<SEC-DOCUMENT>0001174947-16-003000.txt : 20160804
<SEC-HEADER>0001174947-16-003000.hdr.sgml : 20160804
<ACCEPTANCE-DATETIME>20160804171345
ACCESSION NUMBER:		0001174947-16-003000
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160803
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20160804
DATE AS OF CHANGE:		20160804

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STURM RUGER & CO INC
		CENTRAL INDEX KEY:			0000095029
		STANDARD INDUSTRIAL CLASSIFICATION:	ORDNANCE & ACCESSORIES, (NO VEHICLES/GUIDED MISSILES) [3480]
		IRS NUMBER:				060633559
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10435
		FILM NUMBER:		161808386

	BUSINESS ADDRESS:	
		STREET 1:		1 LACEY PLACE
		CITY:			SOUTHPORT
		STATE:			CT
		ZIP:			06490
		BUSINESS PHONE:		2032597843

	MAIL ADDRESS:	
		STREET 2:		1 LACEY PLACE
		CITY:			SOUTHPORT
		STATE:			CT
		ZIP:			06490
</SEC-HEADER>
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<TYPE>8-K
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<FILENAME>form8k-16387_rgr.htm
<DESCRIPTION>8-K
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Report (Date of earliest event reported)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>August 3, 2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>STURM, RUGER &amp; COMPANY, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact Name of Registrant as Specified in its
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DELAWARE</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or Other Jurisdiction of Incorporation)</P></TD>
    <TD STYLE="width: 33%; padding-right: 4pt; padding-left: 4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>001-10435</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Commission File Number)</P></TD>
    <TD STYLE="width: 32%; padding-right: 4pt; padding-left: 4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>06-0633559</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(IRS Employer Identification Number)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 68%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: normal; font-size: 10pt; text-align: center"><B>ONE LACEY PLACE, SOUTHPORT, CONNECTICUT</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: normal; font-size: 10pt; text-align: center"><B>06890</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code <B>(203) 259-7843</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(<I>see</I> General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT>
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT>
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">  <FONT STYLE="font-family: Wingdings">o</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT>
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 7.01. Regulation FD Disclosure.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We are furnishing this Report on Form 8-K in
connection with the disclosure of information during a conference call and webcast on August 3, 2016, discussing our second quarter
2016 financial results. The transcript of the conference call and webcast is included as Exhibit 99.1 to this Report on Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The information in this Report on Form 8-K (including
the exhibit) is furnished pursuant to Item 7.01 and shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18
of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This Report on Form
8-K will not be deemed an admission as to the materiality of any information in the Report that is required to be disclosed solely
by Regulation FD.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The text included with this Report on Form
8-K and the replay of the conference call and webcast on August 3, 2016, is available on our website located at <U>www.ruger.com/corporate</U>,
although we reserve the right to discontinue that availability at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in">Certain statements contained in this Report
on Form 8-K (including the exhibit) may be deemed to be forward-looking statements under federal securities laws, and we intend
that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, but
are not limited to, statements regarding market demand, sales levels of firearms, anticipated castings sales and earnings, the
need for external financing for operations or capital expenditures, the results of pending litigation against the Company, the
impact of future firearms control and environmental legislation, and accounting estimates. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish
revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or
to reflect the occurrence of subsequent unanticipated events.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 1in; font-size: 10pt; text-decoration: underline"><U>Exhibit No</U>.</TD>
    <TD STYLE="font-size: 10pt; text-decoration: underline"><U>Description</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">99.1</TD>
    <TD STYLE="font-size: 10pt">Transcript of conference call and webcast conducted on August 3, 2016.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">STURM, RUGER &amp; COMPANY, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="width: 0.1in">&nbsp;</TD>
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 3in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/S/ Thomas A. Dineen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Thomas A. Dineen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Principal Financial Officer,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Principal Accounting Officer,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Vice President, Treasurer and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dated: August 4, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: right">EXHIBIT 99.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: right">&nbsp;</P>

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        <P STYLE="color: #6B9915; font: small-caps 18pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">&nbsp;</font></P>
