htm

Year-Over-Year Net Income Growth of 510.02

John Kelly, Chief Financial Officer, said, "Our revenue and earnings
results were on the high side of our guidance, exclusive of our decision to
early adopt SFAS 123(R). Net cash outflow of $1.9 $8. Sales and marketing expenses increased for the fourth quarter of
fiscal 2005 compared with the fourth quarter 2004, as we intensified our
promotional efforts.
The increase in cash flow was attributable to higher pre-tax profits and the
fact that the fourth quarter fiscal 2005 results included over $400,000 in
additional depreciation compared with the fourth quarter of fiscal 2004."

Accounting Matters
Full year and quarterly results have been restated to correct the accounting
for certain stock awards under APB 25 and to early adopt SFAS 123(R). Capital expenditures are expected to be internally
financed.

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MOORESVILLE, N. The FN Five-seveN handgun is larger than most
current issue sidearms carried by law enforcement agencies
throughout the U. The Company decided in fiscal 2004 to exit non-
core product lines, such as optics, Identi-Kit and third-party machining.0 $32.8 $1. In fact, our manufacturing
process improvements have yielded productivity increases that have reached
into the double digits, in both revolver and pistol manufacturing areas.9 million, or between $.17 and $. The Company
cautions that these statements are qualified by important factors that could
cause actual results to differ materially from those reflected by such
forward-looking statements.49

SMITH + WESSON HOLDING CORPORATION and Subsidiaries
CONSOLIDATED BALANCE SHEETS
As of:

Restated
April 30,2005 April 30,2004
ASSETS
Current assets:
Cash and cash equivalents $4,081,475 $5,510,663
Marketable securities -- 1,538,738
Accounts receivable, net of
allowance for doubtful accounts
of $75,000 on April 30, 2005
and $100,000 on April 30, 2004 18,373,713 20,249,858
Inventories 19,892,581 15,986,705
Other current assets 2,388,286 1,984,343
Deferred income taxes 6,119,561 3,900,480
Income tax receivable 3,701 160,596
Total current assets 50,859,317 49,331,383
Property, plant, and equipment, net 16,726,361 11,021,174
Intangibles , net 364,908 351,908
Collateralized cash deposits - 22,673,059
Notes receivable 1,029 ,812 1,072,359
Deferred income taxes 7,806,702 13,045 ,388
Other assets 5,205,246 7,794,700
$81,992,346 $105,289,971

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $12,034,692 $9,608,975
Accrued expenses 4,898,517 6,210,422
Accrued payroll 3,220,730 3,920,426
Accrued taxes other than income 589,449 1,055,506
Accrued profit sharing 2,403,019 2,272,030
Accrued workers' compensation 536,773 225,000
Accrued product liability 2,524,996 2,097,636
Deferred revenue 15,646 442,291
Current portion of notes payable 1,586,464 4,039,456
Total current liabilities 27,810,286 29,871,742
Notes payable 16,028,424 37,870,046
Other non-current liabilities 11,062,459 17,292,848
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.001 par value,
20,000,000 shares authorized, 0 shares
on April 30, 2005 and 2004 issued
and outstanding -- --
Common stock, $.

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com/cgi-bin/prnh/20050505/CLTH087 )
(Logo: http://www. In addition, the Lowe's No. From
May through July, Stephanie Glakas-Tenet and Julie Sussman, co-authors of
"Dare to Repair," will travel with the Fan Experience and teach basic home
repairs at clinics held especially for military families. Customs
approval.2 $0. Operating expenses decreased by
$4. We believe those
changes have begun to yield positive results, which are reflected in the
sequential improvement of fourth quarter gross profit.
Net cash from operations for fiscal 2005 was $6.4 million for
fiscal 2005 was a substantial improvement over net cash outflow of $6. Cash flow for fiscal 2005 included both the
increased capital spending and the restructuring of our long-term debt.04 $.
Gross profit as a percentage of product sales and licensing revenue
increased sequentially from 24.
That tradition continues as we finalize plans for the launch of a very
exciting new product line this fall: the Military + Police, or M+P, pistol
series.smithandwesson .smith-wesson.
(413) 747-3305

