Boston, MA 11/01/2013 (wallstreetpr) – TASER International, Inc. (NASDAQ:TASR) develops, manufactures and sales electronic control devices used by law enforcers, military, and private security. TASR’s target market for its high-end ECDs include local, state and federal law enforcement agencies as well as the global market.
Emerging from a stronger than expected Q3 data, the stun gun maker’s stock gapped up more than 15% soon after the release of the results on October 30. However, at the close of October 31, trading session, the stock dipped 1.06% to $17.78. But it gained more than 2% in the after hour trading to settle up $18.14. The October 30, stock surge was the highest ever the company has seen in six years. The surge in TASR’s stock can be traced to the electroshock weapons and wearable video camera maker’s announcement of a huge order for its devices; effectively pushing up investor-confidence on NASDAQ. The company announced 525 Axon flex police camera order by Albuquerque, N.M., police department together with its cloud-based service.
The company’s Q3 earnings per share beat Wall Street estimates by $0.02 to come at $0.10 per share. This also indicated a 43% upward gap in the earnings column from a year ago quarter. On the revenue column, TASR’s figures grew 22% to hit $35.2 million, against $32.6 million expected by Wall Street. On segment basis, TASR witnessed weapon sales gap up 16.8% for the quarter ending Sept to $31.6 million. The camera and web service revenue attained $3.6 million, representing astounding 112% growth year on year basis.
The company is now turning its focus to cloud computing and officer-worn video which have already reached tipping point in efforts to further squeeze the most from the sale of its technologies. Due to increased sales for the quarter, lower operations costs and switch to third-party cloud service, the company noted gross margin gap-up of 62% against 58.4% a year ago.
