Taser Beats Q3 Expectations, Announces CFO Departure

Taser International TASR produced a better-than-expected Q3 report with EPS of $0.07 versus expectations for $0.06. Total sales during the quarter were $71.9 million versus expectations for $59.00 millions.

Taser also announced CFO Dan Behrendt will step down "to pursue other opportunities" and that the company is currently looking for a replacement. Behrendt will remain on-board until Taser files its annual 10-K.

The company said weapons segment revenues rose 34 percent year-over-year to $52.9 million. Gross margins from weapons came in at 72 percent versus 69 percent last year.

Axon segment revenues rose 75 percent year-over-year to $18.9 million, highlighting the continued strong demand for self-defense weapons. Axon segment margins were 45 percent versus 37 percent last year.

As of the end of the third quarter, 35 of the 68 major U.S. law enforcement agencies have purchased TASER's Axon body-worn cameras and/or its digital evidence management solution.

In the after-hours session, Taser shares rose over 2.5 percent after closing the regular session up $1.19, or 5.34 percent, at $23.67.