Gun Deaths Cost U.S. Billions Each Year While Firearms Makers Thrive | HuffPost
The CDC attempts to put a price tag on gun violence in an earlier report. Combining the direct medical costs of treating fatal gun injuries with the economic damage of lost lives, firearms-related deaths cost the United States $37 billion in 2005, the most recent year for which a CDC estimate is available. Non-fatal gun injuries cost an additional $3.7 billion that year, according to the agency.
Guns and ammunition manufacturers will make a projected $993 million in profits on sales of $11.7 billion this year, according to a report issued by the market-research company IBISWorld. Revenues have grown 5.7 percent since 2007, the report says, and the murders in Newtown have sparked a surge in gun sales in recent days.
The Freedom Group, Colt Defense and other large gun makers are privately owned and don’t have to disclose financial information, but publicly traded firms do. According to their most recent annual reports as compiled by Yahoo! Finance, Smith & Wesson Holding Corp. earned $58.5 million in profits on $501 million in sales; Sturm, Ruger & Co. had $61.4 million in profit from $443.4 million in revenue; and Winchester manufacturer Olin Corp., which also is in the chemicals business, had profits of $133.7 million on $2.04 billion in sales.