TASER International to Buy Back $30M Shares - Analyst Blog

TASER International, Inc. TASR announced that its board of directors has approved a $30 million share repurchase program. This announcement was greeted well by investors with the shares gaining 6.03% to close at $14.06 yesterday.

The new authorization from the TASER board is duly supported by the company's solid financial position, with cash and cash equivalents of $77.5 million as of Mar 31, 2014. Operating cash was $4.3 million in the first quarter of 2014.

TASER manufactures and sales conducted electrical weapons (CEWs) and AXON body-worn video cameras for use in law enforcement, military, federal, private security, and personal defense markets worldwide. Recently, the company ended the first quarter 2014 with solid earnings driven by higher sales. It surpassed the Zacks Consensus Estimate by 50.0% in the first quarter of 2014.

The company continues to receive several new domestic and international orders for CEWs and next generation Smart Weapons. The company's new Smart Weapon platform offers significant improvements in safety, effectiveness and accountability.

The company is committed to growing its business worldwide. The recent announcement of a pilot order from the London Metropolitan Police for 500 AXON body cameras and EVIDENCE.com reveal the growing popularity of TASER's security products in international markets. During the first quarter 2014, TASER's international revenue reached a record $10.6 million, an increase of 241.9% year over year.

Currently, the company holds a Zacks Rank #4 (Sell). Some better-ranked stocks in the same sector include Alliant Techsystems Inc. ATK, CAE Inc. CAE and Curtiss-Wright Corporation CW, all with a Zacks Rank #2 (Buy).