Tuesday reported a 469% jump in third-quarter profit, as the fast-growing and controversy-generating company continued to beat analysts' estimates.
The company had net income of $6.1 million, or 19 cents a share, vs. $1.1 million, or 4 cents a share, a year ago. Revenue rose 211% to $18.9 million.
Analysts were expecting the company to earn $4.9 million, or 15 cents a share, on revenue of $17.8 million, according to Thomson First Call.
Taser makes advanced non-lethal weapons for use in the law enforcement, private security and personal defense markets, but has become best known for its stun guns, which have faced some heat regarding their safety.
The Scottsdale, Ariz.-based company also said that it now expects revenue for 2004 to rise 175% higher than 2003, up from its previous forecast for a 150% gain. Analysts expect revenue of $67.21 million.
In the second quarter, Taser reported a 13-fold jump in second-quarter profit, posting net income of $4.5 million, or 14 cents per share, beating analysts' expectations by a penny, compared with slightly more than $347,000, or 2 cents a share, in the year-ago period. Revenue almost quadrupled to $16.3 million from $4.2 million.
Shares were trading at $40.30, up $2.23, or 5.9%, in premarket trading. Shares hit a split-adjusted, 52-week high of $64.15 in April. Shares split in both April and February of this year, following an enormous rally dating back to mid-2003.