He said sales in the current quarter could represent a "reset from the huge surge" that began late last year.
Ruger said second-quarter net sales rose 50% to $119.6 million. That translated to earnings-per-share of $1.63, up from 91 cents in the same period last year.
Fifer said the results were driven by unusually high sales of firearm accessories, including magazines.
Gun control advocates have been pushing for a ban on high-capacity magazines, which have been used in mass shootings nationwide. As a result, those magazines have been selling out at gun shops and online, even as prices skyrocket.
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Fifer said the growth in accessories sales came after Ruger added additional capacity "to take advantage of that demand."
Ruger also reported strong sales of new products, such as the LC 380 pistol and SR 45 pistol.
Overall, Fifer said the company's performance in the quarter was driven by "the anti-gun political environment," as well as new products, and the growing number of gun owners.
While he was skeptical that the spike in gun sales would last much longer as the political debate over gun control cools, he remains confident that the gun industry will continue to grow overall.