AMMO, Inc. Updates Guidance for Fiscal Year 2021 to $55 million Reflecting Projected 272% Year Over Year Revenue Growth
SCOTTSDALE, AZ, November 18, 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 revenue guidance in the amount of $55 million for its 2021 Fiscal Year, representing year-over-year projected growth of 272%.
“We are pleased to provide updated revenue guidance for the Company’s fiscal year 2021. AMMO anticipates domestic commercial demand to remain robust through the upcoming year, with military, law enforcement and export orders serving as additional growth drivers in the near future as COVID-19 begins to ease. Given this significant demand, we are increasing our revenue guidance in fiscal 2021 to approximately $55 million, which represents a year-over-year revenue growth rate of 272%,” reported AMMO’s CEO, Fred Wagenhals.
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.
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Rob Wiley, CFO
Phone: (480) 947-0001