Updated from 8:56 a.m. EDT

Taser International ( TASR) on Tuesday reported a 13-fold jump in second-quarter profit, but the highflying, big-talking stun-gun maker had yet another surprise for investors -- an accounting error -- as it shares fell sharply for the second day.

The Scottsdale, Ariz.-based company had net income of $4.5 million, or 14 cents a share, 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.

Analysts were expecting 13 cents a share, according to Thomson First Call.

Taser also disclosed that it had discovered an accounting error in its first-quarter results. The company said the error was in "its calculation of the deferred tax benefit it derives from employees' sale of stock obtained via the exercise of stock options," such that it understated how much its future income taxes would be reduced.

"The change affects the company's balance sheet and statement of cash flows only," Taser said. "There was no impact on the company's results of operations, including net income or earnings per share."

Taser said it would file amended data with regulators.

The company also said new orders received in the quarter were a record $16.7 million, an increase of 27% over the previous record quarter.

Taser makes advanced non-lethal weapons for use in the law enforcement, private security and personal defense markets, and it has become best known for its stun gun.

Shares fell $4.28 or 11.8%, to $32.04 Tuesday, having fallen almost 10% Monday following a weekend report in The New York Times questioning the safety of its weapons. The company vehemently rejected the thrust of the article and attempted to refute it in a lengthy news release.

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.