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Taser International Inc. reported record quarterly sales Monday morning, beating analysts' second-quarter estimates and sending shares up more than 10 percent to begin trading.
The Scottsdale-based company that produces non-lethal stun guns said revenue for the quarter ending June 30 was $25.9 million on strong domestic and intentional police department orders, a more than 59 percent increase over last year's period.
Net income for the second quarter was $3.7 million, or 6 cents a share, compared to a loss of $9.6 million, or 15 cents a share, in the year-ago period when Taser paid $17.7 million in a shareholder lawsuit settlement.
Three analysts surveyed by Bloomberg were expecting average sales of $21.9 million for the quarter.
"Our core businesses recovered nicely this last quarter," Taser chief executive officer Rick Smith said in a Monday conference call.
Taser also released the C2 for sale at retail stores on Monday, a consumer version of its stun gun. Chairman Tom Smith and president Kathy Hanrahan on Monday appeared on NBC's Today Show to promote the stun gun that comes in different colors, including pink, and fires two wires up to 15 feet. The wires carry 50,000 volts that temporarily incapacitate a person but travel about 20 feet less than the law enforcement version of the weapon.
http://www.azcentral.com/business/articles/0723biz-taser0724.html