Taser International Inc.'s stock surged 7.1% in premarket trade Thursday, after the stun gun maker reported better-than-expected first-quarter profit and sales. For the quarter ended March 31, earnings more than doubled to $7.2 million, or 13 cents a share, from $3.4 million, or 6 cents a share, in the same period a year ago. That beat the FactSet consensus of 7 cents a share. Revenue increased 24% to $44.8 million, above the FactSet consensus of $40 million, boosted by strong sales of Taser X26P and Taser X2 Smart Weapon products. "TASER International is off to an outstanding start in fiscal 2015 thanks to strength in the TASER Weapons segment, as well as continued growth and new wins in the AXON business," said Chief Executive Rick Smith. "New programs such as the Standard Issue Grant Program are examples of how we are partnering with law enforcement agencies for the long-term, and we are enthusiastic thus far about the results of our investments." The stock has rallied 6% year to date through Wednesday, outperforming the S&P 500's 2.3% gain.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below