Despite U.S. President Barack Obama's effort to address gun control problems, arms manufacturer Smith & Wesson is currently enjoying increased sales.

In a report by Business Insider, the management of one of the largest gun companies announced that it was raising its guidance because sales have been unexpectedly strong.

Just for three months ending January 31, it estimated that it has about $175 million to $180 million in sales, up from its earlier guidance of $150 million to $155 million. These figures are much higher than the $155 million expected by analysts.

And due to the unexpectedly high sales, Smith & Wesson's stocks are on the rise. The earnings per share are estimated to be $0.39 to $0.41, which is definitely above the previous price of $0.27 to $0.29. To note, analysts only expected $0.29.

CTV News noted that this increase comes after the year 2015 saw more mass shootings and terror attacks. According to a recently released data from the National Instant Criminal Background Check System, it showed that background checks jumped about 38 percent last month.

Moreover, Wedbush Securities analysts James Hardiman said that it indicates a sizeable increase during the year's final month.

In addition, Hardiman said that these developments all spur sales growth by making people less secure about both their safety and gun rights. Apart from Smith & Wesson, Sturm, Roger & Co. are also enjoying increased gun sales.

The relation between the tightening gun regulation and the increase in sales is simple, consumer's think that they won't be able to buy guns easily in the near future, which is why they are buying it right now.

Smith & Wesson projects that for the fiscal year ending on April 30, the company's sales will be between $650 million and $660 million with adjusted earnings between $1.36 and $1.41 per share compared to the company's previous revenue, which ranged between $625 million and $635 million with adjust earnings in the range of $1.26 to $1.31.

According to Market Watch, Thomson Reuter's analysts expected a slightly better annual revenue at $636 million and $1.32 in adjusted earnings.

Furthermore, the largest American firearms maker by revenue said that it has plans to expand in the military market, targeting a U.S. Defense Department contract scheduled to be awarded in 2017 for almost 500,000 new pistols.

But still, consumer business accounts for the atleast 90 percent of the company's sales, and the military market offers opportunities for growth beyond domestic law enforcement, which buys around 100,000 firearms a year.

Police and agents typically replace their pistols every 10 years.