SPRINGFIELD, Mass.,
Jan. 15, 2019 /PRNewswire/
-- American Outdoor Brands Corporation (NASDAQ Global
Select: AOBC), one of the world's leading providers of firearms and
quality products for the shooting, hunting, and rugged outdoor
enthusiast, today announced that its Electro-Optics Division,
Crimson Trace Corp., has completed the purchase of
substantially all of the assets of LaserLyte, a provider of laser
training and sighting products for the consumer market.
Lane Tobiassen, President of the
Electro-Optics Division and Crimson Trace Corp., said, "We are
excited to add the LaserLyte brand and product lines to our
existing lineup of Crimson Trace laser sights, tactical lights, and
optics. LaserLyte is well-known among consumers for its
innovative laser training and sighting products, which cover a
range of applications including non-live fire firearms training,
sighting in rifle scopes and optics, and entertainment.
LaserLyte's firearm training systems, laser sights and bore sights
complement our existing offering, enabling us to reach broader
segments of the consumer electro-optics addressable market.
LaserLyte products fit well within our existing distribution
network, and with the support of our product development and
sourcing teams, we believe the additional brand and product lines
provide us with growth and expansion opportunities for the
Electro-Optics Division."
Crimson Trace completed the acquisition of LaserLyte assets,
consisting largely of inventory and intellectual property,
utilizing cash on hand. Inventory related to the acquisition
will be transferred to the Crimson Trace facility in Wilsonville, Oregon, where LaserLyte
operations will be assumed by existing product development,
sourcing, assembly, and sales and marketing teams.
About American Outdoor Brands Corporation
American
Outdoor Brands Corporation (NASDAQ Global Select: AOBC) is a
provider of quality products for shooting, hunting, and rugged
outdoor enthusiasts in the global consumer and professional
markets. The company reports two segments: Firearms and
Outdoor Products & Accessories. Firearms manufactures
handgun and long gun products sold under the Smith & Wesson®,
M&P®, and Thompson/Center Arms™, and Gemtech® brands as well as
provides forging, machining, and precision plastic injection
molding services. Outdoor Products & Accessories provides
shooting, hunting, and outdoor accessories, including reloading,
gunsmithing, and gun cleaning supplies, tree saws, vault
accessories, knives, laser sighting systems, tactical lighting
products, and survival and camping equipment. Brands in
Outdoor Products & Accessories include Smith & Wesson®,
M&P®, Thompson/Center Arms™, Crimson Trace®, Caldwell® Shooting
Supplies, Wheeler® Engineering, Tipton® Gun Cleaning Supplies,
Frankford Arsenal® Reloading Tools, Lockdown® Vault Accessories,
Hooyman® Premium Tree Saws, BOG POD®, Golden Rod® Moisture Control,
Schrade®, Old Timer®, Uncle Henry®, UST™, and Imperial™. For
more information on American Outdoor Brands Corporation, call (844)
363-5386 or log on to www.aob.com.
About Crimson Trace Corporation
Based in Oregon, Crimson Trace Corporation offers laser
sights, tactical lights, red dot sights, and riflescopes focused on
the tactical, long range, hunting, and self-defense customer. The
company's riflescopes and red dot sights are engineered to meet the
needs of professional users and recreational firearms and outdoor
enthusiasts and incorporate numerous performance features including
proprietary illuminated reticle designs. The company's industry
leading laser sight innovations include: Lasergrips® laser sights,
Laserguard® laser sights, LiNQ® wireless operated laser and light
systems, and Lightguard® lights for firearms, each with Instinctive
ActivationTM firearm laser activation technology. Additional
product lines include tactical lights and Defender SeriesTM and
Rail Master® firearms accessories. Full details are available at
www.crimsontrace.com or by calling 800-442-2406.
Safe Harbor Statement
Certain statements contained in
this press release may be deemed to be forward-looking statements
under federal securities laws, and we intend that such
forward-looking statements be subject to the safe-harbor created
thereby. Such forward-looking statements include the
opportunities for growth and expansion for our opto-electronics
division; our belief that LaserLyte's firearm training systems,
laser sights and bore sights complement our existing offering of
lasers and optics under the Crimson Trace Brand; and our belief
that that additional LaserLyte product lines will provide us with
growth and expansion opportunities for our Electro-Optics Division.
We caution that these statements are qualified by important factors
that could cause actual results to differ materially from those
reflected by such forward-looking statements. Such factors
include the demand for our products; the state of the U.S. economy
in general and our industry in particular; general economic
conditions and consumer spending patterns; the potential for
increased regulation of firearms and firearm-related products;
speculation surrounding fears of terrorism and crime; our ability
to increase demand for our products in various markets; our
penetration rates in new and existing markets; our strategies; our
ability to introduce new products; the success of new products; our
ability to expand our markets; our ability to integrate acquired
businesses in a successful manner; the general growth of our
firearm accessories business; the potential for cancellation of
orders from our backlog; and other risks detailed from time to time
in our reports filed with the SEC, including our Annual Report on
Form 10-K for the fiscal year ended April
30, 2018.
Contact: Liz Sharp, VP Investor Relations
American Outdoor Brands Corporation
(413) 747-6284
lsharp@aob.com
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SOURCE American Outdoor Brands Corporation