Growth Industry: Ruger Approaching Record Gun Sales

Sturm, Ruger & Co. is on pace to break its own record for single-year sales, the company announced Monday in a press release.

Company officials say Ruger produced its 1 millionth gun of 2012 -- a Ruger SR1911 which will be hand-engraved by Baron Technology Inc. and auctioned to help fund the NRA Institute for Legislative Action -- as the company closes in on its record of 1,114,700 firearms sold in 2011.

"Last year, Ruger became the first commercial firearms company to produce one million firearms in one year, and we were incredibly excited and proud to reach that milestone," Ruger President and CEO Mike Fifer said in the press release. "It took us nearly all of 2011 to build one million firearms, but in 2012 we accomplished it on August 15. We continue to invest in and improve our manufacturing processes to help us respond to the strong demand for Ruger firearms. We expect 2012 will be another record-breaking year for Ruger, and we want to thank our loyal customers for their continued support."

Ruger's sales are reflective of a nationwide growth in firearm sales. In July, National Instant Criminal Background Check System (NICS) background checks increased 25.5 percent compared to July 2011, marking the 26th straight month NICS checks have increased on a year-over-year basis.

In addition, a recent Gallup poll showed a record low number of citizens in favor of banning handguns, dropping to 26 percent. The annual Shooting, Hunting, Outdoor Trade Show (SHOT Show) held January in Las Vegas also recorded a record 61,000 attendees, 36,000 buyers and 1,600 exhibitors.