American Outdoor Brands Releases Q2 2021 Fiscal Results

From American Outdoor Brands

American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), an industry leading provider of products and accessories for rugged outdoor enthusiasts, today announced financial results for the second quarter fiscal 2021, ended October 31, 2020.

Second Quarter Fiscal 2021 Financial Highlights

• Quarterly net sales were $79.1 million, an increase of $31.4 million, or 65.7%, over net sales of $47.7 million for the comparable quarter last year, driven primarily by increases in both e-commerce and traditional sales channels.

• Quarterly gross margin was 46.9%, an increase of 690 basis points, over gross margin of 40.0% for the comparable quarter last year.

• Quarterly net income was $7.3 million, or $0.52 per diluted share, compared with a net loss of $393,000, or ($0.03) per diluted share, for the comparable quarter last year.

• Quarterly non-GAAP net income was $11.0 million, or $0.77 per diluted share, compared with a non-GAAP net income of $2.8 million, or $0.20 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for net income exclude costs related to acquired intangible amortization, stock compensation, transition costs, COVID-19 expenses, and other costs.

• Quarterly Adjusted EBITDAS was $15.8 million, or 19.9% of net sales, compared with $5.6 million, or 11.7% of net sales, for the comparable quarter last year.

Brian Murphy, President and CEO, said, “We believe our second quarter financial performance demonstrates the diversity and innovation of our brand portfolio as it continues to capture the attention of consumers. As a result, we delivered net sales growth of over 65%, and gross margins expanded by 690 basis points to nearly 47% in the quarter. We believe we’re witnessing a new foundational level of consumer participation in outdoor activities, an interest towards personal protection, and an interest in adjacent home-based hobbies that surround outdoor adventure, creating meaningful, long-term growth potential for our business well beyond 2020. Continued entry into new, larger addressable markets through our ‘Dock & UnlockTM’ strategy has begun to bear fruit as our brands progress along their transition from ‘Niche to KnownTM’.”

Murphy added, “I want to especially thank our employees, who helped us deliver what we consider to be outstanding results this quarter while positioning us for a tremendous first year as a public company. Their efforts, combined with our award-winning products, made it possible for customers to continue exploring their connection with the outdoors during these challenging times.”

Andrew Fulmer, Chief Financial Officer, said, “We ended the quarter with cash of $33.9 million and no borrowings on our $50.0 million senior secured credit facility, which is expandable by an additional $15.0 million under certain conditions. This means that we now have up to nearly $100.0 million in available capital to support organic growth and potential future acquisitions. We believe our Adjusted EBITDAS margin of nearly 20% in the quarter demonstrates that we have designed and built a highly leverage-able platform, made possible by earlier investments in our e-commerce and logistics capabilities. These capabilities, combined with customer order activity, which remained strong in the quarter, have allowed us to increase our outlook for the balance of fiscal 2021.

Legacy Sports International Donates to Support NSSF

Legacy Sports International Donates to Support NSSF

From Legacy Sports International

“We are proud to support the NSSF in its vital efforts in stewardship across the Firearms Industry. With the SHOT Show 2021 being cancelled, we felt compelled to support such a crucial part of our industry as a whole,” said Rick Hanke CEO / President of Legacy Sports International. We are glad to offer a donation of $10,000 to the National Shooting Sports Foundation ( NSSF ) in effort to assist with their fundraising challenges.

Legacy Sports as a whole offers a broad selection of popular firearm brands serving the firearms industry’s distribution channels across the USA with HOWA Rifles, CITADEL 1911’s, Shotguns and rifles, POINTER Shotguns, and NIKKO STIRLING optics.

NSSF is the trade association for the firearm industry. Its mission is to promote, protect and preserve hunting and the shooting sports. Formed in 1961, NSSF has a membership of thousands of manufacturers, distributors, firearms retailers, shooting ranges, sportsmen’s organizations and publishers nationwide. For more information, log on to www.nssf.org.

For more information on all of the LSI product line or to request a FREE 2021 catalog please call 775 828 0555 or visit: www.legacysports.com

Springfield PD Upgrades to Smith & Wesson M&P M2.0 Duty Pistols

Springfield PD Upgrades to Smith & Wesson M&P M2.0 Duty Pistols

From Smith & Wesson

Smith & Wesson Inc. announced this week that the city of Springfield, Massachusetts has transitioned to the Smith & Wesson M&P M2.0 as its official duty pistol. Previously, the Springfield Police Department’s primary duty pistol was Smith & Wesson’s M&P40 pistol. Smith & Wesson will be providing over 600 pistols as part of this upgrade, including four engraved pistols for Springfield Police Department’s Command Staff. Smith & Wesson presented the Springfield Police Department with their engraved pistols during a recent ceremony at Smith & Wesson’s headquarters in Springfield, Massachusetts.

