Most of us know Smith & Wesson for their guns (or that they licensed their brand to be used in a dealer program), but the company is steadily working to grow its perimeter security business as well. Smith & Wesson Holding Corporation issued a financial update where it said that perimeter security sales were up 25 percent in the company's fourth fiscal quarter compared to where they were in the same quarter a year earlier. S&W reported perimeter security sales of $13.6 million in Q4 2010.
Despite that 25 percent increase, the company said the growth didn't meet expectations. The apparent disconnect between expected and actual growth of S&W's perimeter security business was attributed to "generally longer sales cycles".
In the same timeframe, the firm announced major project completions, including a barrier system at JFK Airport, and the launch of its Extreme Mobile Barrier product. The new barrier is undergoing crash-test rating certification, and the company statement said certification is expected next month.
S&W reported an order backlog of $35.1 million at the end of fiscal Q4 2010; that backlog was $7.4 million lower than the backlog of the preceding quarter, where orders were backlogged to $42.5 million.
Smith & Wesson Holding Corporation acquired Universal Safety Response in July 2009; that acquisition introduced the firm to the perimeter security market.