Don't tase me, bro! Taser International , maker of stun guns and surreal news footage, said its third-quarter profit more than doubled. The company banked $6.2 million (9 cents per share) during the reporting period, with revenue surging 56% to $28.5 million. International sales accounted for 15% of total revenue.
Helping the company's revenue cost was the third-quarter launch of the Taser C2, of which TASR sold 7,000 units. Field testing of 2 new products ... the Shockwave and the eXtended Range Electronic Projectile (that sounds comfortable) will begin in the first half of next year.
Excluding items relating to a lower income-tax rate, TASR would have earned 6 cents per share, or a penny above analysts' consensus view. Analysts were expecting more modest revenue numbers as well, at $23.7 million.
While TASR opened modestly higher on this positive report, it has been unable to resist the bearish tide controlling the market this trading day. In mid-afternoon trading, TASR shares are off 2.7%. On the plus side, the stock's high-volume pullback has so far been contained by Taser's rising 80-day moving average. The shares haven't closed on the south side of this trendline since April.