TASER International Inc. TASR declared that it has received a huge number of orders for its AXON body-worn cameras and EVIDENCE.com solution from several law enforcement agencies. The company received the orders in the first quarter of 2015, and they are expected to be shipped in the first quarter itself. Additionally, the company declared that the number of agencies using the EVIDENCE.com platform have now surpassed 5000.
Key orders received by the company include 70 AXON body and flex cameras with five years of EVIDENCE.com and TASER Assurance Plan (“TAP”) from Tucson Police Department (AZ), 350 AXON flex cameras with five years of EVIDENCE.com from Henrico County Police Department (VA), 109 AXON body and flex cameras with five years of EVIDENCE.com and TAP from Saint Charles Police Department (MO). Apart from these, the company has received bulk orders from other domestic agencies including Athens-Clarke County Police Department (GA), University of Central Florida Police Department (FL), Victoria Police Department (TX), Broome County Sheriff’s Office (NY), Redondo Beach Police Department (CA) and Ada County Sheriff’s Office (ID).
The company’s user-friendly AXON cameras, although small in size, are conveniently visible. They may be attached to things like sunglasses, cap, shirt collar or a head mount and come with a pocketsize battery pack that ensures uninterrupted recording through an entire shift.
Other superior features of the camera include a 130° lens for a wider range view, while the Retina Low-Light technology enhances night vision. Moreover, the recorded footage gets automatically uploaded to EVIDENCE.com, a cloud-based storage and management system, through a docking station, which cannot be tampered by any end-user.
As per TAP, TASER will provide maintenance and other services for its weapons over a period of five years and thereafter, replace them with a TASER Smart Weapon.
The growing order flow for AXON body cameras and EVIDENCE.com reflect the law enforcement agencies’ eagerness to improve transparency. In an attempt to do that, they are now deploying their officers with body cameras, thereby ensuring judicious use of firearms as well as fewer occurrences of incidents like the Fergusson case. President Obama’s proposed funding of $263 million for the purchase of 50,000 body-worn cameras has further boosted its demand.
AXON segment revenues surged 159.4% year over year to $6.4 million in the fourth quarter of 2014 due to higher average selling prices. Segment bookings skyrocketed 371.6% to $24.6 million from the year-ago level of $5.2 million.
Yet, this Zacks Rank #4 (Sell) company reported an earnings miss in the fourth quarter. Quarterly earnings of 9 cents per share declined 10% year over year due to rising costs.
Some better-ranked stocks in the same sector include Digimarc Corporation DMRC, Napco Security Technologies, Inc. NSSC and Net 1 Ueps Technologies Inc. UEPS, each carrying a Zacks Rank #2 (Buy).
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