Taser Gains 11% Following Q4 Beat

Shares of TASER International, Inc. TASR surged higher by more than 11 percent after the company reported its fourth quarter results.

Taser said it earned $0.09 per share in the fourth quarter on revenue of $56.04 million. Wall Street analysts were expecting the company to earn $0.04 per share on revenue of $50.72 million.

Taser noted that its quarterly sales rose 19.7 percent from the same quarter a year ago. The company's Weapons segment revenue rose 15.4 percent from a year ago to $46.7 million while the Axon segment saw its revenue increase by 47.0 percent to $9.4 million.

Net income for the quarter of $5.1 million was equivalent to the prior year's net income.

Taser added that at the end of the quarter, 30 major city law enforcement agencies purchased its Axon body-worn cameras and/or its digital evidence management solution.

Finally, Taser's Board of Directors approved a stock buyback program which authorizes the company to acquire up to $50 million worth of its outstanding stock.

"We concluded a very strong year for TASER International with record fourth quarter Weapons segment revenues and record quarterly bookings in our Axon segment," said Rick Smith, TASER chief executive officer. "Throughout the year, we made significant progress in extending our leadership position as the go-to provider of innovative technology solutions to law enforcement. We also demonstrated returns on the ongoing build-out of our international operations, which remains an important area of focus for us as we expand our addressable market."