UPDATE 2-Smith & Wesson Q4 tops St; sees dip in Q1 order backlog

* Q4 EPS 14 cents/shr vs est 12 cents

* Sees Q1 rev between $92 mln to $94 mln

* Expects order backlogs to drop in Q1

* Shares down 5 pct in after-mkt trade

(Adds conference call details, updates share movement)

June 22 (Reuters) - U.S. firearms maker Smith & Wesson Holding Corp's (SWHC.O) quarterly profit more than doubled and topped estimates, but said it expects order backlogs to fall in the first quarter, sending its shares down 5 percent in Monday after-market trade.

Smith & Wesson said background check data from the FBI -- one of the data points by which the company monitors consumer purchasing trends -- show a 15 percent growth for May, down from the 30 percent rise they showed in April.

Chief Executive Mike Golden said, "Our backlog always represents product that has been ordered but not yet shipped. Therefore, it is possible that portions of this backlog could be cancelled if demand should suddenly drop."

In a conference call with analysts, the 157-year old company also said it sees first-quarter revenue to come in between $92 million and $94 million, while analysts, on average, were expecting revenue of $92.48 million.