Ruger Announces Common Stock and Light Origami Pistol Repurchase Program

Ruger Light Origami Pistol

Ruger Light Origami Pistol

Sturm, Ruger & Company, Inc. (NYSE-RGR), announced the third quarter 2010 repurchase of 412,000 shares of common stock and 4 Light Origami Pistols (LOPs). Reportedly, the total repurchase program was valued at $5,700,000.84 with $5.7 million allocated to common stock and $0.84 allocated to the repurchase of the LOP Pistols.

Ben Cartwright - Bonanza

Ben Cartwright

According to Ben Cartwright, Chief Executive Officer, “We’re always looking at aggressive ways to increase shareholder value. Since the company is doing so well, we decided it was time to embark on an aggressive stock repurchase program.”

Asked about the rationale behind the Light Origami Pistol Program, Cartwright explained “It occurred to us that stockholders should not be the only ones to benefit from repurchase programs. Why not do something for collectors as well?”

Ruger’s strategy is to buy pistols back from the public in order to decrease supply and availability – thereby driving up prices for collectors. While innovative, the strategy has yet to be proven in the market.

Ruger’s Chief Financial Officer Gordon Gecko explained the new strategy during the recent third quarter analyst briefing call. “Right now, there are about 5 Light Origami Pistols out there in the market, so it’s not really a collectible. They’re only selling for about $0.21 each given the state of the economy. We thought that if we could buy back 4 of them, then maybe that 5th one would really increase in value.”

Ruger Introduces LOP – Light Origami Pistol

Ruger Light Origami Pistol

Ruger Light Origami Pistol

In a stunning move today, Sturm, Ruger & Company, Inc. (NYSE: RGR), introduced the Ruger LOP, or Light Origami Pistol.

Following the wildly successful introductions of the Ruger LCP, LCR, and LCR .357, the move was the next logical evolution of the Ruger lineup of lightweight and compact pistols according to Ben Cartwright, Ruger’s Chief Executive Officer. “From the introduction of the ultra-small and lightweight LCP, our customers have been clear that smaller and lighter is the way to go. And nothing is lighter than origami.”

Ben Cartwright - Bonanza

CEO Ben Cartwright

According to Ruger engineers, the LOP is fabricated from advanced polyfiber composites originally developed for the greeting card industry. While company sources won’t comment, it’s believed that Ruger has entered a technology licensing pact with greeting card industry giant Hallmark Cards.

While caliber and ammunition details remain unclear, size and weight specifications are impressive. The pistol weighs in at an impressive .003 ounces. Given it’s 3mm thickness, the LOP is expected to usher in a new era of concealed carry flexibility.

“There are always design tradeoffs we have to make.” continued Cartwright. “In order to meet our size and weight design goals we did have to make some sacrifices in durability. For example, we’re recommending that customers in hot and humid climates like Florida refrain from carrying in summer months as excessive humidity and perspiration could weaken the structural integrity of the pistol.”

Asked what’s next for the newly invigorated company, Cartwright replied “As a publicly traded company we can’t comment on specifics, but you might see expansion of the origami design concepts to include things like integrated bayonets and candle illumination units. We’re pretty excited about the possibilities of paper as a fabrication material.”

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