Byrna Technologies Inc. (BYRN), a technology company specializing in personal, military, and law enforcement security devices, said on Thursday that it expects over 100 percent rise in its revenue for the third quarter of the current fiscal, driven primarily by higher e-commerce and physical sales. Owing to a strong demand, the firm has also raised its guidance for the fiscal year 2021.
The Andover-based hardware company expects revenue of $8.7 million for the August quarter, compared to $4.2 million, reported for the thirteen-week period ended in August 2020.
Following a rise in sales, Byrna has raised its revenue guidance for the fiscal year 2021 to the range of $40 - $42 million, against its previous projection range of $38 - $41 million.
Analysts, on average, expect the firm to report third-quarter revenue of $7.49 million, and annual revenue of $37.38 million.
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