Byrna Technologies Promotes John Brasseur to Chief Operating Officer and Raises Production Target to 18,000 Launchers per Month
25 April 2024 - 2:00PM
Byrna Technologies Inc. (“Byrna” or the
“Company”) (Nasdaq: BYRN), a personal defense technology
company specializing in the development, manufacture, and sale of
innovative less-lethal personal security solutions, today announced
the promotion of John Brasseur to Chief Operating Officer and
provided an update on its production plans.
John Brasseur, who joined Byrna in July of last
year as Vice President of New Product Development, has been
promoted to Chief Operating Officer where he will oversee Supply
Chain, Global Production, Engineering, and New Product Development.
With a 12-year tenure at Sig Sauer where he led the launch of
globally renowned handguns, Mr. Brasseur’s extensive experience
positions him uniquely to drive operational excellence and
strategic growth at Byrna. Under his leadership, Byrna has
successfully increased manufacturing capacity by 44%, from 10,000
to 14,400 launchers per month from January through March 2024. His
efforts in SKU rationalization and cost reduction on SD and LE
launchers are expected to yield financial benefits throughout the
remainder of the year. He has also overseen the design completion
of the Byrna CL (Compact Launcher), setting the stage for this
innovative product’s launch in 2025.
“I am honored to step into the role of Chief
Operating Officer at Byrna and continue to ensure new product
developments, supply chain, and production operations keep pace
with the growing demand created from our effective marketing
efforts,” said John Brasseur. “Our planned increase in production
capacity to 18,000 units per month by May 2024 will allow us to
meet run-rate demand and ensure we are well-stocked for the
upcoming holiday shopping season.”
Bryan Ganz, CEO of Byrna, stated, “John’s proven
expertise in product development and operational leadership is
crucial as Byrna approaches significant growth milestones. His
ability to manage our production increase to 18,000 launchers per
month, oversee the execution of a multisource plan for ammo and
piece parts, and drive continuous design upgrades for cost
reductions positions us strongly for the future. He will also play
a key role in the timely release of the Byrna CL in 2025.”
Byrna's production ramp-up began with a scale to
12,500 units in January 2024, reaching 14,400 by March, and is
projected to hit 16,300 in April. This initiative aims not only to
satisfy the rising demand but also to ensure ample stock
availability for the holiday season and beyond.
About Byrna Technologies
Inc.Byrna is a technology company specializing in the
development, manufacture, and sale of innovative less-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 less-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 StatementsThis
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 in this news release include,
but are not limited to, statements indicating that the Company will
expand its market reach or increase sales. 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.
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, potential cancellations of
existing or future orders including as a result of any fulfillment
delays, introduction of competing products, negative publicity, or
other factor, changes in the markets for security products and
non-lethal defense technology could have a material adverse impact
on our business, financial condition and results of operations, 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.
Investor Contact:Tom Colton and Alec
WilsonGateway Group, Inc.949-574-3860BYRN@gateway-grp.com
Byrna Technologies (NASDAQ:BYRN)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Byrna Technologies (NASDAQ:BYRN)
Historical Stock Chart
Von Mai 2023 bis Mai 2024