NEW YORK (TheStreet) -- Taser International (TASR) shares are rising 8.15% to $32.65 in morning trading today after the company released its first quarter earnings results after the closing bell yesterday.
The Scottsdale, AZ-based conducted electriccal weapons manufacturer reported a 18.1% increase in sales in its weapons segment to $38.3 million. Overall revenue increased 23.7% to $44.76 million, beating analysts' $39.97 million estimates.
The company reported earnings of 13 cents per diluted share for the period, more than double the 6 cents per share analysts had forecast.
"TASER International is off to an outstanding start in fiscal 2015 thanks to strength in the TASER Weapons segment, as well as continued growth and new wins in the AXON business," CEO Rick Smith said. "New programs such as the Standard Issue Grant Program are examples of how we are partnering with law enforcement agencies for the long-term, and we are enthusiastic thus far about the results of our investments."
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 several positive factors, 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, good cash flow from operations, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."