For months, the US weapons industry has been profiting from a surge in sales of handguns and other firearms. The FBI in July noted a 28-per-cent increase in background checks, which are required before most legal weapons purchases.So far in 2016 there have been more than 16 million such background requests, which are a reliable indicator of private weapons purchases. Its overall revenue grew 40 per cent to 207 million dollars. "We are very pleased with our first quarter results, which exceeded our financial guidance," company head James Debney said in a statement.Smith & Wesson shares have gained 35 per cent since the beginning of the year. On Thursday its shares gained 5 per cent.- DPA

Source: The Nation Bangkok September 02, 2016 00:33 UTC