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Taser Swings to 2Q Profit
Monday July 23, 7:44 am ET
Taser International Swings to 2nd-Quarter Profit on Sales Growth, Absence of Legal Charges
SCOTTSDALE, Ariz. (AP) -- Taser International Inc. distanced itself from hefty litigation last year and reported Monday that it swung to a second-quarter profit on strong sales to police departments nationwide.
Stun-gun maker posted earnings of $3.7 million, or 6 cents per share, compared with a loss of $9.6 million, or 15 cents per share, in the prior-year quarter. The 2006 quarter included a shareholder litigation expense of $17.7 million.
The five industry analysts surveyed by Thomson Financial were expecting 4 cents per share in the second quarter.
Sales swelled 59 percent to $25.9 million from $16.2 million a year ago due to growth in its core law enforcement market and sales to the U.S. military.
Taser stun guns fire electrically charged darts that carry 50,000 volts for several seconds, temporarily immobilizing targets.