Byrna Technologies Says Prel.Q3 Sales Up; Cuts FY22 Revenue Outlook Below View

(RTTNews) - Byrna Technologies Inc. (BYRN), a maker of security devices and tools, said in a preliminary report on Thursday that it expects a rise in revenue for the third-quarter, following an increase in demand.

However, considering a continued softening demand amidst inflationary trends, the company has revised down its sales outlook for the full-year, below analyst estimates.

For the quarter ended in August 31, the company expects to post revenue of $12.4 million, compared with $8.7 million posted a year ago. Analysts, on average, expect the firm to post sales of $15.42 million.

However, Byrna slashed its revenues expectations for the next quarter and fiscal 2022 in view of continued softening in demand for all manner of discretionary goods, including Byrna's range of self-defense products.

For fourth-quarter, the Andover-headquartered firm has decreased its revenue projections to $16 million to $18 million. Analysts, on average, expect the firm to post revenues of $19.65 million.

For the full-year to November 30, the security devices maker now expects to post revenues of $48 million to $50 million against its previous guidance range of $55 million to $60 million. Analysts, on average, expect the firm to post revenues of $54.63 million.