SPRINGFIELD, Mass., Jan. 15, 2019 /PRNewswire/ -- American Outdoor Brands Corporation(NASDAQ Global Select: AOBC), one of the world's leading providers of firearms and quality products for the shooting, hunting, and rugged outdoor enthusiast, today announced that its Electro-Optics Division, Crimson Trace Corp., has completed the purchase of substantially all of the assets of LaserLyte, a provider of laser training and sighting products for the consumer market.
Lane Tobiassen, President of the Electro-Optics Division and Crimson Trace Corp., said, "We are excited to add the LaserLyte brand and product lines to our existing lineup of Crimson Trace laser sights, tactical lights, and optics. LaserLyte is well-known among consumers for its innovative laser training and sighting products, which cover a range of applications including non-live fire firearms training, sighting in rifle scopes and optics, and entertainment. LaserLyte's firearm training systems, laser sights and bore sights complement our existing offering, enabling us to reach broader segments of the consumer electro-optics addressable market. LaserLyte products fit well within our existing distribution network, and with the support of our product development and sourcing teams, we believe the additional brand and product lines provide us with growth and expansion opportunities for the Electro-Optics Division."
Crimson Trace completed the acquisition of LaserLyte assets, consisting largely of inventory and intellectual property, utilizing cash on hand. Inventory related to the acquisition will be transferred to the Crimson Trace facility in Wilsonville, Oregon, where LaserLyte operations will be assumed by existing product development, sourcing, assembly, and sales and marketing teams.
About American Outdoor Brands Corporation
American Outdoor Brands Corporation (NASDAQ Global Select: AOBC) is a provider of quality products for shooting, hunting, and rugged outdoor enthusiasts in the global consumer and professional markets. The company reports two segments: Firearms and Outdoor Products & Accessories. Firearms manufactures handgun and long gun products sold under the Smith & Wesson®, M&P®, and Thompson/Center Arms™, and Gemtech® brands as well as provides forging, machining, and precision plastic injection molding services. Outdoor Products & Accessories provides shooting, hunting, and outdoor accessories, including reloading, gunsmithing, and gun cleaning supplies, tree saws, vault accessories, knives, laser sighting systems, tactical lighting products, and survival and camping equipment. Brands in Outdoor Products & Accessories include Smith & Wesson®, M&P®, Thompson/Center Arms™, Crimson Trace®, Caldwell® Shooting Supplies, Wheeler® Engineering, Tipton® Gun Cleaning Supplies, Frankford Arsenal® Reloading Tools, Lockdown® Vault Accessories, Hooyman® Premium Tree Saws, BOG POD®, Golden Rod® Moisture Control, Schrade®, Old Timer®, Uncle Henry®, UST™, and Imperial™. For more information on American Outdoor Brands Corporation, call (844) 363-5386 or log on to www.aob.com.
About Crimson Trace Corporation
Based in Oregon, Crimson Trace Corporation offers laser sights, tactical lights, red dot sights, and riflescopes focused on the tactical, long range, hunting, and self-defense customer. The company's riflescopes and red dot sights are engineered to meet the needs of professional users and recreational firearms and outdoor enthusiasts and incorporate numerous performance features including proprietary illuminated reticle designs. The company's industry leading laser sight innovations include: Lasergrips® laser sights, Laserguard® laser sights, LiNQ® wireless operated laser and light systems, and Lightguard® lights for firearms, each with Instinctive ActivationTM firearm laser activation technology. Additional product lines include tactical lights and Defender SeriesTM and Rail Master® firearms accessories. Full details are available at www.crimsontrace.com or by calling 800-442-2406.
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. Such forward-looking statements include the opportunities for growth and expansion for our opto-electronics division; our belief that LaserLyte's firearm training systems, laser sights and bore sights complement our existing offering of lasers and optics under the Crimson Trace Brand; and our belief that that additional LaserLyte product lines will provide us with growth and expansion opportunities for our Electro-Optics Division. We caution that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include the demand for our products; the state of the U.S. economy in general and our industry in particular; general economic conditions and consumer spending patterns; the potential for increased regulation of firearms and firearm-related products; speculation surrounding fears of terrorism and crime; our ability to increase demand for our products in various markets; our penetration rates in new and existing markets; our strategies; our ability to introduce new products; the success of new products; our ability to expand our markets; our ability to integrate acquired businesses in a successful manner; the general growth of our firearm accessories business; the potential for cancellation of orders from our backlog; and other risks detailed from time to time in our reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2018.
Contact: Liz Sharp, VP Investor Relations
American Outdoor Brands Corporation
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SOURCE American Outdoor Brands Corporation