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Quarterly profits rose to $32.3 million, or $1.63 per share, compared with $18 million, or 91 cents per share a year earlier thanks also to new gun owners, increased manufacturing capacity and new guns such as the LC380 and SR45 pistols introduced this year. In June, Connecticut gun manufacturer PTR Industries said it is moving to South Carolina after Connecticut state lawmakers passed stricter gun control laws in response to the Sandy Hook school shootings. The company's plant near Myrtle Beach will employ 140 people, many of whom will relocate from Connecticut over three years. The Mayodan plant will produce new gun models that haven't yet been announced, Fifer told analysts. The new machine tools used for the Mayodan plan have already been ordered and production expected to begin early next year, Fifer said. The company also has plants in Newport, N.H., and Prescott, Ariz., and employs about 2,100.
[Associated
Press;
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