Taser announces order with international client
Taser International, Inc. (Nasdaq: TASR), announced that it received an order from a foreign international law enforcement agency for 1,375 Taser X26 Electronic Control Devices and related accessories.
“This order provides the continuation of large deployments of our TASER technology overseas to international law enforcement agencies outside the European Union," said Tom Smith, Chairman and Co-Founder of TASER International. "We anticipate making an impact in law enforcement around the world as more and more countries successfully conclude evaluation periods and deploy TASER technology to protect life."
Eric Wold at Merriman Curhan and Ford estimates Taser’s latest order to be worth between $1.1 and $1.3 million in second quarter revenues.
On the heels of Taser’s announcement today, Wold, who rates Taser as a “buy,” is increasing his second quarter revenue estimate to $22.3 million from $21.1 million. Wold notes that there is still room for upside in the second quarter given that there is potential for more orders before the termination of the quarter.
This order comes after another international order announced May 24 for $1.4 million.
Taser, which manufactures less-than-lethal self defense devices, has penetrated approximately 20% of the domestic law enforcement market and only less than 5% of the international market, according to Wold at Merriman Curhan and Ford. Wold, writes in a research note that, “After demonstrating some successful penetration of the domestic market, Taser is now poised to penetrate the significant global opportunity in 2007 or 2008.”
While Wold increased his second quarter earnings outlook for Taser, he is keeping his fiscal year 2007 estimate unchanged at $88 million. Wold’s estimate is higher than the Street’s consensus of $86.6 million.
The Arizona-based company expects this order to be shipped in the second quarter of 2007.
Shares of Taser climbed 5% or $0.61 to reach a fresh 52-week high of $12.73 in midday trading Tuesday.