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    <td style="border-bottom: #006595 1pt solid; padding-right: 0.25in; padding-left: 0.25in; text-align: left; font-size: 10pt; font-variant: small-caps; color: #003399; font-weight: bold"><font style="font-family: Times New Roman, Times, Serif; font-size: 18pt; font-weight: normal; color: #BCBEC0">THOMSON REUTERS STREETEVENTS</font></td></tr>
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    <td style="border-bottom: #006595 1pt solid; padding-right: 0.25in; padding-left: 0.25in; text-align: left; font-size: 10pt; font-variant: small-caps; color: #003399; font-weight: bold"><font style="font-family: Times New Roman, Times, Serif; font-size: 24pt; color: white">EDITED TRANSCRIPT</font></td></tr>
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    <td style="border-bottom: #006595 1pt solid; padding-right: 0.25in; padding-left: 0.25in; text-align: left; font-size: 10pt; font-variant: small-caps; color: #003399; font-weight: bold"><font style="font-family: Times New Roman, Times, Serif; font-size: 18pt; font-weight: normal; font-variant: normal; color: white">RGR - Q2 2016 Sturm Ruger &amp; Co Inc Earnings Call</font></td></tr>
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    <td style="border-bottom: #006595 1pt solid; padding-right: 0.25in; padding-left: 0.25in; text-align: left; font-size: 10pt; font-variant: small-caps; color: #003399; font-weight: bold">&nbsp;</td></tr>
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Times New Roman, Times, Serif; color: rgb(0,51,153)"><FONT STYLE="font: normal 10pt Arial, Helvetica, Sans-Serif; color: white">AUGUST 03, 2016 / 01:00PM&nbsp;&nbsp;GMT, RGR - Q2 2016 Sturm Ruger &amp; Co Inc Earnings Call</FONT></TD></TR></TABLE></DIV>
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<P STYLE="color: #003399; font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase; text-indent: 0">CORPORATE
PARTICIPANTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left; text-indent: 0">Michael Fifer<FONT STYLE="font-weight: normal"><I>
Sturm, Ruger &amp; Company, Inc. - CEO</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left; text-indent: 0">Patricia Shepard<FONT STYLE="font-weight: normal"><I>
Sturm, Ruger &amp; Company, Inc. &ndash; Assistant General Counsel</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left; text-indent: 0">Chris Killoy<FONT STYLE="font-weight: normal"><I>
Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO</I></FONT></P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase; text-indent: 0">&nbsp;</P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase; text-indent: 0">CONFERENCE
CALL PARTICIPANTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left; text-indent: 0">Brian Rafn<FONT STYLE="font-weight: normal"><I>
Morgan Dempsey Capital Management - Analyst</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 4pt; text-align: left; text-indent: 0">Aaron Smith<FONT STYLE="font-weight: normal"><I>
CNNMoney - Analyst</I></FONT></P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase; text-indent: 0">&nbsp;</P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase; text-indent: 0">PRESENTATION</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid">Operator<I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Good
day, ladies and gentlemen, and welcome to the Sturm Ruger second-quarter 2016 earnings conference call.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">(Operator
Instructions)</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">As
a reminder, this conference call is being recorded. I would now like to turn the conference call over to Michael Fifer, Chief Executive
Officer. Please go ahead.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Michael
Fifer <I> - Sturm, Ruger &amp; Company, Inc. - CEO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Good
morning. And welcome to the Sturm Ruger &amp; Company, second-quarter 2016 conference call.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">I
would like Patricia Shepard, our Assistant General Counsel, to read the caution on forward-looking statements, which will be followed
by an overview of the second quarter and our recent news, and then we will answer questions. Patricia?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Patricia
Shepard <I> - Sturm, Ruger &amp; Company, Inc. &ndash; Assistant General Counsel </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thanks,
Mike. We want to remind everyone that statements made in the course of this meeting that state the Company's or Management's intentions,
hopes, beliefs, expectations or predictions of the future are forward-looking statements. It is important to note that the Company's
actual results could differ materially from those projected in such forward-looking statements.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">Additional
information concerning factors that could cause actual results to differ materially from those in the forward-looking statements
is contained from time to time in the Company's SEC filings, including but not limited to, the Company's reports on form 10-K for
the year ended December 31, 2015, and form 10-Q for the quarter ended July 2, 2016. Copies of the documents may be obtained by
contacting the Company or the SEC, or on the Company website at www.ruger.com/corporate, or of course, the SEC website at www.SEC.gov.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">We
reference non-GAAP EBITDA. Please note the reconciliation of GAAP net income to non-GAAP EBITDA can be found in our Form 10-K for
the year ended December 31, 2015, and of course, our Form 10-Q for the quarter ended July 2, 2016, which are also posted on our
website. Furthermore, the Company disclaims all responsibility to update forward-looking statements. Mike?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Michael
Fifer <I> - Sturm, Ruger &amp; Company, Inc. - CEO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thank
you, Patricia. The Ruger Take Action campaign. On Tuesday we announced the Ruger Take Action campaign, which includes a $5 million
