beyond a short term bump in these shares, however, SWHC faces exceedingly difficult comparisons, and so investors will be watching closely beyond a strong 1Q for signs of sustainable

momentum during the remainder of the year," the analysts said in a Thursday note to clients. Smith & Wesson's stock has skyrocketed more than 49 percent in the past year. SHWC

12-MONTH CHART _Source:FactSet_ _ Disclosure: Wedbush makes a market in Smith & Wesson._