Liz Sharp, VP Investor Relations
Smith + Wesson Holding Corp.com

SMITH + WESSON HOLDING CORPORATION and Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS
AND OTHER COMPREHENSIVE INCOME
For the years ended:

Restated Restated
April 30, April 30, April 30,
2005 2004 2003

Net product and services sales $123,963,973 $117,892,507 $98,468,766
License revenue 1,824,077 1,622,128 1,502,448
Cost of products and services
sold 84,861,811 80,080,391 69,294,008
Cost of license revenue 38,221 304,329 296,489
Gross profit 40,888,018 39,129,915 30,380,717

Operating expenses:
Research and development , net 199,042 557,884 905,542
Selling and marketing 13,581,939 12,723,916 11,339,709
General and administrative 15,926,046 20,036,495 15 ,412,909
Restructuring costs -- 1,000,931 --
Total operating expenses 29,707,027 34,319,226 27,658,160

Income from operations 11,180,991 4,810,689 2,722,557

Other income/(expense):
Other income/(expense) (120,373) (1,302,959) 1,789,114
Interest income 290,201 318,868 680,705
Interest expense (2,675,373 ) (3,340,375) (3,587,519)
(2,505,545) (4,324,466) (1 ,117,700)

Income before income taxes 8,675,446 486,223 1,604,857
Income tax (benefit) expense 3,426,490 (346,062) (15,620,636)
Net income $5,248,956 $832,285 $17,225,493
Other comprehensive income:
Unrealized (loss) gain on
marketable securities, net
of $0, ($4,217), and $11,935
tax effect, respectively $(7,231) $24,608
Reclassification of realized
gain to net income (20,245) -- --
Comprehensive income $5,228,711 $825,054 $17,250,101

Weighted average number of
common equivalent shares
outstanding, basic 31,361,009 30,719,114 29,860,228

Net income per share, basic $0.001 par value,
100,000,000 shares authorized,
31,974,017 shares on April 30, 2005
and 30,935 ,799 shares on April 30,
2004 issued and outstanding 31,974 30 ,936
Additional paid-in capital 27,744,819 26,138,726
Accumulated deficit (685,616) (5,934,572)
Accumulated other comprehensive
income -- 20,245
Total stockholders ' equity 27,091,177 20,255,335
$81,992,346 $105,289,971

SMITH + WESSON HOLDING CORPORATION and Subsidiaries
CONSOLIDATED STATEMENTS OF CASH FLOWS

Year ended April 30,
Restated Restated
2005 2004 2003
Cash flows provided by (used for)
operating activities
Net income $5,248,956 $832,285 $17,225,493
Adjustments to reconcile net
income to cash provided by
(used for) operating activities:
Amortization and depreciation 2 ,756,915 1,705,514 987,674
Gain on disposal of IdentiKit (435,815) -- --
(Gain) loss on sale of assets (93,949) 81,988 179,605
Realized gain on sale of
marketable securties (18,780) -- --
Write-off of patents 50,534 -- --
Gain on sale of land -- -- (1,666,132)
Deferred taxes 3,019,605 (488,578) (15,669,987)
Provision for losses on accounts
receivable 52,875 (4,829) 10,000
Provision for excess and obsolete
inventory 97,942 283,063 628 ,248
Provision for loss on purchase
commitments - - -- 1,114,666
Stock option expense 626,150 819,507 1 ,654,302
Stock compensation for services -- 11,400 64,825
Changes in operating assets and
liabilities
(Increase) decrease in assets:
Accounts receivable 1,823,270 (5,336,190) (2,819,403)
Inventories (4,003,818) (670,463) 2,776,363
Other current assets (403,943) 6,113,519 (6,650,719)
Income tax receivable 156,895 14,735 36 ,472
Note receivable 42,547 (72,359) --
Other assets 3,210,945 3,496,721 5,113,878
Increase (decrease) in
liabilities:
Accounts payable 2,425,717 1,599,462 1,054,377
Accrued payroll (699,696) 923,536 (138,227)
Accrued profit sharing 130,989 651,102 801,090
Accrued taxes other than income (466,057) (561,101) (139,252)
Accrued expenses (1,311,905) (3,878 ,601) 4,479,072
Other non-current liabilities (6,230,389) (5,066,149) (7,530,977)
Deferred revenue (276,130) 229,504 (1,384,887)
Accrued workers compensation 311,773 45,000 (35,000)
Accrued product liability 427,360 177,636 (1,080,000)
Due to Walther USA, LLC, net -- -- (529,353)
Net cash provided by (used for)
operating activities 6,441,991 906,702 (1,517,872)

