Gun sales nationwide in 2021 fell compared to 2020 – estimated at 18,515,188 and 20 million, respectively – but Ruger’s sales grew. The company’s quarterly report, released late last month, reflects an increase in net sales to $ 730.7 million, from $ 568.9 million.
CEO Christopher J. Killoy told investors, “2021 has been a year of great achievement and financial results. We started the year with virtually no completed inventory, so our 28% increase in sales and 109 percent return on net current assets was only possible due to the tremendous efforts of our dedicated workforce that kept our factories buzzing throughout the year. . In addition to greater volume, improved labor productivity and other manufacturing efficiencies have driven greater profitability. ”
The firm also breathed new life into a beloved range of firearms late last year. “Another highlight in 2021 was the relaunch of the Marlin brand as we launched the first Ruger-made, Marlin lever action rifles in December,” Killoy said. “Our extensive product offerings, ranging from personal protection pistols, to bolt action shotguns, to our classic revolvers, to the new Ruger-manufactured, Marlin lever action rifles, provide some stability in the volatile firearms market and allow us to meet demand in many of the diverse sectors of the industry. “
One investor noted that Rugers are all made in America during a follow-up conference, but asked if the company could meet the huge demand for Marlins while maintaining the policy. Killoy explained Ruger had already addressed the situation at his Mayodan facility in North Carolina, which was starring on Marlin production. He replied: “We recently rented another facility near about the same square footage … and this gives us the opportunity to move our finished goods there, move our call center there and … allow us to move additional production lines in. to place that facility. ” Model 1894s and 336s are already in the works at the location.
Other details in the report include the fact that Ruger invested $ 1.5 million to maintain the safety and health of its employees during the height of the COVID-19 pandemic. The company also increased its finished goods inventory last year and “Distributor inventory of the company’s products increased by 125,000 units, but remains below the level needed to support the rapid satisfaction of retail demand for most products.”