AMMO, Inc.’s Provides Fiscal First Quarter 2020 Update on Recent Business Progress |
Monday, 22. July 2019 15:00 | ||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Fiscal First Quarter 2020, ended June 30, 2019, Preliminary Revenues of $4.3 Million Expects Revenue of at Least $6.5 Million for the Fiscal Second Quarter, Representing Sequential Growth of More Than 50% Company Anticipates Achieving Positive Cash Flow in the Second Half of Calendar 2019 SCOTTSDALE, AZ, July 22, 2019 (GLOBE NEWSWIRE) -- AMMO, Inc. (OTCQB: POWW) (“AMMO”), a technology leader and premier American ammunitions manufacturer, today provided a business update in conjunction with the preannouncement of its fiscal first quarter sales, ended June 30, 2019. Preliminary Financial Highlights for Fiscal First Quarter, ended June 30, 2019
Fred Wagenhals, CEO of AMMO, Inc. commented, “Fiscal first quarter was pivotal for AMMO on a variety of fronts, but most notably was the integration of our recent acquisition, JMC, into our business. Our manufacturing footprint is now aligned and optimized to meet the growing needs of customers demanding difficult to source brass components, as well as our innovative line of projectiles that address a variety of unmet needs in the marketplace. We are pleased with the performance in the fiscal first quarter, and believe our growth will accelerate as the year progresses following the greater distribution we’ve achieved in our commercial division and growing traction within our global tactical defense division that will become visible in the current fiscal second quarter. We continue to forecast a path toward positive cash flow in the second half of calendar 2019 based upon our growing sales pipeline and are pushing forward in our pursuit of an uplisting to a major national exchange.” Business Highlights & Outlook
About AMMO, Inc. AMMO, Inc. designs and manufactures products for a variety of markets, including law enforcement, military, hunting, 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, including its patented STREAK™ Visual Ammunition, the Jesse James line of munitions and accessories, /stelTH/ subsonic munitions, O.W.L. Technologies®, TAC-PTM Tactical Precision defense munitions, and OPS (One Precise Shot) a lead-free frangible tactical line of munitions for self-defense. 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 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 Reports filed on Form 8-K. In our filings with the Securities and Exchange Commission, references to “AMMO, Inc.”, “AMMO”, “the Company”, “we,” “us,” “our” and similar terms refer to AMMO, Inc. and its wholly owned operating subsidiaries The Enlight Group (d/b/a Jagemann Munition Components), SNI, LLC and Ammo Technologies, Inc.” Investor Contact: Media Contact:
|
||||||||||||||||||||||||||||||||||||
Related Links: | ||||||||||||||||||||||||||||||||||||
Author: Copyright GlobeNewswire, Inc. 2016. All rights reserved. You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account. |