AMMO, Inc. Raises Fiscal 2Q Revenue Estimate to $55 Million
September 27 2021 - 8:30AM
AMMO, Inc. (Nasdaq: POWW & POWWP) (“AMMO” or the “Company”), a
leading vertically integrated producer of high-performance
ammunition and components and operator of GunBroker.com, the
largest online marketplace serving the firearms and shooting sports
industries, today announced it is increasing its prior fiscal
second quarter $51 million revenue estimate to approximately $55
million for the period ending September 30, 2021.
“The increase in our second fiscal quarter
revenue estimate reflects continued momentum across our entire
business,” said Fred Wagenhals, AMMO, Inc.’s Chairman and CEO.
“Transaction activity at our leading marketplace platform,
GunBroker.com, remains more robust, even when compared to last
year’s record setting performance. We are also in the midst of
implementing several key initiatives to accelerate the
marketplace’s growth, including engaging with manufacturers,
distributors and importers to expand the marketplace offerings,
while also expanding GunBroker.com’s customer service team with 11
new hires and more to follow.”
Mr. Wagenhals further noted that “the growth in
our core ammunition business continues to be driven by strong
underlying demand for our unique, high-performance products,
coupled with ongoing efforts to increase capacity. Since
consolidating all manufacturing operations this past April in our
Manitowoc, Wisconsin plant, we have doubled our priming and loading
capacity, and increased our brass manufacturing capacity by
approximately 15%. And there are more production enhancements
planned for operational deployment shortly. Finally, our team
continues their work to bring our new world-class plant online and
fully operational without production down-time in the Summer of
2022, on schedule and within budget.”
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 and law enforcement 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 Current Reports
filed on Form 8-K.
Investor Contact:Reed AndersonICRPhone: (646)
277-1260IR@ammo-inc.com
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