Security Devices International Inc (OTCMKTS:SDEV) (CSE:SDZ) posted fiscal fourth-quarter results Tuesday that saw sales leap, driven by strong demand for the company’s non-lethal Byrna personal security device.
For the fiscal fourth quarter ended November 30, the Wakefield, Massachusetts, company said preliminary sales soared 77% to $543,295, compared to $306,287 in the third quarter.
The company chalked-up the sales bump to higher production linked to growing demand for the Byrna HD. In the fourth quarter, production jumped 79% to exceed 3,000 units, over 1,675 units manufactured in the third quarter.
READ: Security Devices hits the bullseye with the Byrna, which is targeted at the non-lethal weapons market
During the quarter, Security Devices said it was successful in cementing an agreement with a big sporting goods marketing firm which has 40 sales representatives calling on around 10,000 sporting goods stores and firearms dealers.
Based on success at gun shows, Security Devices said it firmly believes that there is a large market for the Byrna HD among gun owners that want a non-lethal alternative for themselves and their family.
Filling a market void
"We're very pleased to see the positive market response to our product which we believe fills a market void for a truly effective, concealable non-lethal personal security device that can stop an assailant at stand-off distances of up to 60 feet,” CEO Bryan Ganz said in a statement.
The small, lightweight .68 caliber hand-held Byrna security device equipped with a five-round magazine is capable of accurately and effectively hitting a target at up to 60 feet — without causing serious injury.
The Byrna dispenses chemical payloads designed to burn an assailant’s eyes and respiratory system upon contact. Although it delivers chemical irritants which causes an immediate burning sensation, the Byrna fires non-lethal rounds which don’t kill people.
“We are equally pleased that production was able to keep up with demand. Based on our progress this quarter, we are confident that we can continue to grow production and sales in tandem,” said Ganz.
What really burnishes the Byrna’s market appeal is that it is not a firearm under federal law and doesn’t require a federal gun license.
“We were also pleased that in addition to signing up several dealers, we got our first order from a US private security company and our first test order from law enforcement," said Ganz.
Security Device’s products are used by the military, correctional services, police agencies, private security companies and individuals looking for personal security.
The company is banking on its patented design, compact size, five-round magazine, laser sight adaptability and point and shoot capabilities to make the Byrna a “truly effective” personal security device offering many of the same features as a handgun without loss of human life.
Contact Uttara Choudhury at [email protected]
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