Taser second-quarter profit drops 13 percent, tops forecast
Taser International Inc. on Wednesday reported profit that declined by 13 percent in its second quarter on higher expenses, but results beat expectations and sales surged, helped by higher sales of weapon handles to law enforcement agencies.
Taser, known for its stun guns, has been expanding into wearable technology and digital evidence management.
The Scottsdale, Arizona-based company said net income dropped to $3.9 million, or 7 cents per share, from $4.5 million, or 8 cents per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for profit of 5 cents per share.
The stun gun maker said revenue climbed 16 percent to $37.2 million from $32.2 million in the same quarter a year ago. But that fell slightly short of the Wall Street forecast of $37.3 million, according to Zacks.
The company said its Axon cameras, evidence.com digital evidence management site and its Taser Cam HD recorders all contributed to the sales increase.
Shares rose $1.27, or 11 percent, to $12.77 during morning trading. The stock had been down 28 percent since the beginning of the year.