Gun sales, profits, and share prices among top firearm manufacturers have rebounded since the mass shooting of December 2012 in Newtown, CT, exceeding levels seen before the tragic incident that left 26 dead at Sandy Hook Elementary School.
A financial disclosure Monday by the Freedom Group – a collection of gun manufacturers also known as Remington Outdoor Co., which makes the Bushmaster assault rifle used in Newtown – reported that its sales in the past year have risen as much as 36 percent.
The company predicts 2013 sales will total at least US$1.25 billion; 2012 sales checked in at $931.9 million. Freedom Group also expects a 50 percent profit increase from 2012.
The company’s parent organization, Cerberus Capital Management, put Freedom Group up for sale shortly after the Newtown massacre, expecting a wave a tough gun laws to pass nationwide. The Wall Street Journal reports a deal is near to bring in a minority investor for the financially healthy company, which is reportedly worth US $1.2 billion.
“It is apparent,” said the company after the shooting, “that the Sandy Hook tragedy was a watershed event that has raised the national debate on gun control to an unprecedented level.”
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