Shares of Smith & Wesson rose more than 8 percent Friday on the heels of better-than-expected quarterly results.
On Thursday, the gunmaker reported adjusted fiscal fourth-quarter earnings of 66 cents a share on revenue of $221.1 million. Analysts polled by Reuters expected profits of 54 cents a share on revenue of $214.5 million.
"We continued to successfully execute on our long-term strategy, while delivering financial and operational results that set a number of new company records," CEO James Debney said in a statement.
The company's quarterly report drew greater scrutiny for investors following the Orlando shooting massacre on Sunday, which Smith & Wesson did not mention it in its statement.
Analysts at Wedbush Securities said following the earnings release that "SWHC shares should benefit from not only a sizeable 4Q beat but also a view among investors that the solid guidance given on Thursday is beatable given what is assumed to be a surge in demand in coming months following the Orlando tragedy."
"Beyond a short term bump in these shares, however, SWHC faces exceedingly difficult comparisons, and so investors will be watching closely beyond a strong 1Q for signs of sustainable momentum during the remainder of the year," the analysts said in a Thursday note to clients.
Smith & Wesson's stock has skyrocketed more than 49 percent in the past year.
SHWC 12-month chart
Disclosure: Wedbush makes a market in Smith & Wesson.