NEW YORK (TheStreet) -- Shares of TASERundefined were falling 12% to $23.80 with heavy trading volume Thursday after the defense products company missed analysts' estimates for earnings in the fourth quarter.
TASER reported earnings of 9 cents a share for the fourth quarter, below analysts' estimates of 11 cents a share. Revenue grew 16.9% year over year to $46.8 million for the quarter, above analysts' estimates of $42.19 million.
The company said the TASER Weapons grew 7.7% from the year-ago quarter to $40.5 million. AXON segment revenue increased 159.4% year over year to $6.4 million for the fourth quarter.
Exclusive Report:Jim Cramer's Best Stocks for 2015
TASER also announced that total AXON and EVIDENCE.com booking increased $371.6% year over year to $24.6 million, up from $5.2 million in the year-ago quarter.
"We continue to see positive breakthroughs in the adoption of law enforcement cloud technology as evidenced by this quarter's EVIDENCE.com and AXON bookings of $24.6 million, nearly quadrupling last year's fourth quarter results," TASER CEO Rick Smith said. "We continue to win competitive bids with the largest agencies in the world as we are the only scalable end-to-end solution in the market today."
About 6.4 million shares of TASER were traded by 11:05 a.m. Thursday, above the average trading volume of about 2.8 million shares a day.
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 a few notable 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, expanding profit margins, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
You can view the full analysis from the report here: TASR Ratings Report
TASR data by YCharts