AMMO, Inc. Updates First Quarter Fiscal Year 2022 Revenue Forecast to $41 Million, Projecting First Profitable Quarter (endin...
May 20 2021 - 8:30AM
AMMO, Inc. (Nasdaq: POWW) (“AMMO” or the “Company”), a premier
American ammunition and munition components manufacturer and
technology leader, is updating quarterly revenue to $41 million for
its 1st Quarter of the 2022 Fiscal Year ending June 30, 2021,
generating its first profitable quarter in the Company’s short
history.
“We are pleased to start off our 2022 Fiscal
Year with continuing strong revenue growth and operational scale,
generating our first profitable quarter in the life of our young
Company,” said Fred Wagenhals, AMMO’s Chairman & CEO. Mr.
Wagenhals further noted that, “we continue to build on our progress
with our company-wide efforts to supply our customers with our
premier products. The refinement and expansion of our ammunition
product offerings, coupled with our team’s strategic capacity
increase initiatives, continue to bolster AMMO’s ability to address
historical market demand, driving revenue as we strive to increase
shareholder value. By also enhancing and leveraging the
best-in-class GunBroker.com platform with new product offerings and
sales initiatives, we reasonable expect to obtain additional
accretive revenue and profit growth while receiving the benefits
associated with diversified sales channels.”
The Company will be reporting its Fiscal 2021
results on or before June 29th. The Company will provide an update
on the scheduling of the associated conference call shortly.
About AMMO, Inc.
With its corporate offices headquartered in
Scottsdale, Arizona. AMMO designs and manufactures products for a
variety of aptitudes, including law enforcement, military, sport
shooting and self-defense. The Company was founded in 2016 with a
vision to change, innovate and invigorate the complacent munitions
industry. AMMO promotes branded munitions as well as its patented
STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, and armor
piercing rounds for military use. For more information, please
visit: www.ammo-inc.com.
About GunBroker.com
GunBroker.com is the largest online marketplace
dedicated to firearms, hunting, shooting and related products.
Aside from merchandise bearing its logo, GunBroker.com currently
sells none of the items listed on its website. Third-party sellers
list items on the site and Federal and state laws govern the sale
of firearms and other restricted items. Ownership policies and
regulations are followed using licensed firearms dealers as
transfer agents. Launched in 1999, GunBroker.com is an informative,
secure and safe way to buy and sell firearms, ammunition, air guns,
archery equipment, knives and swords, firearms accessories and
hunting/shooting gear online. GunBroker.com promotes responsible
ownership of guns and firearms. For more information, please visit:
www.gunbroker.com.
Forward Looking Statements
This document contains certain “forward-looking
statements”. All statements other than statements of historical
fact are “forward-looking statements” for purposes of federal and
state securities laws, including, but not limited to, any
projections of earnings, revenue or other financial items; any
statements of the plans, strategies, goals and objectives of
management for future operations; any statements concerning
proposed new products and services or developments thereof; any
statements regarding future economic conditions or performance; any
statements or belief; and any statements of assumptions underlying
any of the foregoing.
Forward looking statements may include the words
“may,” “could,” “estimate,” “intend,” “continue,” “believe,”
“expect” or “anticipate” or other similar words, or the negative
thereof. These forward-looking statements present our estimates and
assumptions only as of the date of this report. Accordingly,
readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the dates on
which they are made. We do not undertake to update forward-looking
statements to reflect the impact of circumstances or events that
arise after the dates they are made. You should, however, consult
further disclosures and risk factors we include in Annual Reports
on Form 10-K, Quarterly Reports on Form 10-Q, and Reports filed on
Form 8-K.
Investor Contact:Rob Wiley,
CFOAMMO, Inc.Phone: (480) 947-0001IR@ammo-inc.com
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