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Redwire slips as Q3 revenue miss overshadows swelling order book

By Reuters News

** Shares of space infrastructure company Redwire RDW.N fall about 4% to $7.42 premarket

** Co reports Q3 revenue of $109.04 million, missing estimates of $125.68 million, according to data compiled by LSEG

** RDW's defense tech unit, which sells combat technology to governments in the US and its allies, saw a 16% drop in Q3 sales

** Still, the segment's order book more than doubled from a year earlier, suggesting the revenue decline could have been driven more by delays than weakening demand

** "Although revenue timing continues to be uneven, the quality of our revenue is improving," CEO Peter Cannito says

** Co's Q3 net loss of 9 cents a share was less severe than the 12 cents per share analysts had expected

** Stock has inched up 1.6% so far this year as of Wednesday

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