How's this for those capitalizing on this week's civil unrest in Ferguson, Mo., following the shooting death of teenager Michael Brown?
Taser International (TASR) climbed 9.4% $13.91 Friday on speculation that its equipment, particularly its Axon video camera recorders, will see broader use by law enforcement agencies.
Police departments in Houston and Fresno, Calf, and recently expanded orders for the camera equipment. Taser says it's also received third-quarter camera orders from 14 other police departments.
A year-long Cambridge University study conducted at the Rialto, Calif., Police Department of officers' use of video cameras showed an 88% reduction in citizen complaints and 60% reduction in use of force, Taser says. Earlier this week, New York federal judge Shira Scheindlin declared that the New York Police Department's stop-and-frisk program was unconstitutional and ordered some NYPD precincts to start using video cameras, saying they would reduce potential constitutional rights violations.
Taser is best known for its stun guns, which still account for the lion's share of revenue.
For the quarter ended June 30, Taser said stun guns accounted for $32.7 million of $37.2 million in overall sales. But video equipment revenue surged 136% to $4.5 million from the year ago quarter and orders jumped 465% to $11 million from $2 million in the year-ago quarter.