Smith & Wesson Enters Long-Gun Market with M&P15 Rifles
January 18 2006 - 7:00AM
PR Newswire (US)
Company Expands Military & Police Series With Rifles Designed
for Law Enforcement, Military, and Sporting Shooters SPRINGFIELD,
Mass., Jan. 18 /PRNewswire-FirstCall/ -- Smith & Wesson Holding
Corporation (AMEX:SWB), parent company of Smith & Wesson Corp.,
the legendary, 154-year old, global provider of products and
services for safety, security, protection and sport, announced its
initial entry into the market for tactical rifles and will begin
shipments in early February of the Smith & Wesson M&P15
Rifle and the Smith & Wesson M&P15T Rifle. These tactical
rifles are additions to the Company's Military & Police
(M&P) series of firearms specifically engineered to meet the
needs of global military and police personnel, as well as sporting
shooters. Michael F. Golden, Smith & Wesson's President and
CEO, said, "We are entering the $1 billion market for long guns
with products that provide the exceptional functionality and
reliability that Smith & Wesson customers have come to expect.
We believe the features of these tactical rifles make them strong
contenders in the military and law enforcement markets. We also
believe that our M&P rifle series fills a tremendous gap in the
marketplace by delivering high-quality, feature-rich tactical
rifles that will be readily available in commercial channels. As a
company that stands for safety, security, protection and sport, the
Smith & Wesson brand and reputation have earned a position for
us in that market. The M&P15 rifle series is produced entirely
in the United States under manufacturing alliances with several
American companies." The M&P rifle series is based upon a
combat-proven design and incorporates a full set of standard
features currently unmatched in other AR-15-type tactical rifles.
Both the M&P15 and the M&P15T (with its high-end accessory
package) are rugged, lightweight, semi-automatic rifles. Both are
chambered in 5.56mm NATO ammunition and are built to perform under
a diverse range of conditions. Reliability features of the
gas-operated rifles include a chrome-lined gas key, bolt carrier
and barrel. Both the M&P15 and the M&P15T are designed to
accommodate a variety of shooters and shooting positions through
the use of a six-position adjustable stock. The M&P15
incorporates a traditional AR-15 design featuring a removable
carry-handle and adjustable rear and front post sights, allowing
for quick target acquisition and convenient handling. The black
anodized rifle measures 35 inches in length when fully extended and
has an unloaded weight of 6.74 pounds. The M&P15T, with its
high-end accessory package, features folding front and rear battle
sights and a four-sided equipment rail system that allows the
addition of accessories, such as lights, laser-aiming devices, and
vertical grips. The rifle measures 35 inches in length when fully
extended and has an unloaded weight of 6.85 pounds. The M&P15
and M&P15T join a comprehensive family of Smith & Wesson
products designed and manufactured to meet the needs of law
enforcement professionals. Other products include a full-line of
Smith & Wesson's world-renowned revolvers used for primary duty
and backup side arms, the recently announced M&P series of
polymer pistols designed specifically for law enforcement and
military use, and a wide range of handcuffs, restraint products and
tactical vision devices. Both the M&P15 and the M&P15T will
be unveiled at SHOT Show 2006, February 9-12 at the Las Vegas,
Nevada Convention Center. The Company expects that editorial
coverage in multiple industry publications will occur beginning
with that event. Initial shipments of both rifles are expected to
begin concurrent with SHOT Show and will be distributed initially
to law enforcement agencies for test and evaluation and to the
sporting goods distribution channel. The M&P15 will carry a
suggested retail price of $1,200, while the M&P15T will retail
for $1,700. About Smith & Wesson The Company is a global
provider of products and services for the safety, security,
protection and sport markets. The Company manufactures firearms and
handcuffs and is home to America's longest-running firearms
training facilities for America's public servants. The Company also
markets a variety of products for sport shooters, including firearm
safety/security devices, shooter protective gear, knives, apparel,
footwear and other accessory lines. The Company is based in
Springfield, Mass., with manufacturing facilities in Springfield
and Houlton, Maine. Contact (800) 331-0852 or log on to
http://www.smith-wesson.com/. Certain statements contained in this
document may be deemed to be forward- looking statements under
federal securities laws, and Smith & Wesson intends that such
forward-looking statements be subject to the safe-harbor created
thereby. Forward-looking statements include the engineering,
functionality, reliability, features, capabilities and performance
of the M&P series of rifles; the Company's plans to begin
shipments of its new rifles in February 2006; the competitive
advantages of the M&P rifle series in various markets; the
unmatched feature set of the M&P rifle series; the availability
of the M&P rifles series in commercial markets; and expected
media coverage regarding the M&P rifles series in industry
publications. The Company cautions that these statements are
qualified by important factors that could cause actual results to
differ materially from those reflected by the forward-looking
statements contained herein. Such factors include the acceptance of
the M&P rifle series by military and police personnel and other
customers; the performance, capabilities, and reliability of the
M&P rifle series in actual use; reviews of the M&P rifle
series by the media and industry publications; the Company's
ability to produce M&P rifles in accordance with their intended
features and performance; as well as other risks as identified from
time to time in the Company's SEC reports, including Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K, and Annual
Reports on Form 10-K. DATASOURCE: Smith & Wesson Holding
Corporation CONTACT: Liz Sharp, VP Investor Relations of Smith
& Wesson Holding Corporation, +1-480-949-9700, ext. 115, ; or
Industry, Gary Giudice of Blue Heron Communications,
+1-800-654-3766, , for Smith & Wesson Holding Corporation Web
site: http://www.smith-wesson.com/
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