challenge grant to benefit the NRA's Institute for Legislative Action, the NRA-ILA.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Times New Roman, Times, Serif; color: rgb(0,51,153)"><FONT STYLE="font: normal 10pt Arial, Helvetica, Sans-Serif; color: white">AUGUST 03, 2016 / 01:00PM&nbsp;&nbsp;GMT, RGR - Q2 2016 Sturm Ruger &amp; Co Inc Earnings Call</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal"></FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">We
hope this call to action inspires our customers and all freedom-loving Americans to take action in support of the Second Amendment,
especially in the months leading up to the November election. Our call to action includes campaigns to encourage our customers
to contact their Senators, Representatives and other influential politicians to support the NRA by purchasing a Ruger firearm,
as we extended our promise to donate $2 to the NRA-ILA for every gun sold through the November elections, and to make a financial
contribution to the NRA.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">This
is where our challenge grant comes into effect. Ruger will match contributions to the NRA-ILA dollar for dollar, up to $5 million
in the aggregate, between now and the November elections. Perhaps most importantly, we are encouraging our customers and all Americans
to have their voice heard and to vote in the November elections.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
have no doubt about it, the makeup of the Supreme Court is on the ballot this November, and therefore, the Second Amendment is
also firmly on the ballot. We think the NRA, through its Institute for Legislative Action, is best positioned to support the key
races in the upcoming elections that will affect our firearm rights for decades to come.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Succession
plan. Last night, we formally announced our CEO succession plan that has been in the works for a few years. On May 9, 2017, the
date of our next annual meeting of shareholders, I will retire and Chris Killoy will succeed me as CEO.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">I
have worked closely with Chris for 10 years, and he is well qualified to become Ruger's fourth CEO. He has been very successful
in his 27 years in the firearms industry and has justifiably earned a great reputation. Our employees, customers and shareholders
will be in good hands.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">And
post-retirement, I look forward to supporting Chris and the rest of the team when I assume new responsibilities on the Board of
Directors. Let me turn this over to Chris now, and he will discuss the Company's operations in the second quarter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thank
you, Mike. Financial results. For the second quarter of 2016, net sales were $167.9 million, and fully diluted earnings were $1.22
per share. For the corresponding period in 2015, net sales were $140.9 million, and fully diluted earnings were $0.91 per share.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">For
the first half of 2016, net sales were $341.1 million, and fully diluted earnings were $2.44 per share. For the corresponding period
in 2015, net sales were $277.8 million, and fully diluted earnings were $1.71 per share. Our second-quarter 2016 EBITDA was $45.1
million or 27% of sales, compared to our second-quarter 2015 EBITDA of $36.2 million or 26% of sales.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Demand.
Demand remains strong in the second quarter. The estimated sell-through of the Company's products from the independent wholesale
distributors to retailers, which we believe to be the best available measure of demand, increased 20% in the second quarter of
2016 and 18% in the first half of 2016 from the comparable prior-year periods.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We
believe the increase in estimated sell-through of the Company's products from the independent wholesale distributors to retailers
is attributable to, one, the increase in overall industry demand fueled in part by the current political climate, two, strong demand
for certain new Ruger products, and three, increased production of several products in strong demand.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
increased sell-through of our products in 2016 compares favorably to corresponding increases in the adjusted NICS checks of 15%
in the second quarter of 2016, and 16% in the first half of 2016. As a reminder, the adjusted NICS checks are the National Instant
Criminal Background Checks System background checks, as adjusted by the National Shooting Sports Foundation, and are often used
as a proxy for retail demand.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Production
and inventory. Twice a month, we review the estimated sell-through of our products from the independent wholesale distributors
to retailers and look at the inventory levels at the independent wholesale distributors and the Company by product family. These
reviews, coupled with some capacity expansion for products in strong demand, resulted in increased total unit production of 21%
in the first half of 2016, compared to the first half of 2015.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">During
the second quarter, our finished goods inventories increased 26,000 units, and the inventory of Ruger firearms at the independent
wholesale distributors increased 50,000 units. This inventory growth was principally in seasonal products that will be in greater
demand during the latter half of the year, and is typical of our inventory strategy at this time of the year.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Times New Roman, Times, Serif; color: rgb(0,51,153)"><FONT STYLE="font: normal 10pt Arial, Helvetica, Sans-Serif; color: white">AUGUST 03, 2016 / 01:00PM&nbsp;&nbsp;GMT, RGR - Q2 2016 Sturm Ruger &amp; Co Inc Earnings Call</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal"></FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">During
the third quarter, we also hope to build inventory of products that we believe will be in strong demand after the November elections.
