AMMO Inc., an Airpark-based ammunition and munition components manufacturer and technology leader, is providing selected preliminary unaudited results for its fourth quarter and fiscal year ended March 31.
Based on preliminary unaudited information, AMMO expects to report approximately $4.5 million in revenue for the fourth quarter of fiscal 2020, which is a 230% increase compared to $1.4 million in the fourth quarter of fiscal 2019 and a 62% sequential increase from third quarter of fiscal 2020. Revenue for the month of March was approximately $2.9 million, which represents 65% of total revenue for the entire quarter. Revenue generated in the month of March 2020 was 6% higher than the total revenue for the entire third quarter of fiscal 2020.
For fiscal year 2020, AMMO’s revenue increased 218% to approximately $14.5 million compared to $4.6 million in fiscal 2019. Importantly, finished-goods inventory decreased by approximately 50% sequentially from the third quarter of fiscal 2020.
“Fiscal 2020 proved to be an important year strategically for AMMO, as we significantly grew our presence in the commercial market, continued to expand our military and law enforcement channel, and bolstered our manufacturing and production capabilities,” says Fred Wagenhals, CEO of AMMO.
AMMO expects to report its full fourth quarter and fiscal year 2020 financial results in June.