TASER International, Inc. (NASDAQ:TASR) stock was soaring on Thursday following positive results in its third quarter of 2016 earnings report.
TASER International, Inc. reported earnings per share of 7 cents for the third quarter of 2016. This is more than double its earnings per share of 3 cents reported in the third quarter of 2015. It also came in above Wall Street’s earnings per share estimate of 6 cents for the quarter.
TASER International, Inc.’s revenue for the third quarter of 2016 was $71.88 million. Revenue reported by the company during the same time last year was $50.38 million. Analysts were expecting the company to report revenue of $59 million in the third quarter of 2016.
TASER International, Inc. noted that revenue from its TASER Weapons segment in the third quarter of 2016 was up 34% to $52.9 million from the same time in 2015. It also saw revenue from its Axon segment increase to $18.9 million during the quarter, which is a 75% increase from the third quarter of last year.
Net income reported by TASER International, Inc. in the third quarter of 2016 was $3.84 million. The electrical weapons company reported net income of $1.52 million for the third quarter of the year prior.
TASER International, Inc. also announced that current CFO Dan Behrendt is leaving the company after 12 years with it. Behrendt will stay on through the company’s 10-K filing to make the transition to his successor smooth. TASR has already started a national search to find a new CFO to replace Behrendt when he leaves.
TASR stock was up 11% as of Thursday morning and 52% year-to-date.
