(RTTNews) - Personal security solutions company Byrna Technologies Inc. (BYRN) reported Wednesday net income of $1.03 million or $0.04 per share for the third quarter, compared to a net loss of $4.09 million or $0.19 per share in the prior-year quarter.
Net revenue for the quarter nearly tripled to $20.85 million from $7.09 million in the same quarter last year.
On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.05 per share on revenues of $20.80 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead, "To further increase capacity, we are introducing a partial second shift in the fourth fiscal quarter of 2024, with plans to operate a full second shift by the end of the first quarter next year. Additionally, we are adding a third production line dedicated to the Byrna Compact Launcher," said CEO Bryan Ganz.
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