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Contact : investorrelations@smith-wesson.com ( 413 ) 747-3448 Smith & Wesson NASDAQ : SWBI Smith & Wesson Brands , Inc. Reports Third Quarter Fiscal 2021 Financial Results Record Quarterly Net Sales of $ 257.6 Million - Record Net Income of $ 62.3 Million - Record GAAP / non - GAAP EPS of $ 1.12 / Share - $ 100M Share Buyback Program and $ 0.05 / Share Quarterly Dividend SPRINGFIELD , Mass . , March 4 , 2021 - Smith & Wesson Brands , Inc. ( NASDAQ Global Select : SWBI ) , a U.S. - based leader in firearm manufacturing and design , today announced financial results for the third quarter of fiscal 2021 ended January 31 , 2021. On August 24 , 2020 , the company completed the previously announced spin - off of its outdoor products and accessories business . Therefore , as of the second quarter , all historical financial information for that business is reported as discontinued operations . Unless otherwise indicated , any reference to income statement items refers to results from continuing operations . Third Quarter Fiscal 2021 Consolidated Financial Highlights • Quarterly net sales were $ 257.6 million compared with $ 127.4 million for the comparable quarter last year , an increase of 102.2 % . • Gross margin for the quarter was 42.6 % compared with 28 % for the comparable quarter last year . • • Quarterly GAAP net income was a record $ 62.3 million , or $ 1.12 per diluted share , compared with $ 4.2 million , or $ 0.08 per diluted share , for the comparable quarter last year . Quarterly non - GAAP net income was $ 62.4 million , or $ 1.12 per diluted share , compared with $ 7.8 million , or $ 0.14 per diluted share , for the comparable quarter last year . GAAP to non - GAAP adjustments for income exclude costs related to the spin - off of the outdoor products and accessories business , COVID - 19 related expenses , and other costs . For a detailed reconciliation , see the schedules that follow in this release . Quarterly non - GAAP Adjusted EBITDAS was $ 89.8 million , or 34.9 % of net sales , compared with $ 15.0 million , or 11.8 % of net sales , for the comparable quarter last year . Mark Smith , President and Chief Executive Officer , commented , " I could not be more proud of our dedicated American workforce as , for the third time in a row , they delivered a record - breaking quarter for our great historic company . Over the past year , millions of our fellow Americans from all walks of life have chosen to empower themselves by exercising their 2nd Amendment rights for the first time , and our loyal employees have risen to the challenge - delivering over 1.8 million units in the first three quarters of our fiscal year alone , ensuring that these new members of the shooting sports community were able to choose the highest quality , innovative firearms that Smith & Wesson has been known for since Page 1 of 7