“The new M&P M2.0, with its aggressive texturing and tactile trigger reset, provides law enforcement with the ultimate in reliability and dependability. This upgrade to the M&P M2.0 should carry the Springfield Police Department through many years of service. Most importantly, we’re proud that our pistols are called on to protect law enforcement in Smith & Wesson’s hometown of Springfield, Massachusetts,” said Matthew Fehmel, Senior Director of Global Professional & International Sales for Smith & Wesson.

“We’re very appreciative of the entire team at Smith & Wesson. They have the best and safest products on the market. Their company being based in our city and many of their employees living in Springfield has led to a long-term partnership that our officers take pride in,” said Springfield Police Commissioner Cheryl Clapprood.

The M&P M2.0 comes with four interchangeable palmswell inserts and a light, crisp M2.0 trigger with a tactile and audible reset. The pistol features a molded polymer frame designed for comfort and durability, as well as the optimal M&P pistol 18-degree grip angle for a natural point of aim. Chambered in 9mm, .40 S&W, and .45 Auto, the M&P M2.0 pistol is available in full size, compact, and subcompact variants.

Kestrel Ballistics Parent Company Acquires Magnetospeed

Kestrel Ballistics Parent Company Acquires Magnetospeed

From Nielsen-Kellerman

Nielsen-Kellerman, Inc. (NK) announces the acquisition of the assets of MagnetoSpeed, LLC, leading designer and manufacturer of high quality, durable shooting accessories for the competition, hunting, recreational and military markets. MagnetoSpeed joins Kestrel Ballistics as part of the Ballistics Division, adding to the list of rugged, reliable offerings for civilian and military markets.

“The MagnetoSpeed acquisition is a win for our companies, our customers, and the shooting community as a whole. The MagnetoSpeed brand is known for accuracy, durability, and innovation. This aligns with our commitment to producing extremely accurate, rugged, purpose-built ballistics tools for improving long-range precision and shooting performance.”

“The move not only expands product category offerings and new product development opportunities, it also supports NK’s commitment to expanding its offerings to the shooting, hunting, and outdoor users,” said Alix James, CEO of Nielsen-Kellerman. “In the long run we see exciting opportunities to improve the function of the chronograph line by connecting the chronographs directly to Kestrel Ballistics Weather Meters with Kestrel LiNK. The MagnetoSpeed founders are brilliant engineers and we are grateful for the opportunity to build upon their design innovations.”

The MagnetoSpeed team adds, “Ten years ago, three young engineers from Texas began work on a new kind of chronograph. It began with a crude prototype, but with the support of the shooting community, we were able to bootstrap those humble beginnings into a successful company that provides modern marksmen all over the world with valuable tools. We see a great opportunity with Kestrel’s Ballistic division to take our products to the next level and to develop amazing new ones. Thank you all for the support over the years as we couldn’t have done any of this without you.”

MagnetoSpeed has been manufacturing rugged chronographs, target hit indicators, and barrel coolers since 2013. Their signature V3 and Sporter barrel-mounted ballistic chronographs use patented electromagnetic sensors to measure bullet velocity with extreme precision and reliability. Other well-known products include the T1000 Hit Indicator, and the Riflekühl chamber flag + barrel cooler. MagnetoSpeed’s line of shooting accessories are manufactured in the USA and built tough to work in all kinds of weather conditions and operate in the harsh environment at the muzzle of firearms. Military, law enforcement, top competitive shooters, and recreational shooters all over the world rely on MagnetoSpeed products for accuracy in long-range shooting.

 

 

SIG SAUER Electro-Optics SIERRA6BDX Riflescope Now Shipping

SIG SAUER Electro-Optics SIERRA6BDX Riflescope Now Shipping

From SIG SAUER

SIG SAUER Electro-Optics is pleased to announce the SIERRA6BDX super zoom riflescope line to the Ballistic Data Xchange (BDX) family of products is now shipping. Designed by hunters for hunters the SIERRA6BDX riflescopes brings the advanced and streamlined features of BDX 2.0 to a premium super zoom HDX optic.