We are working hard to increase manufacturing capacity for these products, but successfully building that inventory may be challenging
as current demand apparently continues to exceed our capacity, even as we work to increase it.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">New
product development. New products represented $103 million or 30% of firearm sales in the first half of 2016. New product sales
include only major new products that were introduced in the past two years, including the American Pistol, the Precision Rifle,
the AR-556 Modern Sporting Rifle, and the LC9s Pistol.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">New
product development remains a top priority. We recently launched the Ruger 1911 Lightweight Commander Style Pistol in 9mm, and
the Ruger 10/22 Takedown Lite rifle. We look forward to more launches in the second half of 2016.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Balance
sheet. At July 2, 2016, our cash and cash equivalents totaled $103 million, an increase of $34 million from December 31, 2015.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Our
current ratio was 2.8 to 1, and we have no debt. At July 2, 2016, stockholders equity was $255 million, which equates to a book
value of $13.27 per share.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Cash
flows. In the first six months of 2016, we generated $66 million of cash from operations. We reinvested $11 million of that back
into the Company in the form of capital expenditures.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We
estimate that capital expenditures in 2016 will be approximately $30 million. Our primary focus for investment will be new product
development.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Cash
returned to shareholders. In the first half of 2016, the Company returned $16 million to its shareholders through the payment of
dividends. Our Board of Directors has declared a $0.49 per share quarterly dividend for shareholders of record as of August 12,
2016, payable on August 26, 2016. This will return an additional $9 million to our shareholders.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">As
a reminder, our quarterly dividend is approximately 40% of net income.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Michael
Fifer <I> - Sturm, Ruger &amp; Company, Inc. - CEO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Those
were the highlights for the second quarter of 2016. Operator, may we please have the first question?</FONT></P>

<P STYLE="color: #6B9915; font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-transform: uppercase; text-indent: 0">QUESTION AND
ANSWER</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid; text-indent: 0">Operator<I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">(Operator
Instructions)</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">Brian
Rafn, Morgan Dempsey.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Good
morning, guys. Just thought, Mike, fabulous job on your tenure, and congratulations to you, Chris, on the promotion.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">You
kind of jumped my first question, it sounds like robust demand is continuing and exceeding capacity. If you guys look at product
developments, given what you guys have launched previously with the American Pistol to Precision Rifle, the AR-556 Takedown, how
robust would you say your pipeline is in the near term for new products?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Brian,
this is Chris. As you know, we don't discuss the specifics of our new products, but suffice it to say we do have some great new
products coming down the road and our engineers are working very hard to get those out in the near term and next year, as well.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><P STYLE="margin-top: 0pt; text-align: right; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P><P STYLE="margin-top: 0pt; text-align: right; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><IMG SRC="image_001.gif" ALT="" STYLE="float: right"></P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #424242">THOMSON REUTERS STREETEVENTS | </FONT><FONT STYLE="color: blue">www.streetevents.com</FONT><FONT STYLE="color: #424242"> | </FONT><FONT STYLE="color: blue">Contact Us</FONT><BR> <BR> <FONT STYLE="font-size: 10pt; color: #424242">&copy; 2016 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies.</FONT></P><P STYLE="margin-top: 0pt; text-align: right; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;<BR></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Times New Roman, Times, Serif; color: rgb(0,51,153)"><FONT STYLE="font: normal 10pt Arial, Helvetica, Sans-Serif; color: white">AUGUST 03, 2016 / 01:00PM&nbsp;&nbsp;GMT, RGR - Q2 2016 Sturm Ruger &amp; Co Inc Earnings Call</FONT></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Yes,
okay. My thought being is, sometimes when you clean out the farm team and you move them up to the major league level, you got to
kind of reload, but you still have stuff in moving through the pipeline. Let me ask you on your product development teams, do they
work on a specific product kind of alpha to omega, or do they handle multiple product designs?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Brian,
typically, what they do is they will work on the core product associated with the new product launch, and then stay with it for
the initial round of derivatives as we start to expand either calibers, things like barrel links and things like that, and then
after that, they will wind that team down and that moves further in the production stream, they will move on to other projects.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Okay.
