TASER International, Inc. NASDAQTASR reported robust Q3:16 results, with the revenue beating the estimate and the consensus.
Ladenburg Thalmann’s Glenn G. Mattson maintains a Neutral rating on the company.
Taser reported its Q3:16 revenue at $71.9 million, beating expectations, while the non-GAAP EPS came in at $0.09, in line with the consensus forecast, hurt by legal expense of $2 million and a meaningfully higher tax rate.
“3Q:16 was another very strong quarter for weapons which came in nearly $10 million above our forecast but was aided by revenue recognition policies under the newer weapons payment plan program which recognizes both 5 years of recurring weapons and cartridge revenue up front,” Mattson mentioned.
Cartridge units grew 25 percent year-over-year, while sales of the X2 and X26 rose 64 percent year-over-year.
However, the analyst expressed concern regarding
Taser also announced that its
Although the company has not provided any guidance for 2017, management did indicate toward continuing to spend to “ensure a larger overall market position especially in Europe,” Mattson said.
At last check in Thursday's morning session, Taser was up 13.59 percent at $26.89.
|Oct 2016||Imperial Capital||Initiates Coverage On||Outperform|
|Oct 2016||Ladenburg Thalmann||Downgrades||Buy||Neutral|
|Jul 2016||CL King||Upgrades||Neutral||Buy|
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