Cash flows provided by (used for)
investing activities:
Payments to acquire marketable
securities -- -- (552,673)
Proceeds from sale of marketable
securities 1,537,273 34,471 --
Decrease (increase) to
collateralized cash deposits 22,673,059 (1,160,059) (285,975)
Payments to acquire patents (84,266) (64,980) (129,123)
Proceeds from sale of property and
equipment 109,075 26,416 754,300
Proceeds from sale of IdentiKit 285,300 -- --
Payments to acquire property and
equipment (8,423,144) (5,676,614) (4,173,418)
Net cash provided by (used for)
investing activities 16,097,297 (6,840,766) (4,386 ,889)

Cash flows financing activities:
Payment on notes payable,
Tomkins (27,000,000) (1,000,000) (2,000,000)
Proceeds from loans and notes
payable 18,000,000 -- --
Debt Issuance Costs (654,843) -- --
Payments on loans and notes
payable, related parties -- -- (357,425)
Proceeds from sale of common stock
under ESPP 244,575 257,729 281,705
Proceeds from exercise of options
to acquire common stock 736,406 95,486 150,000
Payments on loans and notes
payable, unrelated parties (15,294,614) (90,498) --
Net cash used for financing
activities (23,968,476) (737,283) (1,925,720)

Net decrease in cash and cash
equivalents (1,429,188) (6,671,347) (7,830,481)
Cash and cash equivalents,
beginning of year 5,510,663 12,182,010 20,012,491
Cash and cash equivalents, end of
year $4,081,475 $5,510,663 $12,182,010

SMITH + WESSON HOLDING CORPORATION and Subsidiaries
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

Preferred Stock Common Stock
Shares Amount Shares Amount

Balance at April 30, 2002
As previously reported - - $-- 29,683,613 $29,683

Restatement for stock awards
under APB 25 and the
adoption of SFAS 123R --

As restated at April 30, 2002 29,683,613 29,683

Exercise of warrants 614,713 615

Exercise of stock options 76,666 77

Shares issued under ESPP
October 1, 2002 67,117 67
April 1, 2003 122,819 123

Stock option expense -- --

Common stock issued to
settle liabilities 54,700 55

Net income for the year
ended April 30, 2003

Other comprehensive income

As restated at April 30, 2003 -- $-- 30,619,628 $30,620

Exercise of stock options 90,075 90

Shares issued under ESPP
October 1, 2003 116,752 117
April 1, 2004 109,344 109

Stock option expense -- --

Net income for the year
ended April 30, 2004

Other comprehensive income

As restated at April 30, 2004 -- $-- 30,935,799 $30,936

Cashless exercise of warrants 200 ,000 200

Exercise of stock options 647,216 647

Shares issued under ESPP
October 1, 2004 106,811 107
April 1, 2005 84,191 84

Stock option expense -- --

Net income for the year
ended April 30, 2005

Reclassification for realized
gains to net income

Balance at April 30, 2005 -- $-- 31,974,017 $31,974

SMITH + WESSON HOLDING CORPORATION and Subsidiaries
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

