Taser shares tumble after release of 4Q results
SCOTTSDALE, Ariz. (AP) — Shares of Taser International Inc. tumbled Thursday after the stun gun maker reported a fourth-quarter profit that was slightly better than expected but failed to impress investors.
The Scottsdale, Ariz.-based company earned $3.8 million, or 7 cents per share, compared with a loss of $5.9 million, or 11 cents per share, in the same quarter the year before.
Analysts, on average, expected a profit of 6 cents per share, according to FactSet.
Revenue rose 51 percent to $32.1 million from $21.3 million, as law enforcement agencies upgraded to a new stun gun model.
Revenue at the company's stun gun business increased 47 percent to $9.6 million, while revenue at its video business, which makes cameras for police use, more than doubled to $1.8 million.
For the full year, Taser earned $14.7 million, or 27 cents per share, compared with a loss of $7 million, or 12 cents per share, in 2011. Revenue rose to $114.8 million from $90 million.
In midday trading, Taser shares fell $1.03, or 12 percent, to $7.56, after dipping as low as $7.30 earlier in the day. Over the past 52 weeks, the shares have traded between $3.96 and $9.80.