The manufacturer of the assault-style rifles used in the mass shootings at Sandy Hook Elementary School in Newtown, Conn., last year said sales of its products rose as much as 36 percent in the year since the incident.
The disclosure comes in financial guidance released Monday by the Freedom Group, a collection of gun manufacturers that has recently begun referring to itself as Remington Outdoor Co., reflecting its most popular brand.
The company says 2013 sales are expected to be between $1.25 billion and $1.275 billion, compared with $931.9 million in 2012. Profits are expected to soar as well. The company projects adjusted 2013 EBITDA to be between $235 million and $240 million, more than a 50 percent increase from 2012.
In its updated financial guidance, the company does not say which of its products is primarily responsible for the increase in sales. Last month, the company reported strong demand since December 2012 across its product line, particularly for rifles, handguns and ammunition.
Investigators concluded last month that Adam Lanza, 20, used a Bushmaster model XM15-E2S rifle to kill 26 people at the school on Dec. 14, 2012.