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Expand chart
Data: Factset; Chart: Axios Visuals

The former Smith & Wesson has seen its stock fall badly this year, but got a reprieve on Wednesday after it released its fiscal year 2019 earnings report.

What happened: The company didn't deliver great numbers, but they weren't as bad as feared, which made the stock's 25% decline so far this year look a bit overdone.

  • AOBC closed fiscal 2019 with a net income of $18.4 million, or 33 cents per share, down from $20.1 million net income, or 37 cents a share, reported in fiscal 2018.

What they're saying: "Fiscal 2019 was a year that presented challenges for the firearms industry, including changes in the political environment and reduced consumer demand for firearms and for the accessories that are attached to them," said James Debney, AOBC's president and CEO.

The big picture: AOBC's stock has had a hard time since President Barack Obama left office, data provided to MarketWatch's Paul Brandus from the National Shooting Sports Foundation shows. Between 2008 and 2017:

  • Gun industry jobs grew 87% — but just 1.3% in 2017, Obama's first full year out of office.
  • Wages grew 142% — but have grown just one-third of one-percent since.

The bottom line: The "total economic impact" of the gun industry grew 169% — but has grown just 1.4% since.

Go deeper: How Corporate America is silencing the gun industry

Go deeper

Updated 49 mins ago - Politics & Policy

U.S. faces urgent anti-hacker crisis

Illustration: Allie Carl/Axios

The Biden administration is accelerating efforts to fill nearly 600,000 vacant cybersecurity positions in the public and private sectors bogging down efforts to protect digital infrastructure.

Why it matters: Following a deluge of ransomware attacks targeting critical government and corporate infrastructure this year, clogs in the talent pipeline are leaving federal, cash-strapped local governments and Big Business even more susceptible to hacking.

Mike Allen, author of AM
6 hours ago - World

Courage vs. coddling with China

Peng Shuai of China serves during the China Open in Beijing in 2017. Photo: Andy Wong/AP

The women's professional tennis tour suspended tournaments in China Wednesday out of concern for Peng Shuai, on the same day that a top business voice made excuses for Beijing.

Why it matters: Ahead of February's Winter Olympics in Beijing, some sports figures are taking on the regime — while Big Business shrinks from confrontation with the world's second-largest economy.

6 hours ago - Sports

What to know about the first MLB lockout since 1995

Illustration: Shoshana Gordon/Axios

Hope you enjoyed the recent flurry of free-agent activity, because it's likely the last non-lockout-related MLB news for a while.

Driving the news: The owners locked out the players after the collective bargaining agreement expired at midnight last night, leading to MLB's ninth work stoppage — and first since 1995.