rhsmd cron failing with error: No module named dateutil.parser

Issue

/etc/cron.daily/rhsmd failing with error: No module named dateutil.parser

Traceback (most recent call last):
  File "/usr/libexec/rhsmd", line 34, in ?
    from subscription_manager.injectioninit import init_dep_injection
  File "/usr/share/rhsm/subscription_manager/injectioninit.py", line 17, in ?
    from subscription_manager.cache import ProductStatusCache, EntitlementStatusCache, \
  File "/usr/share/rhsm/subscription_manager/cache.py", line 30, in ?
    import rhsm.connection as connection
  File "/usr/lib64/python2.4/site-packages/rhsm/connection.py", line 20, in ?
    import dateutil.parser
ImportError: No module named dateutil.parser