The SIG SAUER Electro-Optics BDX System combines traditional hunting equipment with technology. BDX 2.0 takes all of the advanced Applied Ballistics Ultralight and Bluetooth™ technology and adds simplified, and easy to use, functionality to get hunters and shooters on target with unprecedented speed and accuracy. New features of BDX 2.0 include nine pre-loaded, user-selectable Ballistic Drop Compensation (BDC) reticles in all SIERRA Riflescopes, eight ballistic groups pre-loaded in KILO BDX rangefinders and the QuickBOND™ feature that quickly bonds BDX rangefinders and scopes together as a ballistic system. The BDX 2.0 System is simple, fast, and intuitive – Just Connect The Dot.™

The SIG SAUER Electro-Optics SIERRA6BDX family of riflescopes is available in 5-30×56, 3-18×44, and 2-12×40 magnifications with a SmartBDC reticle with up to 95% light transmission, the advanced HDX 6x optical system for ultra-high resolution, optical performance, and light transmission, an automatic holdover dot on a digital focal plane, the innovative KinETHIC™ Kinetic Energy Transfer Indicator for ethical shots, and LevelPlex™ that calibrates level sensitivity to distance ranged to target. Blue LED indicator light on the riflescope indicates when your equipment is paired and flashes as your reticle is updated with new ballistic hold information.

SIERRA6BDX 2-12x40mm Specs:

Weight: 21.4oz

Adjustment Increments: 0.25MOA

Maintube Diameter: 30mm

Field of View: 52.5’ at 100 yards

Reticle: BDX-R2 Digital Ballistic Reticle w/194 LEDs

Waterproof: IPX-7

Battery: (2) CR2032

SKU: SOSBDX62111

MSRP: $1169.99

SIERRA6BDX 3-18x44mm Specs:

Weight: 23.8oz.

Adjustment Increments: 0.25MOA

Maintube Diameter: 30mm

Field of View: 34.9’’ at 100 Yards

Reticle: BDX-R2 Digital Ballistic Reticle w/194 LEDs

Eye Relief: 3.7in.

Waterproof: IPX-7

Battery: (2) CR2032

SKU: SOSBDX63111

MSRP: $1,299.99

SIERRA6BDX 5-30x56mm Specs:

Weight: 30.4oz.

Adjustment Increments: 0.25MOA

Maintube Diameter: 34mm

Field of View: 21’ at 100 Yards

Reticle: BDX-R2 Digital Ballistic Reticle w/194 LEDs

Eye Relief: 3.7in.

Waterproof: IPX-7

Battery: (2) CR2032

SKU: SOSBDX65111

MSRP: $1,689.99

The SIG SAUER Electro-Optics SIERRA6BDX Riflescopes is now shipping to retailers and is available for purchase at sigsauer.com. For more information about all SIG SAUER Electro-Optics products visit sigsauer.com.

Comp-Tac Completes Launch of New ERP System

Comp-Tac Completes Launch of New ERP System

From Comp-Tac

Comp-Tac® recently completed the implementation of the Infor Visual® enterprise manufacturing resource planning (ERP) system.

Visual delivers a complete, end-to-end, ERP solution that enables manufacturing companies to maintain a competitive advantage by delivering quality products on time. The use of this system will benefit customers through streamlining Comp-Tac’s material, manufacturing and order management processes.

“Since Comp-Tac was founded in 2001, one of our four driving principals has been to deliver on time with one of the shortest lead times in the industry,” explained Gordon Carrell, Comp-Tac general manager. “By continuing to invest in systems and technology, like Visual, we’ve lowered our current business lead time from 8-25 business days to 8-20 business days depending on order size while maintaining a rejection ratio of 0.0147%. In 2020, Comp-Tac faced record-breaking order volume, and we are proud that we maintained and even improved those numbers.”

Comp-Tac designs, manufactures, and ships all their holsters and accessories from their 12,000 square foot facility in Houston.

NSSF and Project ChildSafe Promote Firearm Safety this Holiday Season

NSSF and Project ChildSafe Promote Firearm Safety this Holiday Season
Project ChildSafe offers safety resources, educational materials to help keep families safe

From NSSF

With the holiday season upon us, the National Shooting Sports Foundation® (NSSF®) reminds Americans to practice responsible safety measures at home, including safe and responsible firearm handling and storage.

“It’s important to remember that the holidays can be a challenging time of year for many, and that may be especially true this year—particularly for those who are unable to see loved ones due to the pandemic, or who may be feeling isolated or alone for other reasons,” said Joe Bartozzi, NSSF President and CEO. “We want to ensure families are practicing safe firearm storage habits to reduce the chance of a firearm accident this holiday season.”

Recognizing this, NSSF has launched its Project ChildSafe® 2020 Holiday Safety campaign to remind Americans of the importance of firearm safety and secure storage, and provide tools to help keep families safe this holiday season. This includes safe and responsible firearm handling and storage information for current and new gun owners, home safety tips and guides on mental health and suicide prevention.