Accumulated
Additional Other Total
Paid-in Accumulated Comprehensive Stockholders'
Capital Deficit Income Equity

Balance at April
30, 2002
As previously
reported $15,751,515 $(16,938,840) $2,868 $(1,154,774)

Restatement for
stock awards under
APB 25 and the
adoption of SFAS
123R 7,053,510 (7,053,510) --

As restated at
April 30, 2002 22,805,025 (23,992,350) 2,868 (1,154,774)

Exercise of
warrants 149,385 150,000

Exercise of stock
options 65,723 65,800

Shares issued under
ESPP
October 1, 2002 75,945 76,012
April 1, 2003 139,770 139,893

Stock option
expense 1,654,302 1,654,302

Common stock issued
to
settle liabilities 64,770 64,825

Net income for the
year
ended April 30,
2003 17,225 ,493 17,225,493

Other comprehensive
income 24,608 24,608

As restated at
April 30, 2003 $24,954 ,920 $(6,766,857) $27,476 $18,246,159

Exercise of stock
options 106,796 106,886

Shares issued under
ESPP
October 1, 2003 133,476 133,593
April 1, 2004 124,027 124,136

Stock option
expense 819,507 819,507

Net income for the
year
ended April 30,
2004 832,285 832,285

Other comprehensive
income (7,231) (7,231)

As restated at
April 30, 2004 $26,138,726 $(5,934,572) $20,245 $20,255,335

Cashless exercise
of warrants (200) --

Exercise of stock
options 735,759 736,406

Shares issued under
ESPP
October 1, 2004 123,200 123,307
April 1, 2005 121,184 121,268

Stock option
expense 626,150 626,150

Net income for the
year
ended April 30,
2005 5,248,956 5,248,956

Reclassification
for realized
gains to net
income (20 ,245) (20,245)

Balance at April
30, 2005 $27,744,819 $(685,616 ) $-- $27,091,177

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Lowe's Joins America Supports You Team at Pentagon 'Salute' to the Military

, Lowe's, Team Lowe's Racing and
the co-authors of "Dare to Repair," today join the Department of Defense's
America Supports You program, an ongoing nationwide campaign that showcases
and communicates America's support to men and women serving in the U.7 x 28 restricted ammunition (armor piercing) is sold
only to law enforcement and military agencies.4%; Firearms Growth of 11.0%

SPRINGFIELD, Mass. General and administrative expenses for the fourth
quarter of fiscal 2005 decreased by $1."

Outlook for Fiscal 2006
Net Product Sales for fiscal 2006 are expected to increase by 10 percent
to 12 percent over fiscal 2005, excluding potential additional revenue from
new business ventures we may pursue. No other audio replay will be
available., with manufacturing
facilities in Springfield and Houlton, Maine.

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com.4 million.
"We continue to experience substantial operating improvements in our
Springfield factory in the areas of manufacturing processes, supply chain
management, and lean manufacturing practices.1% (before the impact of the insurance recovery)
in fiscal 2005 to approximately 32% in fiscal 2006.
As a percentage of sales and licensing, operating expenses in 2006 are
expected to increase slightly compared to fiscal 2005 levels, as we expand our
sales and marketing resources and activities.3 million, substantially lower than fiscal 2005 levels,
reflecting our refinancing activities in January 2005. This includes
an anticipated compensation expense relative to SFAS 123 (R) of $1.0 million in fiscal 2006.

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48 Lowe 's Chevrolet, driven by NASCAR Nextel Cup point leader
Jimmie Johnson, will carry the America Supports You decal on the rear deck lid
(trunk) during NASCAR races held during May, National Military Appreciation
Month. Every person
who registers on the site will receive an America Supports You dog tag to wear
as a visible sign of support. On average, 700 people a day are
signing up to receive the America Supports You dog tag.

The only ammunition available to the public are the cartridges
defined by Bureau of Alcohol, Tobacco, Firearms + Explosives
(BATFE) as suitable for sporting use.3
Net Income $5. The live
audio broadcast and replay of the conference call can be accessed on the
Company's Web site at http://www .

