Taser International Shoots Higher on Order News (Business Week)
Summary: Taser (NASDAQ:TASR) saw its shares rise significantly after securing three major orders for a total of 2,654 X26 stun gun units and accessories, and anticipates a third-quarter revenue of $18 million. New customers include the San Bernardino County (Calif.) Sheriff's Office, the Mesa Police Department, and the French Ministry of Interior. As a result, analyst Eric Wold of Merriman Curhan reiterated his "Buy" recommendation and indicated he expects to raise earnings estimates from $16.4 million to $18 million. This is welcome news; Taser shares slid in January as the result of an investigation concerning the safety of the stun guns. Although charges were dropped, Taser paid $22 million in August to settle lawsuits.
Related links: Full article • Background: TASER Receives Several Orders for X26; Issues Revenue Guidance Above Analysts' Estimates (Reuters) • TASER Wins Two More Lawsuits (Reuters)
Seeking Alpha is not affiliated with Business Week.