Firearms manufacturer Sturm, Ruger & Company, Inc. has just announced that, due to such great success in the first quarter of 2012, the company is halting all new orders until May of 2012 at the earliest.
The company cites a backlog of unfulfilled orders as the reason for the halt in sales.
This comes on the heels of record breaking Black Friday and Christmas holiday sales for firearms in the U.S. in 2011.
Here is the text of the official press release:
March 21, 2012
SOUTHPORT, CT –Sturm, Ruger & Company, Inc. (NYSE-RGR), announced today that for the first quarter 2012, the Company has received orders for more than one million units. Therefore, the Company has temporarily suspended the acceptance of new orders.
Chief Executive Officer Michael O. Fifer made the following comments:
- The Company’s Retailer Programs that were offered from January 1, 2012 through February 29, 2012 were very successful and generated significant orders from retailers to independent wholesale distributors for Ruger firearms.
- Year-to-date, the independent wholesale distributors placed orders with the Company for more than one million Ruger firearms.
- Despite the Company’s continuing successful efforts to increase production rates, the incoming order rate exceeds our capacity to rapidly fulfill these orders. Consequently, the Company has temporarily suspended the acceptance of new orders.
- The Company expects to resume the normal acceptance of orders by the end of May 2012.
Gunalizer.com reports,”…distributors have placed orders for more than one million Ruger firearms which is great news for the Second Amendment because that means the right to keep and bear arms is alive and kicking…”
But realistically, is this really good news, or is it a troubling indicator of what is yet to come in this great nation of ours as we attempt to wrestle record national debt and nationwide governmental budget shortfalls?