Should You Buy TASER International, Inc (NASDAQ:TASR) After Stellar Results?
TASER International, Inc (NASDAQ:TASR) reported a record quarterly revenue of $35.2M for the Q3 which was a 22% increase from the same period a year ago. For the 2013 Q3, the company announced a sales increase of $6.4M in comparison to the 2012Q3 sales of $28.8M. The third quarter ended 30 September.
TASER International, Inc (NASDAQ:TASR) has attributed this record revenue to upgrades by numerous law enforcement agencies. These agencies have upgraded to the latest Taser X2 and Taser X26P Smart Weapons. The company’s Taser Cam HD recorders, Axon cameras and Evidence.com have also added to the rise in net sales in the Q3.
Rise in R&D expenses
Revenues in the Taser weapons segment rose $4.5 million y-o-y, or 16.8% to $31.6M in the Q3. There was a $1.9m rise in video product and Evidence.com. This was a 111.5% rise to $3.6M in the Q3. TASER International, Inc (NASDAQ:TASR)’s $2.4M R&D expenses rose by 22.9% in comparison to the same quarter of 2012. These were driven by the additional personnel-expenses that were connected to development initiatives for the video product and Evidence.com segments.
TASER International, Inc (NASDAQ:TASR) expects to see a rise in Research and Development expenses right through 2014. This is because Evidence.com & Taser have started expanding their cloud offerings into many adjacent technologies in the law enforcement field, said the company.
About the company
TASER International, Inc (NASDAQ:TASR) is involved in developing, manufacturing and selling electronic control devices that are designed to be used in the military, law enforcement, corrections, private-security & personal defense markets. Local, State and Federal enforcement agencies in the U.S and across the world are the company’s target markets for the TASER ECDs. TASER International, Inc (NASDAQ:TASR)’s TASER devices are deployed across county correctional-facilities, such as the ones that are operated by the Maricopa County Sheriff’s Office and Los Angeles Custody Division.