Since your Analyst Day, have you added any more product line sales at Mayodan?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
don't believe we have, Brian. I think what you saw down at the Analyst Day was pretty much where we are, and the folks are continue
to work on expanding capacity, but we haven't added additional sales at this point.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I'll
add just one more and get back in line. Any cost feed stock materials, wood grades for stocks or metal alloys, wax, greensand,
anything in the cost of goods sold inflation-wise?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Nothing
out of the ordinary that we have seen. Nothing that would come to mind that would be significant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Okay.
Thanks.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid; text-indent: 0">Operator<I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thank
you.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">(Operator
Instructions)</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">Aaron
Smith, CNNMoney.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Aaron
Smith <I> - CNNMoney - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thank
you for taking my call. Hello, Mr. Killoy. I just had a two-part question for you. You mentioned something about the current political
climate, you also mentioned about being unable to keep up with the strong demand for various firearms, how much of an impact has
Hillary Clinton and the mass shootings having on gun sales, and do you have any plans to expand manufacturing in order to meet
demand?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Times New Roman, Times, Serif; color: rgb(0,51,153)"><FONT STYLE="font: normal 10pt Arial, Helvetica, Sans-Serif; color: white">AUGUST 03, 2016 / 01:00PM&nbsp;&nbsp;GMT, RGR - Q2 2016 Sturm Ruger &amp; Co Inc Earnings Call</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Michael
Fifer <I> - Sturm, Ruger &amp; Company, Inc. - CEO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Mr.
Smith, this is Mike Pfeiffer. We don't have any way of measuring the political impact, or certainly not assigning it to any one
politician's comments.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">But
certainly this is a unique time in our history, because for the very first time ever we have the nominee of a major political party,
one with a very reasonable likelihood of winning the presidency, overtly stating that the Supreme Court got it wrong in the Heller
case, and actively campaigning against the lawful commerce in arms. That is unprecedented, and it will be hard for any of us to
believe that didn't have some impact, but it can't be measured.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Aaron
Smith <I> - CNNMoney - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Okay.
You're saying she's actively campaigning against the -- how are you putting that, the lawful --?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Michael
Fifer <I> - Sturm, Ruger &amp; Company, Inc. - CEO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
lawful commerce in arms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Aaron
Smith <I> - CNNMoney - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Okay,
okay. And then as far as mass shootings, like the one in Orlando, which I believed happened during the most recent quarter, how
much of an impact do you think that is having on gun sales?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Michael
Fifer <I> - Sturm, Ruger &amp; Company, Inc. - CEO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Again,
something we can't measure. It didn't appear to have a material impact. Our distributors I think reported to us that they got some
calls the next day, but it quickly died down.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Aaron
Smith <I> - CNNMoney - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">And
then just the last part about manufacturing, this has been going on for several years now, we've seen this intense demand for guns
is growing, growing, growing, but a lot of gun companies have tried to figure out if it's worth investing and expanding manufacturing,
which is very expensive, what are you planning to do with that?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Michael
Fifer <I> - Sturm, Ruger &amp; Company, Inc. - CEO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We
don't discuss our future plans, but you can certainly look at all of our filings and history. We expanded quite a lot from 2008
through early 2014, and then we retracted in the second half of 2014 and 2015, and then as we've just reported, the first half
of this year production is up again. We try to flex with demand.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Aaron
Smith <I> - CNNMoney - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Okay.
