PALM BEACH, Florida, Dec. 13, 2019 /PRNewswire/ -- Augmented reality is changing the way we see the world. Blurring the line between what's real and what's computer-generated simply by enhancing what we see, hear, feel and even smell is quickly changing entire industries, providing near-real world realities. In the process, it's changing entire industries, including retail, where analysts at Gartner believe more than 100 million consumers will shop in augmented realty online and in-stores by 2020. AR is even becoming a top driving force for the auto industry, government, the military, logistics, and healthcare, with its ability to provide real-time data, transform, and simulate real life experiences. Better, over the course of the next three years, augmented reality could be part of a $120 billion industry, according to the International Data Corporation (IDC). All of this is creating sizable opportunity for companies including NexTech AR Solutions (OTCQB: NEXCF)(CSE: NTAR), American Outdoor Brands Corp. (NASDAQ: AOBC), Vista Outdoor Inc. (NYSE: VSTO), Sturm Ruger & Company Inc. (NYSE: RGR) and Lockheed Martin Corporation (NYSE: LMT).
NexTech AR Solutions (OTCQB: NEXCF)(CSE: NTAR) BREAKING NEWS: NexTech AR Solutions, the leader in augmented reality (AR) for eCommerce and AR learning applications is pleased to announce Davidson's Inc., one of the largest American firearms distributors, has now adopted NexTech's AR for both its B2C and B2B business. This is the first sign-up of the previously announced new major expansion contract with Walther Arms to provide its dealers, numbering in the thousands, with the WebAR 3D experience. As an early adopter, Walther has had the opportunity to analyze the Nextech data and analytics dashboard and based on the extremely positive results, has agreed to cover the cost for their top 25 dealers to adopt AR and specifically the PPQ M2. Davidson's Inc. facilitates every major American brand of firearms including; Walther, Smith & Wesson, Glock, Browning, Colt, Sig Sauer and many others. NexTech AR plans to work with them to revolutionize the industry with web-based AR. Dominic Romito Director, Davidson's Web & eCommerce states, "The development and adoption of AR tech will go a long way to allowing customers to truly experience a product before they purchase. At Davidson's, we are excited to incorporate Walther's Q5 Match AR model onto our product pages and believe that adopting this technology early will help the industry move forward as a whole."
Evan Gappelberg, CEO of NexTech comments. "Working with Walther has been great as Walther has really shared our vision and has been the perfect customer and partner for NexTech. As Walther introduces us to Davidson's, it really opens up our business model with Walther into their strong base of 5000 global dealers and retailer network". He continues, "With NexTech's augmented reality platform for eCommerce, Davidson's and other dealers will be able to increase their customer engagement, add to cart rates, and revenue while reducing product returns—all visible and measurable through our real-time analytics dashboard. We are looking forward to continuing to expand our AR value proposition within the firearms industry with product training, which provides huge value and growth opportunities for both of our companies."
Other defense-related developments from around the markets include:
American Outdoor Brands Corp. (NASDAQ: AOBC) announced financial results for the second quarter fiscal 2020, ended October 31, 2019. James Debney, American Outdoor Brands Corporation President and Chief Executive Officer, commented, "During the second quarter, we remained focused on innovation throughout our company. In firearms, we began shipping into the channel a major new product, which will be available to our consumer customers on December 12. In both our firearms and our outdoor products and accessories businesses, we prepared a large number of exciting new products for launch at SHOT Show in January 2020." "Subsequent to the end of the second quarter, we announced a plan to spin-off our outdoor products and accessories business as a tax-free stock dividend to our stockholders. We expect to complete the transaction in the second half of calendar 2020, thereby creating two independent publicly traded companies: Smith & Wesson Brands, Inc. (the firearm business) and American Outdoor Brands, Inc. (the outdoor products and accessories business), each of which are leaders in their industries. We believe the spin-off will drive long-term value for our stockholders by enabling the management team of each company to focus on its specific strategies, including structuring its business to take advantage of growth opportunities in its specific markets; tailoring its business operation and financial model to its specific long-term strategies; and aligning its external financial resources, such as stock, access to markets, credit, and insurance factors, with its particular type of business. In order to provide our stockholders with better visibility into each of these businesses, we will begin providing revenue guidance for each business, beginning with today's financial results announcement."
Vista Outdoor Inc. (NYSE: VSTO) announced that its Board of Directors has appointed four new executive officers to its corporate leadership team. Brad Crandell was named Chief Human Resources Officer. Mark Kowalski was named Vista Outdoor's Controller and Chief Accounting Officer. Dylan Ramsey was named Vice President, General Counsel and Corporate Secretary. Kelly Reisdorf was named Vice President, Chief Communications and Investor Relations Officer. Mr. Crandell, Mr. Kowalski, Mr. Ramsey and Ms. Reisdorf all previously served in senior roles at Vista Outdoor. "Our leadership team consists of determined and talented personnel with vast knowledge in their industries. We're excited to promote these capable executives from within the company to more prominent roles, where they will support our ongoing transformation and financial performance efforts while providing much-needed continuity and stability to our corporate functions," CEO Chris Metz said.
Sturm Ruger & Company Inc. (NYSE: RGR) announces the addition of MGE Wholesale (MGE) as an independent distributor of Ruger firearms in the United States. "We are thrilled to be adding MGE as a distributor," said Shawn Leska, Vice President of Sales at Ruger. "As one of the few firearms manufacturers committed to two-step distribution, Ruger is always looking for ways to improve its network. We are confident that MGE will help us achieve our long-term goals and better serve the shooting sports market," he concluded. Based in South Bend, Indiana, MGE is a nationwide distributor of firearms, ammunition and shooting sport accessories. With more than 20 years of experience, MGE and its dedicated staff are very knowledgeable about the firearms industry and the needs of their customers. Offering a diverse inventory, MGE provides retailers with products and services to help grow their business. "It is evident that our company values are strongly aligned," said Brad Foster, President of MGE. "We are proud to become a full line distributor of Ruger products and are looking forward to introducing exciting exclusives together in 2020."
Lockheed Martin Corporation (NYSE: LMT) announced a teaming agreement with TC Energy in which the two companies will identify and develop large-scale, long-duration energy storage projects using GridStar® Flow, Lockheed Martin's innovative flow battery technology. This cutting-edge energy storage system is capable of storing six to 12 hours or more of energy and dispatching it as needed. "We are thrilled to be partnering with TC Energy to bring long-duration energy storage to TC Energy projects in North America," said Dan Norton, vice president of Lockheed Martin Energy. "GridStar®Flow provides the durability, flexibility and safety necessary for project success, ensuring that TC Energy can customize systems to fit their needs and operate them for many years."
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