AMMO, Inc. Reports Preliminary Fiscal Second Quarter 2021 Results
- Fiscal Second Quarter 2021 Revenue Expected to Increase 306% Year-Over-Year to Approximately $12.0 Million -
- Fiscal Year 2021 Revenue Guidance Increases to $50 Million -
SCOTTSDALE, Ariz., Oct. 05, 2020 (GLOBE NEWSWIRE) -- AMMO, Inc. (OTCQB: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is providing selected preliminary unaudited results for its fiscal second quarter ended September 30, 2020.
Based on preliminary unaudited information, AMMO expects to report approximately $12.0 million in revenue for the second quarter of fiscal 2021, which is a 306% year-over-year increase compared to $3.0 million in the second quarter of fiscal 2020 and a 24% sequential increase compared to $9.7 million in the first quarter of fiscal 2021.
“During the fiscal second quarter, we continued to expand our production capabilities in a robust commercial demand environment,” said Fred Wagenhals, AMMO’s chairman and CEO. “We have booked a record number of orders across our commercial, export, military and law enforcement channels, and our manufacturing facilities are operating at near-full capacity. Given the sustained strength of consumer demand for ammunition and the significant amount of booked orders we have received, we are increasing our fiscal year 2021 revenue guidance from approximately $42 million to approximately $50 million. We also remain on track to achieve positive adjusted EBITDA in the fiscal second quarter as we maintain our focus on prudent cost management while driving sales for our higher margin product offerings.”
AMMO expects to report its second quarter fiscal 2021 results in November 2020.
About AMMO, Inc.
AMMO was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. The Company designs and manufactures products for a variety of markets, including law enforcement, military, hunting, sport shooting and self-defense. AMMO promotes branded munitions, including its patented STREAK Visual Ammunition, /stelTH/ subsonic munitions, O.W.L. Technologies, and Night OPS (One Precise Shot) – a lead-free frangible tactical line of munitions for self-defense. The Company’s corporate offices are headquartered in Scottsdale, Arizona. Manufacturing operations are based in both northern Arizona and Manitowoc, Wisconsin. For more information please visit: www.ammoinc.com.
Forward Looking Statements
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