News Politics: Smith & Wesson’s CEO is faulting “politicians and their lobbying partners in the media” for increased gun violence across the U.S., saying weapons manufacturers are being unfairly blamed.
The written comments by Mark Smith, posted Monday in a statement on the company’s website, came weeks after the executive refused to testify before the House Oversight Committee, which is investigating the firearms industry in the wake of multiple mass shootings. The panel began its probe in late May after a total of 31 people died in mass shootings at a grocery store in Buffalo, New York, and an elementary school in Uvalde, Texas, within a two-week period.
Smith & Wesson and four other gunmakers have generated more than $1 billion in revenue from selling such firearms to civilians over the past decade, the panel found, citing data provided by manufacturers.
The executive’s words drew a strong rebuke from Maloney.
A recent report by the U.S. Congress Joint Economic Committee found gun violence victims and their families pay more than $1 billion a year in medical costs.
Smith & Wesson did not respond to a request for comment. The company in June reported net income of $36.1 million on sales of $181.3 million for the fourth quarter and profits of $194.5 million on sales of $864.1 million for fiscal 2022. Smith & Wesson shares are down roughly 14% on the year.