Smith & Wesson Holding Corp. (NASDAQ:SWHC) shares were up on Wednesday following a strong outlook for the company.

Smith & Wesson has announced that firearm sales for its current quarter are expected to be between $175 million to $179 million. This is up 8% from its expectations announced six weeks ago. The company is predicting sales of between $546 million and $550 million for 2014, reports CNNMoney.

Smith & Wesson is expected to report earnings of 26 cents per share for its current quarter. Analysts are also predicting that the company will report revenue of $164.62 million in its next earnings report, TheStreet.com notes.

It’s likely that Smith & Wesson’s improved outlook is part of a stronger market for firearms manufacturers. Sturm, Ruger & Company’s (NYSE:RGR) shares rising 9% on Wednesday also lends credence to this idea, reports CNNMoney.

SWHC shares were up 13% as of Wednesday afternoon.

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