- Byrna Technologies (CSE:BYRN) has resumed production of its non-lethal Personal Security Device under designation as an essential service
- While COVID-19 restrictions have delayed shipments, the company expects to fulfil all open orders by mid-May
- Both brick-and-mortar and online sales have spiked in recent months amid virus-related fears
- However, the company is anticipating a sales drop of roughly C$20,000 for April due to the interruptions
- Byrna Technologies (BYRN) is currently down 3.25 per cent to $0.28 per share
Byrna Technologies (CSE:BYRN) has resumed production of its non-lethal Byrna HD Personal Security Device under designation as an essential service.
The Massachusetts-based company temporarily suspended its operations in March due to government-imposed restrictions.
Its Byrna HD product is a non-lethal, handgun-like “launcher” that fires a .68 caliber projectile containing chemical irritants. The device carries a five-round magazine, and is capable of hitting a target up to 60 feet away.
Shipments of the Byrna HD have experienced substantial delays in distribution as a result of COVID-19. However, the company is expecting to fulfil all its outstanding orders (worth approximately C$250,000) by mid-May this year.
That said, Byrna is also anticipating a subsequent drop in April revenue of roughly $20,000.
“We hate to disappoint customers who are waiting for Byrna HD’s even a little, but most of them are hanging in there and supporting Byrna,” said Reilly Schueler, Director of Sales and Marketing at Byrna Technologies.
The Byrna HD is currently distributed through over 50 brick-and-mortar locations, primarily across western parts of the US. As part of the company’s growth strategy, its focus is on expanding into new markets in the Midwest, Southeast and Mid-Atlantic states.
This has been supported in recent months by a significant spike in Byrna’s online sale, driven largely by virus-related fears. Total website visitors grew from 23,505 in February this year to 72,017 in April.
“We continue to see strong demand for our products, even as some of the panic seems to have settled down and quarantines became the new normal.
“We are seeing tremendous growth in online interest, measured by daily website visits, which climbed from a daily average of 541 in December to 3,127 in April. This is translating directly into substantially higher order volumes,” Reilly concluded.
Byrna Technologies (BYRN) is currently down 3.25 per cent to $0.28 per share at 3:50pm EST.
