Byrna Stock Drops Despite Expecting Higher Q1 Revenue

(RTTNews) - Byrna Technologies Inc. (BYRN), Wednesday announced preliminary financial results for the first quarter, expecting revenue of $26.2 million compared to $16.7 million in the previous year.

The revenue growth primarily attributable to the continued success of Byrna's marketing strategies and increased production levels at Byrna's Fort Wayne, Indiana factory.

Moreover, the company expects to benefit from the higher tariffs on Chinese goods as it would raise costs for its competitors that depend on China for production.

Currently, Byrna's stock is trading at $22.88, down 3.92 percent on the Nasdaq.