AMMO, Inc. Increases Guidance for Fiscal Year 2021 From $58 Million to $62 Million, Reflecting a Projected 319% Year-Over-Yea...
April 01 2021 - 8:30AM
AMMO, Inc. (Nasdaq: POWW) (“AMMO” or the “Company”), a premier
American ammunition and munition components manufacturer and
technology leader, is pleased to be increasing its 2021 Fiscal Year
revenue guidance to $62 million, representing year-over-year
projected revenue growth of 319%.
Comparison for Fiscal Fourth Quarter 2021 vs. Fiscal
Fourth Quarter 2020
- Revenue guidance for the quarter increases from $20 million to
$24 million – a 400% increase in comparison to the $4.8
million for the Fiscal 2020 quarter.
Comparison for Fiscal Year End 2021 vs. Fiscal Year End
2020
- Revenue guidance for the fiscal year 2021 increases to $62
million – a 319% increase in comparison to the $14.8 million
for fiscal year end 2020.
Guidance for Fiscal Year End 2022
- Revenue guidance for the fiscal
year 2022 is $120 million as a standalone company – a
94% increase in comparison to the $62 million for fiscal year
end 2021.
“We are pleased to provide updated revenue
guidance for the Company’s fiscal year 2021. The fourth quarter was
our strongest quarter ever, with $24 million in revenue guidance,
representing an increase of 400% year-over-year. AMMO anticipates
domestic commercial demand to remain robust through the upcoming
year, with anticipated military, import and export orders serving
as additional growth drivers. Given this significant demand, we are
increasing our revenue guidance in fiscal 2021 to approximately $62
million, which represents a year-over-year revenue growth rate of
319%,” reported AMMO’s CEO, Fred Wagenhals. He went on to say that
“our revenue guidance as a standalone company is $120 million for
our fiscal year ended March 31, 2022. We will be updating guidance
as the previously announced Gunbroker.com transaction comes into
focus such that it has an impact on our first quarter results.”
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.
Forward Looking Statements
This press release 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 of 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 the statements. Accordingly,
investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the dates on
which they are made. Such forward-looking statements are based on
our current beliefs and expectations, which we believe are
reasonable. However, forward-looking statements are subject to
significant known and unknown risks and uncertainties that may
cause actual results, performance or achievements in future periods
to differ materially from those assumed, projected or contemplated
in the forward-looking statements. 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
our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports filed on Form 8-K.
Investor Contact:Rob Wiley,
CFOAMMO, Inc.Phone: (480) 947-0001IR@ammo-inc.com
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