AMMO, Inc. Updates First Quarter Fiscal Year 2022 Revenue Forecast to $44 Million – First Quarter Reporting Scheduled for August 16, 2021
SCOTTSDALE, AZ, July 8, 2021 — AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is updating quarterly revenue to $44 million for its 1st Quarter of the 2022 Fiscal Year (period ending June 30, 2021), generating its first profitable quarter in the Company’s short history.
“AMMO anticipates reporting $44 million in revenue for the first quarter of the Company’s 2022 fiscal year on or before August 16, 2021. We also plan to report our first positive net income quarter,” noted Fred Wagenhals, AMMO’s Chairman & CEO. Mr. Wagenhals continued, commenting that “the Company’s growth trajectory is a testament to the hard work of our dedicated team of professionals working in Wisconsin, Georgia and Arizona. As a result, we are poised to report a 354% year-over-year revenue increase with the anticipated reporting of $44 million in revenue for the first quarter.” “ We are excited about the impact of consolidating our manufacturing operations in Wisconsin and look forward to providing financial reporting to the market through the balance of our fiscal year as we continue to integrate the GunBroker.com platform into the AMMO family. And our manufacturing team will continue their tireless work to ensure we exceed production expectations needed to address the continuing high consumer demand for our products,” concluded Fred Wagenhals.
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.
GunBroker.com is the largest online marketplace dedicated to firearms, hunting, shooting and related products. Aside from merchandise bearing its logo, GunBroker.com currently sells none of the items listed on its website. Third-party sellers list items on the site and Federal and state laws govern the sale of firearms and other restricted items. Ownership policies and regulations are followed using licensed firearms dealers as transfer agents. Launched in 1999, GunBroker.com is an informative, secure and safe way to buy and sell firearms, ammunition, air guns, archery equipment, knives and swords, firearms accessories and hunting/shooting gear online. GunBroker.com promotes responsible ownership of guns and firearms. For more information, please visit: www.gunbroker.com.
Forward Looking Statements
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Rob Wiley, CFO
Phone: (480) 947-0001