Gunmaker Smith & Wesson expects fiscal fourth-quarter earnings and revenue to exceed its previous expectations.

Shares jumped 5.8 percent in after-hours trading to $9.85. Through the close, the stock was up 10 percent since the start of the year.

For the quarter ended April 30, the company expects per-share earnings from continuing operations of 44 cents, up from 27 cents a year earlier. Sales are expected to grow 38 percent to $179 million.

The firearms seller also said that its board has approved the repurchase of up to $100 million in stock, replacing a previous buyback program.

“We believe that investing in our own company is presently one of our greatest opportunities,” said Chief Executive James Debney, saying the moves will allow the company to be “strategically opportunistic.”

Smith & Wesson has been helped by strong demand in recent quarters, as fears of increased regulation has sent gun enthusiasts on a buying spree.