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7 million Americans, including individual citizens, businesses and
organizations, have logged onto the AmericaSupportsYou.

The maximum effective range of the Five-seveN handgun is 35 to
50 meters and is comparable to other commercial available
sporting pistols in its range and effectiveness., the
legendary 153-year old company in the global business of safety, security ,
protection and sport, today announced financial results for the fourth quarter
and full fiscal year ended April 30, 2005. The adoption of SFAS 123(R) resulted in an additional
stock compensation expense of $626,000 for the year ended April 30, 2005
compared with $820,000 for the year ended April 30, 2004.7 million in fiscal 2004.4%, over the fourth quarter of fiscal 2004. Revolver sales for the fourth quarter of fiscal 2005
grew by approximately $900,000, or 6.
Gross profit for the fourth quarter of fiscal 2005 declined by
approximately $470,000 over the comparable quarter of fiscal 2004 . In fact, we have tested the M+P 40, the
first pistol in the series, with over a dozen separate law enforcement
agencies across the country.
Net income of between $.

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Allison Barber , deputy assistant secretary of defense for Public Affairs,
said, "We are thrilled to add Lowe's, 'Dare to Repair' and Lowe's Racing to
the America Supports You team. Our gross profit reflects the entire impact of the $4. The decrease in gross profit was attributable to the operational
changes we instituted in the third quarter and increased depreciation expense. Our firearms sales grew by more than 11% for the
year, supported in part by continuing demand for our core products, including
our newer Model 500 revolver.58

Weighted average number of
common equivalent shares
outstanding, diluted 36,636,170 36,011,400 35,372,633

Net income per share, diluted $0.

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(Photo: http://www. is a
FORTUNE(R) 500 company that serves approximately 11 million customers a week
at more than 1,100 home improvement stores in 48 states.0 $117 .7%.5 million compared with the comparable
quarter of 2004. The Company is based in Springfield, Mass.

Contacts:
John Kelly, Chief Financial Officer
Smith + Wesson Holding Corp.

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Business Editors

MCLEAN, Va. Improvement in profitability for fiscal 2005
resulted from multiple factors, including increased sales and our successful
efforts to reduce spending in many areas.9
Operating Expenses $7.5% for the three months ended January 31, 2005
to 31.2% for the three months ended April 30, 2005.
Gross profit as a percentage of product sales and licensing revenue is
expected to increase from 29.3 million
and $6. The conference call may
include forward-looking statements. The conference call will be Web cast and
is scheduled to begin at 5:00 pm Eastern Time (2:00 pm Pacific).

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"
America Supports You bumper stickers will be available free to customers
at Lowe's more than 1,100 stores nationwide. We look forward to working together to ensure
the message that America Supports You reaches all our military men and women
and their families through community activities and all the added visibility
Lowe 's support will give this important campaign.S.6 million in fiscal 2005, largely a result of lower professional fees as
well as savings from moving our corporate office from Arizona to our
Massachusetts location .
Total firearms and firearms related sales grew by over 11% for fiscal 2005
compared with fiscal 2004. In addition, gross profit in the fourth
quarter of fiscal 2005 was negatively impacted by increased depreciation
expense. The impact of SFAS 123(R) was an additional compensation
expense of $210,000 for the quarter ended April 30, 2005 compared with
$329,000 for the quarter ended April 30, 2004. The M+P family of pistols has been developed by our own craftsmen and
designed specifically to address the needs of the law enforcement and military
communities.
Net income for fiscal 2006 is expected to increase to between $6.
Capital expenditures are expected to be $12.

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S."
In June 2005, the Company announced that it intended to early adopt
Statement of Financial Accounting Standards No.

Quarterly Financial Results (in millions, except EPS ):

QUARTER ENDED
April 2005 April 2004

Net Product Sales $36.2 million, or 9. The Company will maintain an audio replay of this conference call on
its website for a period of time after the call.

