During a press conference Los Angeles Mayor Eric Garcetti said the LAPD will purchase about 7,000 body-worn cameras in 2015. Taser expects to receive the first order of 860 AXON cameras in the fourth quarter, and will ship the cameras in the first half of 2015.
The LAPD also purchased a five-year subscription to Evidence.com which offers unlimited storage for data uploading from the AXON cameras and Evidence mobile apps.
"Given its size and world-wide recognition as a technology leader, the Los Angeles Police Department has unique logistical needs," Taser CEO Rick Smith said in a statement. "We collaborated closely with LAPD to create our new Officer Safety Plan to help serve agencies that want to have complete predictability of the costs of their on-officer video and TASER programs in one simple plan."
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 number of 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 is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."