Data Patterns shares fell 7.5% as Q1 profit declined 22.2% YoY and revenue slipped 4.6% on delays.

• Revenue dipped on temporary customer approval delays, with recovery expected in upcoming quarters, says Chairman Srinivasagopalan Rangarajan.
• Trading volume hit 325,393 shares, about 1.4 times the 30-day average activity in the stock.
• Stock is down roughly 4% year-to-date despite a strong long-term industry demand outlook in defence electronics.