With demand still far outstripping supply, gun slinger Sturm, Ruger (RGR 0.52%) announced yesterday it is opening its third manufacturing plant and the first major expansion for the company in more than 25 years.
The facility will be 220,000 square feet and located in Mayodan, N.C., and is expected to be finalized in August. Sturm, Ruger currently employs more than 2,000 people in its two plants in Newport, N.H., and Prescott, Ariz.
Last quarter the gunmaker reported revenues surged 39% to $155.9 million year over year, while earnings jumped 52% to $1.20 per share as it added new products to its lineup that accounted for more than a third of the increase in sales.
