AMMO, Inc. Raises Fiscal 2Q Revenue Estimate to $55 Million
SCOTTSDALE, AZ, September 27, 2021 (GLOBE NEWSWIRE) — AMMO, Inc. (Nasdaq: POWW & POWWP) (“AMMO” or the “Company”), a leading vertically integrated producer of high-performance ammunition and components and operator of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, today announced it is increasing its prior fiscal second quarter $51 million revenue estimate to approximately $55 million for the period ending September 30, 2021.
“The increase in our second fiscal quarter revenue estimate reflects continued momentum across our entire business,” said Fred Wagenhals, AMMO, Inc.’s Chairman and CEO. “Transaction activity at our leading marketplace platform, GunBroker.com, remains more robust, even when compared to last year’s record setting performance. We are also in the midst of implementing several key initiatives to accelerate the marketplace’s growth, including engaging with manufacturers, distributors and importers to expand the marketplace offerings, while also expanding GunBroker.com’s customer service team with 11 new hires and more to follow.”
Mr. Wagenhals further noted that “the growth in our core ammunition business continues to be driven by strong underlying demand for our unique, high-performance products, coupled with ongoing efforts to increase capacity. Since consolidating all manufacturing operations this past April in our Manitowoc, Wisconsin plant, we have doubled our priming and loading capacity, and increased our brass manufacturing capacity by approximately 15%. And there are more production enhancements planned for operational deployment shortly. Finally, our team continues their work to bring our new world-class plant online and fully operational without production down-time in the Summer of 2022, on schedule and within budget.”
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 and law enforcement use. For more information, please visit: www.ammo-inc.com.
About GunBroker.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
This document 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 or 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 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 Current Reports filed on Form 8-K.
Investor Contact:
Reed Anderson
ICR
Phone: (646) 277-1260
IR@ammo-inc.com
