AMMO, Inc. Provides 3rd Quarter Fiscal Year 2021 Guidance Reflecting a Year-Over-Year 435% Revenue Increase
SCOTTSDALE, AZ, Nov. 12, 2020 (GLOBE NEWSWIRE) — AMMO, Inc. (OTCQB: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is pleased to provide guidance for its 3rd quarter for the 2021 Fiscal Year.
The Company has updated its guidance for the 3rd quarter of fiscal year 2021 to approximately $15.0 million in revenue. AMMO’s 3rd quarter guidance represents an estimated 435% year-over-year increase compared to $2.8 million in revenue for the third quarter of fiscal 2020 and a 25% increase in revenue when compared to $12 million in the 2nd quarter of fiscal 2021.
“Our team continues to work diligently to meet existing domestic consumer demand as export opportunities start to open up again in the post-COVID international market. These efforts have kept us on track to increase our positive adjusted EBITDA in the fiscal 3rd quarter as we maintain our focus on driving sales for our higher margin product offerings,” said Fred Wagenhals, AMMO’s CEO.
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 its company branded munitions, its patented STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, and O.W.L. Technologies®. 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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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, CFO
AMMO, Inc.
Phone: (480) 947-0001
IR@ammo-inc.com