Taser jumps on 2Q results and Colo. order

Associated Press

NEW YORK (AP) — Shares of Taser International Inc. advanced Thursday after the company reported strong second-quarter results and said it received a large order from the Colorado Springs Police Department.

The Scottsdale, Ariz., company posted greater net income and more revenue than analysts had expected. Taser also said the Colorado Springs police had ordered 525 Taser X2 devices for its patrol officers. The order was placed through a Taser program intended to help police departments upgrade their technology. The company said the order is one of its largest ever and that it plans to ship the devices in the third quarter.

Taser said its net income rose to $3.4 million, or 6 cents per share, during the second quarter. In the year-ago quarter, Taser lost $2.3 million, or 4 cents per share. Its revenue climbed 33 percent, to $28.2 million from $21.2 million.

Analysts were expecting a smaller profit of 2 cents per share and revenue of $23.1 million, according to FactSet.

Taser International shares gained 43 cents, or 8.7 percent, to close at $5.30 on Thursday.