Thank you, Mr. Fifer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid; text-indent: 0">Operator<I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We
have a follow-up from Brian Rafn, Morgan Dempsey.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Times New Roman, Times, Serif; color: rgb(0,51,153)"><FONT STYLE="font: normal 10pt Arial, Helvetica, Sans-Serif; color: white">AUGUST 03, 2016 / 01:00PM&nbsp;&nbsp;GMT, RGR - Q2 2016 Sturm Ruger &amp; Co Inc Earnings Call</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Short
line. Give me a sense, Chris, if I look back at the 10-K, you list 115 guys in the Research and Development, is that your engineering
design team, or is that like Six Sigma guys or metallurgists?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash;President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Brian,
that is everyone. That includes all of them, that's the core engineers that are working in all three factories, as well as some
of our R&amp;D folks.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
heard you guys had some lab hidden someplace or something or some skunk works or what I didn't know about. All right, that's good.
What's been your success to sell through on the Silent-SR Suppressor, maybe some, a little highlight on the ammunition, and then
the knife, the CRKT knives or whatever? As accessories.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I'll
try and hit all three there, Brian. On the silencer product line, again, one of the unique things about Class III items is the
licensing requirements that go along with that, which since we sell through that product in two-step distribution, we've got a
long delay as it goes to distributors, then to retailers, and then ultimately to consumers. And in fact, it is probably just in
the last week or so that we are seeing the very first product move from the retailer to the ultimate consumer, based on the licensing
requirements that are required at each step of the way.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">So,
gauging demand on that product has been a little tough until we get some more out in the marketplace. The second question, if you
would, Brian, was the --?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Ammunition</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We're
seeing a little better ammunition availability on 22s, but there are still a lot of people chasing that, and it does seem like
some of the ammo manufacturers have indeed responded to that demand, but again, their lead times to ramp-up are long as well.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Correct
me if -- go ahead. The knives, too. Yes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">The
last one on Columbia River Knife and Tools, they're a great licensing partner of ours, and we do sell some of their products on
our Shop Ruger website, but that is a licensing arrangement that we have with Columbia River, as we do with several other licensees.
And they're doing a great job representing Ruger with the brand and through their own channels, and that's so again a licensing
relationship rather than something beyond that.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Okay.
Correct me if I'm wrong, Chris, last year, I think you guys had a seasonal marketing, some discount promotions, I think it was
10 rifles, 11th one free for the fall retailers, some of these retailer shows. Is that something that you're going to do in 2016?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Times New Roman, Times, Serif; color: rgb(0,51,153)"><FONT STYLE="font: normal 10pt Arial, Helvetica, Sans-Serif; color: white">AUGUST 03, 2016 / 01:00PM&nbsp;&nbsp;GMT, RGR - Q2 2016 Sturm Ruger &amp; Co Inc Earnings Call</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Right
now, Brian, last year we actually had two rounds of full programs in the January/February time period, and again in the summer
period. This year, we had the full round in January/February, and we have a modified offering this summer. We really are focusing
only on the long guns, our Centerfire Americans, Rimfire Americans, and our 10/22 product line are the only programs we have in
place this summer. And then next year, of course, going into January, we would anticipate a full line of product offerings to the
retailers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Okay,
and then any updates on the mini foundries up at Newport I think you guys are running two? Any kind of versus the main integrated
mill?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Brian,
we are running two, and they are going very well. We've had some great labor efficiencies coming out of there, the folks at Pine
Tree Castings have done a great job with some really exciting new technology as it comes to wax and shell, as well as the drying
technology that they are using.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">But
of late, we think that the right approach, rather than a third mini foundry, might in fact be a hybrid approach, where we retain
the capacity of things like our larger furnaces in the main foundry and introduce some of the technology we have learned from the
mini sales, and that would allow us some greater flexibility for things like use of revert, the recycling of metal that we process
through our cutoff procedures, and so we think that may be the approach, rather than a third true mini foundry.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Got
you. I appreciate that. The metal injection molding that you guys have at Earth down in Missouri, I think, have you guys incrementally
added anymore kind of vertically integrated content in producing parts yourselves from that since it's purchase?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I>- Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I'm
not sure it's changed our approach to design, because one of the things our engineers are always looking for is the best process
for the product we are working on. But when we -- they have been very helpful for some rapid prototyping efforts on MIM parts,
and so they are one of our suppliers for the MIM parts that we use in many of our product lines.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Any
headcount additions hiring, you guys talked about adding capacity, you talked about robust demand exceeding capacity. Does that
also included headcount or are you strictly talking machinery?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy<I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Well,
we are certainly going through normal attrition, and looking to add folks where it makes sense. We've increased the hours and the
overtime for a lot of our folks, which is one of the things we always work to flex with demand.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">The
other one is our plant in Mayodan, we were down there recently, and we saw on the analyst tour. Mayodan continues to add to their
headcount. They recently had a hiring fair and did very well with that, so we're getting some great folks applying for the positions
at Ruger in all three of the factories.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Okay.
