Taser International slumps after missing Q2 expectations
Taser International, Inc. (Nasdaq:TASR) is down 7% in morning trading after the stun gun maker said early Thursday that it swung to a second-quarter loss of $1.6 million, or $0.02 per share, compared with a profit of $3.7 million, or $0.06 per share, a year earlier. Wall Street analysts expected a loss of $0.01 per share.
Quarterly revenue slumped 19% to $21.1 million from $25.9 million during the same period of 2007. Wall Street analysts, on average, anticipated $27.2 million in revenue. The Scottsdale, Ariz.-based company blamed the lower sales on the weak American economy and lower spending by police agencies.
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