[jyl]

I see. Thanks.

SWHC bought T/C to get into the hunting rifle biz. They introduced a S&W branded hunting rifle which has been a flop, and so have been their imported shotguns. It didn't help that sales of hunting rifles/shotguns slumped hard in late 2007 and through 2008, and the industry suffered an inventory glut which they have had to work off. As best I can tell, sales of the T/C-branded guns participated in the slump. I do not know if the hunting rifle/shotgun market has started improving. The major sporting goods chains (CAB GMTN etc) have been reporting better results in their hunting/fishing departments over the last two qtrs, but I haven't seen it in SWHC's long gun results. I didn't pay much attention to the last reported qtr though.