COLUMBIA, Mo., Feb. 1, 2023
/PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global
Select: AOUT) ("AOB" or the "Company"), an industry leading
provider of products and accessories for rugged outdoor
enthusiasts, today announced it will expand the lease at its
Columbia, Missouri headquarters
and distribution center, effective as of January 1, 2024. The Company also announced that
it plans to release its third quarter fiscal 2023 financial results
on Thursday, March 9, 2023, after the
close of the market. The full text of the press release will be
available on the Company's website at www.aob.com under the
Investor Relations section.
AOB currently leases approximately 361,000 square feet, or 57%
of the Columbia, Missouri
headquarters and distribution facility. The agreement, which
commences as of January 1, 2024, and
ends November 26, 2038, will make AOB
the sole tenant, providing the Company full occupancy and use of
the building's approximate 632,000 square feet of warehouse and
office space and allowing for potential future building expansion.
The Company believes that the incremental annual lease expense, net
of tax and other incentives, will be approximately $1.3 million, which will be entirely offset by
savings from recent facility consolidations and efficiencies gained
in its distribution processes.
Brian Murphy, President and CEO
of American Outdoor Brands, said, "Our ability to expand the
existing lease and gain access to the entire Columbia facility provides us with a potential
opportunity to enhance our operational efficiencies in the
near-term by fine-tuning our floorplan and work processes to
optimize the consolidations of acquisitions from Oregon, Texas, and Michigan that we have completed over the past
six months. At the same time, it should position us well for the
future by providing us with capacity to grow, a benefit that aligns
well with our long-term plans, which include organic growth and
strategic acquisitions."
Conference Call and Webcast
The Company will host a
conference call and webcast on Thursday,
March 9, 2023, to discuss its third quarter fiscal 2023
financial and operational results. Speakers on the conference call
will include Brian Murphy, President
and Chief Executive Officer, and Andy
Fulmer, Chief Financial Officer. The conference call may
include forward-looking statements. The conference call and webcast
will begin at 5:00 p.m. Eastern Time
(2:00 p.m. Pacific). Those interested
in listening to the conference call via telephone may call directly
at (833) 630-1956 and ask to join the American Outdoor Brands call.
No RSVP is necessary. The conference call audio webcast can also be
accessed live on the Company's website at www.aob.com, under the
Investor Relations section.
About American Outdoor Brands, Inc.
American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT) is an
industry leading provider of outdoor products and accessories,
including hunting, fishing, camping, shooting, outdoor cooking, and
personal security and defense products, for rugged outdoor
enthusiasts. The Company produces innovative, top quality products
under its brands BOG®; BUBBA®; Caldwell®; Crimson
Trace®; Frankford Arsenal®; Grilla
Grills®; Hooyman®; Imperial®;
LaserLyte®; Lockdown®; MEAT!; Old
Timer®; Schrade®; Tipton®; Uncle Henry®;
ust®; and Wheeler®. For more information
about all the brands and products from American Outdoor Brands,
Inc., visit www.aob.com.
Safe Harbor Statement
Certain statements contained in
this press release may be deemed to be forward-looking statements
under federal securities laws, and we intend that such
forward-looking statements be subject to the safe harbor created
thereby. All statements other than statements of historical facts
contained or incorporated herein by reference in this press
release, including statements regarding our future operating
results, future financial position, business strategy, objectives,
goals, plans, prospects, markets, and plans and objectives for
future operations, are forward-looking statements. In some cases,
you can identify forward-looking statements by terms such as
"anticipates," "believes," "estimates," "expects," "intends,"
"targets," "contemplates," "projects," "predicts," "may," "might,"
"plan," "would," "should," "could," "may," "can," "potential,"
"continue," "objective," or the negative of those terms, or similar
expressions intended to identify forward-looking statements.
However, not all forward-looking statements contain these
identifying words. Specific forward-looking statements in this
press release include our belief that the incremental annual lease
expense, net of tax and other incentives, will be approximately
$1.3 million, which will be entirely
offset by savings from recent facility consolidations and
efficiencies gained in its distribution processes; the expanded
lease provides us with a potential opportunity to enhance our
operational efficiencies in the near-term by fine tuning our
floorplan and work processes to optimize the consolidations of
acquisitions from Oregon,
Texas, and Michigan that we have completed over the past
six months; and that the expanded lease should position us well for
the future by providing us with capacity to grow, a benefit that
aligns well with our long-term growth plans. We caution that these
statements are qualified by important risks, uncertainties, and
other factors that could cause actual results to differ materially
from those reflected by such forward-looking statements. Such
factors include, among others, the effects of the COVID-19,
pandemic, including potential disruptions in our ability to source
the materials necessary for the production of our products,
disruptions and delays in the manufacture of our products, and
difficulties encountered by retailers and other components of the
distribution channel for our products; economic, social, political,
legislative, and regulatory factors; lawsuits and their effect on
us; inventory levels, both internally and in the distribution
channel, in excess of demand; natural disasters, pandemics,
seasonality, news events, political events, and consumer tastes;
future investments for capital expenditures; future products and
product development; the features, quality, and performance of our
products; the success of our strategies and marketing programs; our
market share and factors that affect our market share; liquidity
and anticipated cash needs and availability; the supply,
availability, and costs of materials and components and related
tariffs; our ability to maintain and enhance brand recognition and
reputation; risks associated with the distribution of our products
and overall availability of labor; and, other factors detailed from
time to time in our reports filed with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the fiscal
year ended April 30, 2022. We do not
have, and expressly disclaim, any obligation to release publicly
any updates or changes in our expectations or any change in events,
consolidations, or circumstances on which any forward-looking
statements is made.
Contact:
Liz Sharp, VP, Investor
Relations
lsharp@aob.com
(573) 303-4620
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SOURCE American Outdoor Brands, Inc.