Sturm, Ruger & Co. is adding Marlin firearms production during 2021 at its 220,000 square-foot plant at 271 Cardwell Road in Mayodan. News & Record of Greensboro
Another sharp increase in demand for firearms, spurred by the COVID-19 pandemic and national political tension boosted Sturm, Ruger & Co. to a nearly fourfold jump in fourth-quarter net income at $31.7 million.
Diluted earnings were $1.73 a share, compared with 45 cents a year ago. There were no earnings forecasts from Zacks Investment Research.
Ruger released its earnings report after the market closed Wednesday.
Fourth-quarter sales soared 60.9% to $169.3 million.
Ruger s profit increase came despite a nearly threefold increase in its income taxes to $30.6 million.