Smith & Wesson Receives Military Contract
S&W Receives Pistol Order From US Army for Afghanistan National Army
SPRINGFIELD, Mass., April 18 /PRNewswire-FirstCall/ -- Smith & Wesson Holding Corp. (Amex: SWB), the legendary 153-year old firearms maker, today announced that it has secured a contract to supply pistols to the United States Army Security Assistance Command (USASC) Special Projects Office for shipment to the Afghanistan National Army.
Michael Golden, President and Chief Executive Officer, said, "This order is significant because it demonstrates that we are executing on our committed strategy to become a significant supplier of high quality pistol products to the military and the federal government. I view this as a major milestone in that strategy and as the first step in making the Smith & Wesson brand synonymous with quality firearms for military and federal usage."
Smith & Wesson competed with other leading firearms manufacturers and indicated that it won the contract based on the features of the SW9VE. The Company declined to comment on specific volume and pricing, but stated that it will manufacture and ship its SW9VE pistols in May and June of 2005. The pistols will be manufactured entirely in the United States.
Golden continued, "I am especially pleased because this order represents a domestic purchase by the U.S. government, utilizing U.S. tax dollars, for products which will be manufactured in the U.S. We believe there are many similar opportunities for Smith & Wesson to continue to support our country's military needs, while generating both revenue and jobs in the U.S. To that end, we will continue to intensify our focus and strengthen our sales force to further penetrate the military market."
The SW9VE is a double-action-only pistol constructed with a durable polymer frame and a through-hardened stainless steel slide and barrel. The 9 mm pistol features an ergonomic design to accommodate various hand sizes. Unique features include simple operation procedures and tool-less disassembly.
About Smith & Wesson
Smith & Wesson Holding Corp., through its subsidiary Smith & Wesson Corp., is one of the world's largest manufacturers of quality handguns, law enforcement products and firearm safety/security products. The Company also provides shooter protection, knives, apparel, footwear and other accessory lines. The Company is based in Springfield, Mass., with manufacturing facilities in Springfield and Houlton, Maine. The Smith & Wesson Academy is America's longest-running firearms training facility for America's public servants. For more information, call (800) 331-0852 or log on to www.smith-wesson.com.
Safe Harbor Statement
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and the Company intends that such forward-looking statements be subject to the safe-harbor created thereby. Such forward-looking statements include statements regarding the Company's anticipated sales to the military and the federal government and sales into those respective markets, the Company's ability to successfully meet manufacturing and shipping requirements, and the generation of future revenue and job opportunities. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include the demand for the Company's products, the Company's growth opportunities, the ability of the Company to engage additional key sales related employees, and other risks detailed from time to time in the Company's reports filed with the SEC.
CONTACTS: Tom Taylor, VP Marketing (413) 747-3372 email@example.com: Liz Sharp, Investor Relations (480) 367-5015 firstname.lastname@example.org
SOURCE Smith & Wesson Holding Corp. -0- 04/18/2005 /CONTACT: Tom Taylor, VP Marketing, +1-413-747-3372, email@example.com, or Liz Sharp, Investor Relations, +1-480-367-5015, firstname.lastname@example.org, both of Smith & Wesson/ /Web site: http://www.smith-wesson.com / (SWB) CO: Smith & Wesson Holding Corp. ST: Massachusetts, Afghanistan IN: ARO MAC SU: CON EL-CC -- LAM064 -- 4761 04/18/2005 07:00 EDT http://www.prnewswire.com