Obama's the Best Thing That Ever Happened to Handguns

Just look at the latest financial report from gunmaker Smith & Wesson:

Smith & Wesson Holding Corporation Reports First Quarter Fiscal 2010 Financial Results

Record Quarterly Sales of $102 Million (+30%)

Record Quarterly Net Income of $12.6 Million (+458%)

Record Quarterly, Fully Diluted EPS of $0.21 (+320%)

Record Adjusted EBITDAS of $20 Million

SPRINGFIELD, Mass., Sept. 9 /PRNewswire-FirstCall/ — Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., the legendary 157-year old company in the global business of safety, security, protection and sport, today announced financial results for the first fiscal quarter ended July 31, 2009.

Net sales for the first fiscal quarter ended July 31, 2009 were $102.2 million, which was $23.8 million, or 30.3%, higher than net sales of $78.5 million for the first fiscal quarter last year. Gross profit of $35.6 million, or 34.8% of sales, for the first quarter of fiscal 2010 increased by 43.4% compared with gross profit of $24.8 million, or 31.7% of sales, for the first quarter last year. Net income for the first quarter of fiscal 2010 was $12.6 million, or $0.21 per diluted share, compared with $2.3 million, or $0.05 per diluted share, for the first quarter of fiscal 2009. Net income included a non-cash, fair-value adjustment to the contingent consideration accrual related to our acquisition of Universal Safety Response (”USR”) that increased fully diluted earnings per share by $0.05 in the current fiscal period. Adjusted EBITDAS, a non-GAAP financial measure, was $20.2 million for the first quarter, nearly double the $10.2 million in the first quarter of fiscal 2009.

That's a lot of records. People who never owned a gun before are buying them out of fear that one day soon they won't be able too. Others are adding to their existing supply.

More guns in the hands of good guys is not a threat to anyone...but bad guys.