Firearms maker Sturm, Ruger & Company, Inc. (RGR) reported a net loss for the fourth quarter of $14.8 million or $0.77 per share, compared to net income of $26.6 million or 1.33 per share for the year-ago quarter.
In the fourth quarter of 2014, the company recorded an expense of $41.0 million related to the termination and settlement of its defined benefit pension plans.
Excluding items, adjusted net income for the latest quarter was $10.5 million or $0.53 per share.
Net sales for the fourth quarter fell to $122.61 million from $181.90 million a year earlier.
Analysts polled by Thomson Reuters expected the company to earn $0.40 per share on revenue of $101.89 million for the fourth quarter. Analysts' estimates typically exclude special items.
The company also declared a dividend of $0.17 per share for the fourth quarter, payable on March 27 to shareholders of record as of March 13.
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