TASER Beats Q1 Estimates, Shares Surge

Shares of

jumped over 8 percent in pre-market trading after the company reported upbeat results for the first quarter. The Scottsdale, Arizona-based company posted quarterly earnings of $7.2 million, or $0.13 per share, compared to $3.4 million, or $0.06 per share, in the year-ago period. Its revenue rose 23.7 percent year-over-year to $44.8 million. However, analysts were expecting a profit of $0.06 per share on revenue of $39.97 million. The average estimate among 8 Estimize users was for earnings of $0.08 per share and revenue of $42.17 million. International sales dropped $1.6 million from the year-ago quarter to $9.0 million in the first quarter. TASER Weapons segment revenue rose 18.1 percent year-over-year to $38.3 million in the first quarter, while AXON segment revenue rose 73.1 percent to $6.4 million. Total AXON and EVIDENCE.com bookings jumped 288 percent year-over-year to $22.9 million in the first quarter. Gross margin in the first quarter widened to 66.7 percent, versus 61.4 percent, in the year-ago period. At March 31, 2015, the company had $104.8 million in cash, cash equivalents and investments, versus $90.4 million at December 31, 2014. "TASER International is off to an outstanding start in fiscal 2015 thanks to strength in the TASER Weapons segment, as well as continued growth and new wins in the AXON business," said Rick Smith, TASER chief executive officer. TASER shares climbed 8.91 percent to $30.57 in pre-market trading.