Byrna Technologies Issues Clarification of Press Release Regarding "Sale of 40 millimeter Legacy Business"
Byrna Technologies Inc. (NASDAQ: BYRN) has reiterated its full-year revenue guidance of $55 - $60 Million. The company clarified previous communications regarding the sale of its 40 millimeter blunt impact projectile (40 MM BIP) business, which saw total revenues of $43 thousand in fiscal year 2021 and $0 year-to-date in fiscal year 2022. Despite the clarification, Byrna emphasizes the potential risks associated with their forward-looking statements, including factors that may disrupt expected revenues and product demand.
- Reiterated full-year revenue guidance of $55 - $60 million.
- Only $43 thousand in revenue generated from the 40 MM BIP business in fiscal year 2021.
- Zero revenue reported year-to-date in fiscal year 2022 from the 40 MM BIP business.
- Potential risks identified that could affect revenue expectations.
Reiterates Full Year Revenue Guidance of
ANDOVER, Mass., July 12, 2022 /PRNewswire/ -- Byrna Technologies Inc. (NASDAQ: BYRN) today issued a clarification of Monday's press release regarding the sale of its 40 millimeter blunt impact projectile (40 MM BIP) business. Total revenues for the 40 MM BIP business in fiscal years 2021 and year-to-date in fiscal year 2022 were
About Byrna Technologies Inc.
Byrna is a technology company, specializing in the development, manufacture, and sale of innovative non-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company's investor relations site here. The Company is the manufacturer of the Byrna® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a non-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company's e-commerce store.
Forward Looking Information
This news release contains "forward-looking statements" within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as "plans," "expects," "intends," "will," "anticipates," and "believes" and statements that certain actions, events or results "may," "could," "would," "should," "might," "occur," or "be achieved," or "will be taken." Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements are not, and cannot be, a guarantee of future results or events. Examples of forward-looking statements in this press release include but are not limited to the Company's guidance on expected revenues for fiscal year 2022. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied.
Any number of risk factors could affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, lack of law enforcement demand for Byrna training courses or Byrna products in general, negative publicity, or other factors. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, ("Risk Factors") in our most recent Form 10-K, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, or the risks identified in our SEC filings, to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.
Contact:
Byrna Technologies Inc.
David North, Chief Financial Officer
dnorth@byrna.com
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SOURCE Byrna Technologies Inc.
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