About Smith + Wesson
Smith + Wesson Holding Corporation, through its subsidiary Smith + Wesson
Corp. The Company also
licenses shooter protection, knives, apparel, footwear and other accessory
lines. 115
lsharp@smith -wesson.14 $0.

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C. The America Supports You dog tags feature the
program logo on a military style dog tag.

Smith + Wesson Holding Corporation Reports Fourth Quarter and Full Year Financial Results

9
Gross Profit $40.2 million
insurance recovery.

All capital expenditures in
fiscal 2005 were internally financed.9%.
Most of the capital expenditures relate to new products, capacity expansion
and process improvements.

Safe Harbor Statement
Certain statements contained in this press release may be deemed to be
forward-looking statements under federal securities laws, and the Company
intends that such forward-looking statements be subject to the safe-harbor
created thereby.17 $0.

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Armed
Forces.newscom.newscom."

About America Supports You
Since the launch of the America Supports You program last November, over
1.mil website to register
the activities and projects in their communities that show their support for
America's Armed Forces, especially those serving in harm's way.atf.1
Operating Expenses $29.2 million favorable impact on gross profit. This increase is expected to come from
improved sales penetration of the current sporting goods channel; new sales in
law enforcement, federal government and international trade channels; new
product introductions, including the M+P pistol series; and initial shipments
of our award-winning Model 460 XVR revolver.18 per diluted share.

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"We would like to support our military families while their loved ones are
serving America," said Bob Gfeller, Lowe's senior vice president.5 billion, Lowe's Companies, Inc., the 59-year old company is the second-largest home improvement retailer
in the world.

FNH USA Statement on the FN Five-seveN Pistol

7 x 28 mm ammunition can be found on
BATFE website: www. Gross profit excluding the one-time insurance benefit was
29.
The operational changes, undertaken to meet product demand and drive new
quality standards, included a transition in our factory to a seven-day
workweek and improvements in our manufacturing processes.4%
decline in non-firearms sales for fiscal 2005 to $10. The increase in firearms sales
was due primarily to higher demand for pistols, which increased by
$2.04 per share.02 $0.

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123(R), "Share-based Payment
(Revised 2004)" (SFAS 123(R)) using the modified retrospective application
method.8%, over the comparable quarter of fiscal 2004.
Total cash flow for the quarter ended April 30, 2005 was a positive
$3. The Smith + Wesson Academy is
America's longest-running firearms training facility for America's public
servants.

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com/cgi -bin/prnh/20031205/LOWLOGO )
The No.S.7 $34.4 million, as compared to
$900,000 for fiscal 2004.4 $11.7 million, or
12. The increase in the gross
profit percentage was due to improvements in production efficiency and the
shift to a seven-day workweek. Our non-firearms sales declined, as expected,
as we focused our efforts on only those products and services that add value
to our brand or provide other strategic benefits. Gross
margin improvement is expected to occur over the course of the year, with the
bulk occurring in the second half. For more information , call (800) 331-0852 or log on to
http://www.

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About Lowe's:
With fiscal year 2004 sales of $36.9 $39. The favorable impact on fiscal
2005 net income was $2. Consequently, the Company has restated prior periods to reflect the
impact of SFAS 123(R).8
Gross Profit $11. The M +P series incorporates a multitude of design,
performance and safety features, all of which we believe will make it a very
strong competitor in these markets. While details on our results for that quarter are not yet
available, our revenue results are on track, giving us increased confidence in
our double-digit revenue growth guidance for the 2006 fiscal year. Such factors include the demand for the Company's
products, the Company's growth opportunities, the ability of the Company to
obtain operational enhancements, the ability of the Company to increase its
production capacity, the ability of the Company to engage additional key
employees, and other risks detailed from time to time in the Company's reports
filed with the SEC, including its Form 10-K Report for the fiscal year ended
April 30, 2005.

This category is for booksellers - either online or bricks and mortar - who specialise in military books.

