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| Gun sales rise in US as Obama unveils control plans | Gun sales rise in US as Obama unveils control plans |
| (35 minutes later) | |
| Sales of guns in the US are rising, just as President Barack Obama unveils control measures designed to limit the availability of weapons. | Sales of guns in the US are rising, just as President Barack Obama unveils control measures designed to limit the availability of weapons. |
| Shares in gun makers Smith & Wesson and Sturm Ruger jumped on news of strong sales in the final months of last year. | Shares in gun makers Smith & Wesson and Sturm Ruger jumped on news of strong sales in the final months of last year. |
| On Monday, Smith & Wesson raised its sales estimate, saying the market was "stronger than originally anticipated". | On Monday, Smith & Wesson raised its sales estimate, saying the market was "stronger than originally anticipated". |
| The number of background checks on potential buyers - a guide to future sales - has also risen. | The number of background checks on potential buyers - a guide to future sales - has also risen. |
| The National Instant Criminal Background Check System said that checks were up by about 38% last month compared with December 2014. | The National Instant Criminal Background Check System said that checks were up by about 38% last month compared with December 2014. |
| Smith & Wesson's trading update said that for the three months ending 31 January it expected sales to be about $175m-$180m. Earlier guidance put the likely figure at between $150m and $155m. | Smith & Wesson's trading update said that for the three months ending 31 January it expected sales to be about $175m-$180m. Earlier guidance put the likely figure at between $150m and $155m. |
| The company said that "the sell-through rate of its products at distribution has been stronger than originally anticipated, resulting in reduced distributor inventories of its firearms". That means guns are being bought faster than Smith & Wesson can supply them. | The company said that "the sell-through rate of its products at distribution has been stronger than originally anticipated, resulting in reduced distributor inventories of its firearms". That means guns are being bought faster than Smith & Wesson can supply them. |
| The firm said its net profit was $14.2m (£9.46m) for the period, compared with $5.2m for the same period last year. | The firm said its net profit was $14.2m (£9.46m) for the period, compared with $5.2m for the same period last year. |
| In December, the company reported that profits had nearly tripled for the three months to October. | |
| Mass shootings | Mass shootings |
| On Monday, the White House unveiled proposals for gun control measures that require more sellers to get licences and more gun buyers to undergo background checks. | On Monday, the White House unveiled proposals for gun control measures that require more sellers to get licences and more gun buyers to undergo background checks. |
| The US Bureau of Alcohol, Tobacco, Firearms and Explosives will require that people who sell guns at stores, at gun shows or over the internet be licensed and conduct checks, | The US Bureau of Alcohol, Tobacco, Firearms and Explosives will require that people who sell guns at stores, at gun shows or over the internet be licensed and conduct checks, |
| The bureau is also finalising a rule requiring background checks for buyers of dangerous weapons from a trust, corporation or other legal entity as well. Mr Obama is due to disclose further details about the plans on Tuesday. | The bureau is also finalising a rule requiring background checks for buyers of dangerous weapons from a trust, corporation or other legal entity as well. Mr Obama is due to disclose further details about the plans on Tuesday. |
| The president has vowed to curb gun violence and unregulated sales after a series of mass shootings, which included last month's attack in San Bernardino, California, that killed 14 people. | The president has vowed to curb gun violence and unregulated sales after a series of mass shootings, which included last month's attack in San Bernardino, California, that killed 14 people. |
| James Hardiman, an analyst at Wedbush Securities, said the increase in gun sales was probably due to buyers fearing tougher controls. | James Hardiman, an analyst at Wedbush Securities, said the increase in gun sales was probably due to buyers fearing tougher controls. |
| News of the stronger gun market saw Smith & Wesson's shares close up 5.9% on Monday, despite stock markets in general falling sharply. Competitor Sturm Ruger saw its share rise 2.9% to a 52-week high. | News of the stronger gun market saw Smith & Wesson's shares close up 5.9% on Monday, despite stock markets in general falling sharply. Competitor Sturm Ruger saw its share rise 2.9% to a 52-week high. |