AMMO Sets New Company Record in Orders Shipped While Recording an Increased $180 Million Backlog of Booked Orders for the Fiscal Third Quarter
SCOTTSDALE, Ariz., February 4, 2021 — AMMO, Inc. (Nasdaq: POWW ) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, has reported a 256% year-over-year increase in orders shipped, as it works around the clock to fulfill booked orders which have now increased to a record setting $180 million as of February 1, 2021.
“We continue to strategically and effectively increase our order intake, manufacturing and shipping capacity in an effort to address the continuing escalating demand being received across all channels, as our record backlog continues to grow,” said Fred Wagenhals, AMMO’s Chairman and CEO. “We are now seeing global demand for loaded ammunition and components increase, and we continue to add new key retail distribution customers such as BIG 5 and Midsouth Shooters Supply and others. We see strong demand through all of 2021 and continue into 2022 for the US Commercial Market,” said Mr. Wagenhals.
AMMO will address its record-breaking revenue results and industry outlook during the Company’s February 16th earnings call.
About AMMO, Inc.
With its corporate offices headquartered in Scottsdale, Arizona. AMMO, Inc. (the “Company and/or 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.
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Rob Wiley, CFO
Phone: (480) 947-0001