That's good for me. Thanks, Mike, or thanks, Chris.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid; text-indent: 0">Operator<I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Times New Roman, Times, Serif; color: rgb(0,51,153)"><FONT STYLE="font: normal 10pt Arial, Helvetica, Sans-Serif; color: white">AUGUST 03, 2016 / 01:00PM&nbsp;&nbsp;GMT, RGR - Q2 2016 Sturm Ruger &amp; Co Inc Earnings Call</FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thank
you ladies and gentlemen.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">(Operator
Instructions)</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-weight: normal; font-variant: normal">One
moment for questions. We have a follow-up from Brian Rafn, Morgan Dempsey.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">I
will keep going. Chris, CapEx budget for this year? What are your thoughts?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Brian,
we're looking at S&amp;M right now is about $30 million.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Primarily
for new product development? Yes, Sir. Yes, how is that -- maybe you won't share it, how is that allocated across Newport, Prescott,
Mayodan?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Well,
you know, we don't disclose the split by location, but all of our factories have some exciting projects going on, so there's work
going on in all three with new products right now, to be honest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Okay.
As you -- more of a strategic question, Chris, as you guys go forward, Newport, Prescott, Mayodan, is there -- are those plants
going to take on like when I think of Prescott I think of pistols, when I think of Newport I think of rifles and revolvers, and
then the modern sporting rifle in Mayodan. Are you going to see that type of product line dedication or do you really launch, you
know, a product depending on where your engineers are, and where your specialties are in design.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">In
the old days, it used to be very specific where it was always rifles and revolvers were in Newport, pistols were always in Prescott.
But we've gotten away from that, and we are approaching [the] best mix both from engineering and capacity, and so we try to balance
that out as we go forward, and I think you'll see all three plants having a potentially more diverse product offering coming out
of them. It just depends on where the engineers are, what's on their plate and what the next project in the hopper is.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Brian
Rafn <I> - Morgan Dempsey Capital Management - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">All
right. Hey, best of luck, guys. Thanks much.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thanks,
Brian.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid; text-indent: 0">Operator<I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">We
have a follow-up from Aaron Smith with CNNMoney.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 9 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: bottom; background-color: #006595"><TD STYLE="width: 100%; padding-top: 2pt; padding-bottom: 4pt; text-align: left; font: small-caps bold 10pt Times New Roman, Times, Serif; color: rgb(0,51,153)"><FONT STYLE="font: normal 10pt Arial, Helvetica, Sans-Serif; color: white">AUGUST 03, 2016 / 01:00PM&nbsp;&nbsp;GMT, RGR - Q2 2016 Sturm Ruger &amp; Co Inc Earnings Call</FONT></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Aaron
Smith <I> - CNNMoney - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thanks,
guys, for taking my call earlier. I just had a follow-up question, I know you've talked a little bit about the kinds of guns that
been very popular, some of the new products that have been selling very well, and could you tell me a little bit about the strength
in sales in handguns versus AR-15-style guns? How has that been over the last quarter?</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Chris
Killoy <I> - Sturm, Ruger &amp; Company, Inc. &ndash; President &amp; COO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Aaron,
we don't actually disclose those kind of breakdowns.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Aaron
Smith <I> - CNNMoney - Analyst </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Okay.
Thanks, anyhow.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid; text-indent: 0">Operator<I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Thank
you. I'm showing no further questions. I'd like to turn the call back over to Michael Fifer for closing remarks.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; text-indent: 0; border-top: #003399 0.25pt solid">Michael
Fifer <I> - Sturm, Ruger &amp; Company, Inc. - CEO </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">In
closing, I'd like to thank all of you for your continued interest in Ruger, and I'd like to thank the 2,200-plus dedicated folks
on the Ruger Team who work hard every day to deliver American product to our loyal customers. Thank you.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 4pt 0; border-top: #003399 0.25pt solid; text-indent: 0">Operator<I> </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">Ladies
and gentlemen, thank you for participating in today's conference. This does conclude the program, you may all disconnect. Everyone,
have a great day.</FONT></P>

<P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; font-variant: normal">&nbsp;</FONT></P>

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