Business
AMMO, Inc. Reports Financial Results for its Fiscal Fourth Quarter and Full Fiscal Year
- Annual Adjusted EBITDA of $8.1 million and Adjusted EPS of $0.07 per share - SCOTTSDALE, Ariz., June 29, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW,
About this update from Outdoor Holding Company
[{"type":"text","content":" - Annual Adjusted EBITDA of $8.1 million and Adjusted EPS of $0.07 per share - SCOTTSDALE, Ariz., June 29, 2021 (GLOBE NEWSWIRE) -- AMMO, Inc. (Nasdaq: POWW, POWWP) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, is pleased to announce it has reported financial results for its fiscal fourth quarter and year ending March 31, 2021. Financial Summary for Fiscal Fourth Quarter 2021 vs. Fiscal Fourth Quarter 2020 Sales for the quarter were $24.2 million – an increase of 409%Gross Profit Margins increased to approximately 23% - an increase of 179%Operating expenses as a percentage of sales decreased 58%Adjusted EBITDA increased to $4.8 million -- an increase of 296%Adjusted EPS increased to $0.04 – an increase of 167% Financial Summary for Fiscal 2021 vs. Fiscal 2020 Sales for the year increased to $62.5 million – an increase of 300%Gross Profit Margins increased to approximately 18% -- an increase of 173%Operating expenses as a percentage of sales decreased 61%Annual adjusted EBITDA increased to $8.1 million – an increase of 213%Adjusted EPS Increased to $0.07 -- an increase of 150% AMMO is positioned for exceptional growth in Fiscal 2022 after establishing a new standard for the Company. Demand fundamentals in the US domestic ammunition market are exceedingly strong and we are seeing no indication of slowing. The Company broke ground on its new state-of-the-art plant, scheduled to be fully operational in approximately one year. And we have established the Company as a cutting-edge design firm, announcing a contract for the design and manufacture of technologically advanced ballistic match ammunition for the US Department of Defense. Our fiscal fourth quarter delivered the best quarterly performance in Company history, with even better quarters reasonably expected to follow throughout Fiscal 2022. Additionally, the Company experienced sales growth of 46% quarter-over-quarter, a $7.6 million increase. The Company’s margins have also increased to approximately 23% for our fourth fiscal quarter, an increase of 179% or $7.1 million year-over-year. When depreciation and amortization are added back to the cost of goods sold, our gross profit margin increases to 27% for the quarter. Our operating expenses as a percentage of sales was 25%, representing a 58% decrease from ...