FX.co ★ Byrna Technologies Q3 EPS Misses Estimates; Stock Down 7%

Byrna Technologies Inc. (BYRN), a company specializing in personal security solutions, announced on Wednesday a net income of $1.03 million, or $0.04 per share, for the third quarter. This marks a significant improvement from last year's same quarter, which saw a net loss of $4.09 million, or $0.19 per share.

The company's net revenue for the quarter also demonstrated remarkable growth, nearly tripling to $20.85 million from $7.09 million in the corresponding quarter of the previous year.

Typically, analysts’ predictions, which usually exclude special items, estimated earnings of $0.05 per share on revenues of $20.80 million for the quarter, as per the average expectations of three analysts surveyed by Thomson Reuters.

Looking forward, CEO Bryan Ganz stated, "To enhance our production capabilities, we are rolling out a partial second shift in the fourth fiscal quarter of 2024, aiming to implement a complete second shift by the close of the first quarter next year. Additionally, a third production line dedicated to the Byrna Compact Launcher is being established."