Gunmaker Smith & Wesson is down big after last night saying its sales in the upcoming year will decline.
In morning trade, shares are down nearly 10%.
For its fiscal year 2015, the company said sales are expected to be between $585 million and $600 million. Analysts were expecting sales of more than $620 million.
For its just-completed fiscal year, the company reported record sales of $626.6 million.
Smith & Wesson also reported fiscal year profit of $1.49 per share, and said that next year it should earn between $1.30 and $1.40 per share.
In the fourth quarter, Smith & Wesson reported profit of $25 million, or $0.44 per share, on revenue of $170.4 million.
This is the second straight quarter the stock is having a huge swing after its earnings. In March, shares surged more than 16% after the company's third quarter results beat expectations and the company raised its outlook.
Smith & Wesson reiterated on its conference call that longer-term, it plans to grow 8% to 10% and said on the call that it believes the firearms industry is, "in the midst of a long-term and sustainable growth trend."
In 2013, total firearm background checks hit a record high, according to data from the FBI.
See Also:John McCain Is Very Upset Chuck Todd Made Fun Of Him The Largest Religion In Every State Other Than ChristianityThis Company Pays Employees $25,000 To Quit — No Strings Attached — Even If They Were Just Hired'Sexy' Mugshot Goes Viral And Gets Photoshopped Into Calvin Klein AdsScary World Cup Head Injury Shows Soccer Needs To Change One Of Its Most Basic Rules