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S. The improvement in profitability in fiscal 2005 was
enhanced by an agreement reached with one of our insurance carriers that had a
$4. Capital expenditures for fiscal 2005 increased to
$8.6
Net Income Per Diluted Share $.
Michael Golden, President and CEO, said, "We made solid progress on many
fronts in fiscal 2005, driving growth and increasing our profitability through
operational improvements.18 in fiscal 2006 would more than double
the net income achieved in fiscal 2005, excluding the insurance recovery.

Golden concluded, "We have now completed our first quarter of the new 2006
fiscal year.
(480) 949-9700 x.

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"We are
pleased that Lowe's can share the America Supports You message with millions
of fans who follow NASCAR and hope that the 'Dare to Repair' clinics and
Lowe's Fan Experience will offer some support and cheer for military personnel
and their families., Smith + Wesson
Holding Corporation (Amex: SWB), parent company of Smith + Wesson Corp.1%.05

Net product sales for the quarter ended April 30, 2005 increased by
$3. Gross
profit for the fourth quarter of fiscal 2004 was positively impacted by
$1.9 million for the quarter ended April 30, 2005
were approximately $877 ,000, or 10.0%, lower than the comparable quarter of
fiscal 2004.

New Products: The M+P Series
Golden continued, "We have a long history of innovation at Smith + Wesson.
Today, we hold just a small fraction of the law enforcement and military
pistol markets., is one of the world 's largest manufacturers of quality handguns, law
enforcement products and firearm safety/security products.com.

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For more information, visit Lowes. This ammunition
is only released and shipped from a U.2 million, or $.7
million for fiscal 2004.
The M+P is an important, strategic accomplishment for Smith + Wesson.

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All 5.

Authoritative answers to frequently asked questions about the FN
Five-seveN handgun and related 5.14 $0.06 per diluted share.
This strategy, combined with lower demand for handcuffs, generated a 33. Firearms
sales for the fourth quarter of fiscal 2005 increased by $3.
Operating expenses of $7. We expect our interest expense
to be approximately $1.17 and $.

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Based in Mooresville,
N.C. Customs controlled
custom bonded warehouse (CBW ) upon BATFE and U.gov/firearms/firearmstech/fabriquen.

Full Year 2005 Financial Results (in millions, except EPS):

YEAR ENDED
April 2005 April 2004

Net Product Sales $124.8
Net Income Per Diluted Share $0.8
Net Income $1.8%, over the comparable quarter of 2004. We are exceptionally pleased with the response."

Conference Call
The Company will host a conference call today, August 15, 2005, to discuss
its 2005 financial results and outlook for 2006.

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5% for fiscal 2005 was slightly lower than fiscal
2004 of 32.2 million in adjustments related to an agreement reached with one of our
insurance carriers in fiscal 2004.1 million, a $723,000 improvement over the fourth quarter of fiscal 2004.
These system-level enhancements are important factors in supporting future
growth in both segments. This increase will be
driven by improved efficiencies in manufacturing operations, offset by
increased depreciation expense related to new capital expenditures .7 million,
or $.com, under the Investor Relations
section.

browning militaria

The Team Lowe's Fan Experience will travel to military bases giving
military families an opportunity to enjoy an interactive racing exhibit.----In response to
questions raised by misinformation concerning the FN Five-seveN(R)
pistol , FNH USA, LLC offers the following:

The Five-seveN handgun is a full size pistol and is not easily
concealable.
Our gross profit of 32.4 million from $5.0 million, or 24. Such forward -looking statements include statements regarding
the Company's anticipated sales, sales margins, gross margins, expenses,
earnings, capital expenditures, penetration rates for new and existing markets
and new product shipments, for the fiscal year ending April 30, 2006; the
Company's strategies; the demand for the Company's products; the success of
the Company's efforts to achieve improvements in manufacturing processes; the
ability of the Company to introduce any new products and the success of any
new products, including the Military and Police pistol series.03 $0.