NSSF and Project ChildSafe have a variety of educational materials and resources available, including:

“Even though the holidays may be different this year, we want to encourage Americans to take the necessary steps to keep themselves and their families safe by continuing to prioritize safe firearm handling and secure storage,” said Bartozzi.

For more information and additional resources, visit www.projectchildsafe.org.

Owners of Polymer80 Buy Build Shoot Kits can expect an ATF Visit

The Firearm Blog received a tip on Friday that owners of Buy Build Shoot Kits from Polymer80 are having them seized by ATF as part of the agency’s investigation of the product. One of the website’s readers, ironically from my home town in Tucson, AZ, contacted the editors and even provided a photo of the receipt he or she received after the components were seized.

Here’s a look at the full story. The team at The Firearm Blog always does a great job, so give it a read if you get the chance.

NRA Announces New Dates for 150th Annual Meetings & Exhibits

From NRA

The National Rifle Association’s 2021 Annual Meetings and Exhibits will be held September 3-5, 2021. Originally scheduled for mid-May, the event will remain in Houston, Texas at the George R. Brown Convention Center.

As many uncertainties around COVID-19 restrictions persist, the National Rifle Association rescheduled its 150th Anniversary celebration to help members and exhibitors make the necessary plans to attend. Approximately 850 exhibitors will provide an exhibit hall that offers attendees a one of a kind experience with thousands of firearms on display from all their favorite manufacturers.

The 150th NRA Annual Meetings & Exhibits is open and free to all NRA members. Some events require a ticket, which can be ordered in advance. Members should watch their monthly membership magazine or go to www.nraam.org for updates and the latest information.

MidwayUSA Foundation Sees Record Breaking Giving Tuesday

MidwayUSA Foundation Sees Record Breaking Giving Tuesday

From MidwayUSA Foundation

Giving Tuesday, a global day of giving held on December 1 this year, generated nearly $250,000 for MidwayUSA Foundation. These donations, generated on just one day, directly benefit over 250 youth shooting program endowments held at MidwayUSA Foundation. Larry and Brenda Potterfield, owners of MidwayUSA, generously donated $175,000 to match the day’s donations, resulting in a $.070 match on every dollar.

G. Scott Reynolds, MidwayUSA Foundation Executive Director, talked about the big day for youth shooting sports. “The generosity shown on Giving Tuesday will provide opportunities for more of our youth to compete in youth shooting sports. This is a victory for the entire outdoor industry.” Between the generous contributions and the donation match, Giving Tuesday generated over $400,000 for youth shooting sports.

New in 2020 were additional endowment funds for participating shooting teams. The top five teams receiving the most online donation dollars were awarded $5,000, $4,000, $3,000, $2,000 and $1,000, respectively. Another ten youth shooting teams that received an online donation on Giving Tuesday were drawn at random to receive $500 each. Top performing teams included:

1st Place: United States Military Academy – Shotgun Program [NY]
2nd Place: The X Count [IN]
3rd Place: Lawrence County Young Guns [PA]
4th Place: Massachusetts Shooters Foundation Junior Programs [MA]
5th Place: Centralia Rifle Club and Junior Division [WA]

This is the most successful Giving Tuesday for the Foundation, beating 2019’s donation total by over $70,000! “In such a trying year when these shooting teams had so many obstacles keeping them from gathering and competing, I am even more impressed in the Giving Tuesday success. It is clear that these shooting teams and their supporters are truly invested in the future of their sport,” continued G. Scott Reynolds. Every dollar will grow the annual cash grant these teams and organizations are eligible to receive. The funds are critical, assisting with purchases like ammunition, entry fees, targets, uniforms, and more.

MidwayUSA Foundation continues to offer a match on every donation to youth shooting teams for the remainder of 2020. Throughout December there is $150,000 available in matching funds and the ratio of the match will depend on the total contribution dollars for the month. Donors can give directly to the team of their choice through the Foundation website (midwayusafoundation.org/donate) from anywhere in the country. Over 2,800 youth shooting teams have their own earmarked MidwayUSA Foundation Team Endowment that can receive donations. Donors will receive a tax receipt and 100% of the donation benefits the team of their choice, the Foundation keeps nothing for operational expenses.

The MidwayUSA Foundation is a 501(c)(3) public charity working to sustain and grow the shooting sports industry by providing long-term funding to youth shooting teams. Every donation made is tax-deductible and allows the Foundation to assist in expanding and enhancing the leadership skills, confidence, and discipline of today’s youth through shooting sports activities. The Foundation supports all shooting disciplines. For more information about how the MidwayUSA Foundation is changing the future of youth shooting sports, please visit MidwayUSAFoundation.org.