|U.S. Military Orders 2,400 Taser Devices|
Friday June 29, 8:55 am ET
Taser Receives Purchase Order for 2,400 Electronic Devices From U.S. Military
SCOTTSDALE, Ariz. (AP) -- Stun-gun maker Taser International Inc. said Friday the U.S. military has ordered 2,400 of its electronic devices.
No financial terms were disclosed. The news sent Taser shares up 72 cents, or 5.4 percent, to $14.12 in premarket electronic trading. The shares closed at $13.40 Thursday.
Taser said the order for the X26 Electronic Control Devices was placed with its military distributor, Aardvark Tactical Inc.
It is the first order of a five-year contract, with the possibility of future orders worth up to a maximum value of about $22.8 million, the company said.
Taser said it will ship a portion of the 2,400 devices in the second quarter. The rest will ship early in the third quarter.