Ruger Corporate

CORPORATE NEWS

Sturm, Ruger & Company, Inc. Reports First Quarter Earnings of 44¢ per Share
April 27, 2010
Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that for the first quarter of 2010, the Company reported net sales of $68.3 million and earnings per share of 44¢, compared with sales of $63.5 million and earnings per share of 30¢ in the first quarter of 2009.

Chief Executive Officer Michael O. Fifer made the following comments related to the Company's first quarter of 2010:

Our year-over-year performance was highlighted by a 47% increase in earnings and an 8% increase in net sales.
Demand for our products remained strong in the first quarter of 2010. Estimated sell-through of our products from distributors to retailers in the first quarter of 2010 increased by approximately 8% from the first quarter of 2009 and approximately 21% from the fourth quarter of 2009. This sales growth, despite declines of 4% and 5% in National Instant Criminal Background Check System (NICS) background checks over the same periods, suggests we gained market share.
Our firearms unit production increased 3% from the fourth quarter of 2009, and 15% from the first quarter of 2009.
Our backlog grew to 239,900 units and $72 million at the end of the first quarter of 2010, from 181,000 units and $60 million at the end of 2009.
In January, we launched the SR9c, a compact version of the full-size SR9 striker-fired, semi-automatic pistol. The SR9c has been very popular since its introduction, and it has also generated renewed interest in the full-size SR9 pistol.
New product introductions, including the new SR9c pistol, remain a strong driver of demand, and products introduced since January 2008 represented $27 million or 39% percent of sales in the first quarter of 2010.
Cash generated from operations during the first quarter of 2010 was $10 million. At the end of the first quarter of 2010, our cash and equivalents totaled $59 million. Our current ratio is 3.1 to 1 and we have no debt.
During the first quarter of 2010, capital expenditures totaled $5.7 million, much of it related to tooling and equipment for new products. We expect to invest approximately $12 to $18 million for capital expenditures during 2010.
At the end of the first quarter of 2010, stockholders' equity was $103 million, which equates to a book value of $5.39 per share, of which $3.08 per share was cash and equivalents.

Chief Executive Officer Michael O. Fifer issued a letter to Ruger shareholders today, and the Company filed its Quarterly Report on Form 10-Q for the first quarter of 2010. The financial statements included in this Quarterly Report on Form 10-Q are attached to this press release - View Financial Statement.

Both the Quarterly Report on Form 10-Q and the letter to Ruger shareholders on Form 8-K are available on the SEC website at www.sec.gov and the Ruger website at www.ruger.com/corporate. Investors are urged to read the complete Form 10-Q and the letter to shareholders to ensure that they have adequate information to make informed investment judgments.

About Sturm, Ruger & Co., Inc.
Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market. The only full-line manufacturer of American-made firearms, Ruger offers consumers over 400 variations of more than 30 product lines. For more than 60 years, Ruger has been a model of corporate and community responsibility. Our motto, "Arms Makers for Responsible Citizens," echoes the importance of these principles as we work hard to deliver quality and innovative firearms.

The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events.

Sturm, Ruger & Co., Inc. “Arms Makers for Responsible Citizens”®


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CORPORATE NEWS
Sturm, Ruger & Company, Inc. Reports First Quarter Earnings of 44¢ per Share April 27, 2010 Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that for the first quarter of 2010, the Company reported net sales of $68.3 million and earnings per share of 44¢, compared with sales of $63.5 million and earnings per share of 30¢ in the first quarter of 2009. Chief Executive Officer Michael O. Fifer made the following comments related to the Company's first quarter of 2010: Our year-over-year performance was highlighted by a 47% increase in earnings and an 8% increase in net sales. Demand for our products remained strong in the first quarter of 2010. Estimated sell-through of our products from distributors to retailers in the first quarter of 2010 increased by approximately 8% from the first quarter of 2009 and approximately 21% from the fourth quarter of 2009. This sales growth, despite declines of 4% and 5% in National Instant Criminal Background Check System (NICS) background checks over the same periods, suggests we gained market share. Our firearms unit production increased 3% from the fourth quarter of 2009, and 15% from the first quarter of 2009. Our backlog grew to 239,900 units and $72 million at the end of the first quarter of 2010, from 181,000 units and $60 million at the end of 2009. In January, we launched the SR9c, a compact version of the full-size SR9 striker-fired, semi-automatic pistol. The SR9c has been very popular since its introduction, and it has also generated renewed interest in the full-size SR9 pistol. New product introductions, including the new SR9c pistol, remain a strong driver of demand, and products introduced since January 2008 represented $27 million or 39% percent of sales in the first quarter of 2010. Cash generated from operations during the first quarter of 2010 was $10 million. At the end of the first quarter of 2010, our cash and equivalents totaled $59 million. Our current ratio is 3.1 to 1 and we have no debt. During the first quarter of 2010, capital expenditures totaled $5.7 million, much of it related to tooling and equipment for new products. We expect to invest approximately $12 to $18 million for capital expenditures during 2010. At the end of the first quarter of 2010, stockholders' equity was $103 million, which equates to a book value of $5.39 per share, of which $3.08 per share was cash and equivalents. Chief Executive Officer Michael O. Fifer issued a letter to Ruger shareholders today, and the Company filed its Quarterly Report on Form 10-Q for the first quarter of 2010. The financial statements included in this Quarterly Report on Form 10-Q are attached to this press release - View Financial Statement. Both the Quarterly Report on Form 10-Q and the letter to Ruger shareholders on Form 8-K are available on the SEC website at www.sec.gov and the Ruger website at www.ruger.com/corporate. Investors are urged to read the complete Form 10-Q and the letter to shareholders to ensure that they have adequate information to make informed investment judgments. About Sturm, Ruger & Co., Inc. Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market. The only full-line manufacturer of American-made firearms, Ruger offers consumers over 400 variations of more than 30 product lines. For more than 60 years, Ruger has been a model of corporate and community responsibility. Our motto, "Arms Makers for Responsible Citizens," echoes the importance of these principles as we work hard to deliver quality and innovative firearms. The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events. Sturm, Ruger & Co., Inc. “Arms Makers for Responsible Citizens”®
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