NEW YORK (TheStreet) -- Shares of Taser International (TASR) surged 10.74% to $18.24 in morning trading Thursday after the self-defense products maker reported third-quarter earnings that beat analysts' expectations.
Taser reported net income of $7.6 million, or 14 cents per diluted share, up from $5.1 million, or 10 cents per diluted share, in the same period one year earlier. Revenue totaled $44.3 million in the third quarter, a 26% year-over-year increase from $35.2 million.
The consensus estimate called for earnings of 10 cents a share on revenue of $39.6 million.
Taser attributed the revenue increase primarily to total law enforcement weapon handle sales, which rose $6.9 million year-over-year. International sales increased to $6.7 million, a $3 million increase from the year-ago quarter.
Separately, TheStreet Ratings team rates TASER INTERNATIONAL INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TASER INTERNATIONAL INC (TASR) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
- You can view the full analysis from the report here: TASR Ratings Report
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