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TASER Books $1.6 Million in New Sales

By Rich Smith - Apr 16, 2013 at 5:30PM

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And gains $13 million in market cap on the news.

TASER International (AXON 0.83%) has landed another large order of its eponymous stun guns. On Tuesday, the Scottsdale, Ariz.-based weapons maker announced that the San Diego Sheriff's Department has ordered 1,200 upgraded X2 "Smart Weapons."

In addition, the Columbus Police Department in Ohio ordered 62 TASER X26Ps and eight X2s. And smaller orders for X2s, X26Ps, and TASER CAM HD recorders -- presumably fewer than 20 units apiece, judging from TASER's past reporting practices -- were received from law enforcement agencies in Alabama, California, Colorado, Indiana, Kentucky, New Mexico, Ohio, Pennsylvania, South Dakota, and Wisconsin.

Financial details of the sales were not disclosed, but at advertised list prices (for those products for which prices are listed), the sum total of the above-listed orders appears to exceed $1.6 million.

TASER shares are surging 3.3% in response to the news, adding $0.25 per share to the stock price, and more than $13 million to TASER's market cap -- or about eight times the value of the stun-gun sales themselves.

 

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