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New stun gun orders boost Taser's 1Q profit

Published on NewsOK Modified: April 30, 2014 at 9:01 am •  Published: April 30, 2014

SCOTTSDALE, Ariz. (AP) — New orders for its stun guns helped lift Taser International Inc.'s first-quarter profit by 3 percent from the same period a year ago.

The company, which is based in Scottsdale, Ariz., said it received orders for X2 and its new X26P stun guns from law enforcement agencies in Virginia, Texas, North Carolina and other states during the quarter.

Revenue in its weapons unit rose 16 percent to $32.5 million. Revenue from both its Axon wearable video cameras and, an online software that lets police officers upload and store images and videos used as evidence, rose 52.6 percent to $3.7 million.

Taser said its net income rose to $3.4 million, or 6 cents per share, in the quarter ending March 31, compared with $3.3 million, or 6 cents per share, in the same quarter a year ago. Total revenue rose 18.9 percent to $36.2 million from $30.4 million.

CEO Rick Smith said he hopes to grow the company's revenue from outside the country. A police department in London is trying out Taser's wearable cameras and using, Smith said.

Its shares dropped $1.49, or 8.7 percent, to $15.59 in morning trading.