Sturm Ruger swung to a profit in the second quarter as stronger demand for its firearms and improved manufacturing execution helped lift revenue.

The Southport, Conn.-based firearms maker on Wednesday posted a profit of $6.98 million, or 43 cents a share, compared with a loss of $17.22 million, or $1.05 a share, a year earlier. Adjusted earnings per share came in at 52 cents.

Revenue rose 19% to $158.1 million from $132.5 million a year earlier.

The company said sales growth was driven by higher product demand, improved product mix and a 10% increase in average selling price to $384.

Sturm Ruger said estimated sell-through of its products from distributors to retailers increased 19% in the second quarter from a year earlier, outpacing a 5% increase in adjusted background checks tracked by the National Instant Criminal Background Check System, a gauge of firearm demand.

Distributor inventories also declined, while the company said it reduced finished goods inventories by 100,100 units compared with a year earlier.

The company said it incurred about $1.2 million in expenses during the quarter related to negotiations and the finalization of a strategic cooperation agreement with Beretta Holding, as well as costs related to a transition in its chief financial officer role.

Shares were up around 8% at $40.75 in after hours trading.

Sturm Ruger declared a quarterly dividend of 21 cents a share, payable Aug. 28 to shareholders of record as of Aug. 14.