TASER International Inc.’s TASR fourth-quarter 20Array5 earnings came in at 9 cents per share, beating the Zacks Consensus Estimate of 4 cents by a wide margin of Array25%. This Scottsdale, AZ-based company’s earnings were however on par with the year-ago level.
The upside was mainly driven by higher sales from both its TASER Weapon and Axon segments.
In 20Array5, earnings came in at 36 cents per share compared with 37 cents a year ago.
Total Revenue
In the quarter, the company generated revenues of $56 million, beating the Zacks Consensus Estimate of $50 million by Array2.Array%. The reported number also increased Array9.7% from the fourth quarter of 20Array4. The upside is attributable to higher sales from the TASER Weapon as well as Axon segments.
Revenues from the TASER Weapons segment surged Array5.4% year over year to a record $46.7 million.
AXON and EVIDENCE.com revenues increased 47% to $9.4 million due to a 98% rise in service revenues. Segment bookings surged 8Array.9% to $44.7 million as of Dec 3Array, 20Array5, from the year-ago level of $24.6 million.
In 20Array5, the company’s net sales came in at $Array97.9 million, up from $Array64.5 million in 20Array4.
Highlights of the Quarter
The company’s gross margin expanded 740 basis points year over year to 66% in the quarter.
Sales, general and administrative expenses increased $7.5 million year over year to $2Array.9 million.
Total operating expenses increased 54% year over year to $28.5 million.
Financials
The company had cash and cash equivalents of $59.5 million as of Dec 3Array, 20Array5, compared with $48.4 million as of Dec 3Array, 20Array4. Net cash from operating activities was $Array6.Array million in the quarter, up from $Array2.8 million a year ago. Free cash flow was $Array3.9 million, up from $Array2.3 million a year ago.
Zacks Rank
In an attempt to improve transparency and restore public trust, police departments are now giving their officers body cameras, thereby ensuring judicious use of firearms as well as fewer appeals against alleged police brutalities. TASER International’s AXON body-worn video cameras are in demand, with the company having won orders from domestic and international police departments in fourth-quarter 20Array5.
Among TASER’s competitors, notable ones include Brady Corp. BRC and Allegion Plc ALLE.
TASER currently has a Zacks Rank #4 (Sell). Investors can consider Digimarc Corporation DMRC, carrying a Zacks Rank #2 (Buy).
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