After the successful and satisfactory completion of the previous order, TASER International Inc. (TASR) clinched another order from the Winston-Salem Police Department for 623 AXON body-worn video cameras with a five-year subscription to EVIDENCE.com, a cloud-based storage and management system. The order is expected to be shipped in the fourth quarter of 2014.
The market reacted positively to the news and the share price of the company gained 6.2% in the last trading session on Nov 26.
TASER International had initially supplied 293 AXON cameras with a three-year subscription to EVIDENCE.com to the Winston-Salem Police Department in July this year. The department convinced of the effectiveness of these body cameras has decided to fully deploy TASER’s technology in its force. The cameras facilitate enhanced interactions between their officers and the public.
The company’s user-friendly AXON cameras are small-sized but conveniently visible. The cameras can be attached to things like sunglasses, cap, shirt collar or a head mount and has a pocketsize battery pack which permits uninterrupted recording during an entire shift.
Other superior features of the camera include a 130° lens which offers a wider range view while the retina Low-Light technology enhances better viewing at night. Moreover, the recorded footage gets automatically uploaded to EVIDENCE.com through a docking station which cannot be tampered by an end-user.
This Zacks Rank #2 (Buy) stock reported impressive third-quarter results with its reported earnings of 14 cents per share beating the Zacks Consensus Estimate by 55.6%. Revenues of $44.3 million also outpaced the Zacks Consensus Estimate of $39 million.
EVIDENCE.com & Video revenues saw a 21.5% improvement to $4.3 million in the third quarter of 2014. AXON cameras and EVIDENCE.com bookings of $15.3 million shot up 163.8% year over year.
As per the press release, the Axon Body cameras have benefited both the Winston-Salem police department and the society at large. This technology requires less police personnel and even draws lesser complaints from the public, and could be used by other police departments and security agencies as well. This will add to TASER’s already increasing order book.
Apart from TASER International, other well-ranked stocks in the same sector include Allegion plc (ALLE), Engility Holdings, Inc. (EGL) and General Dynamics Corp. (GD). Allegion carries a Zacks Rank #1 while Engility Holdings and General Dynamics hold a Zacks Rank #2 (Buy).
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