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TASER International Inc. Reports Operating Results (10-K)

March 14, 2011 | About:
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10qk

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TASER International Inc. (TASR) filed Annual Report for the period ended 2010-12-31.

Taser International Inc. has a market cap of $260.5 million; its shares were traded at around $4.16 with and P/S ratio of 3.

Highlight of Business Operations:

Our most popular product is the TASER® X26 with Shaped Pulse Technology, which we introduced in 2003. Shaped Pulse Technology is a refined energy pulse that concentrates a small portion of energy to first penetrate any barriers, while the majority of the energy flows into the target freely after the barrier has been penetrated. The TASER X26 product line consists of the TASER X26, various cartridges (described below), a digital power magazine (DPM) the replaceable battery power supply, data download software and equipment, extended warranties, and a number of holstering options and accessories. The TASER X26 product line (excluding sales of the consumer TASER® X26C and individual cartridge sales) accounted for approximately $40.8 million, $53.4 million and $51.2 million, or 47%, 51% and 55% of our net sales, for the years ended December 31, 2010, 2009 and 2008, respectively.

In the third quarter of 2009, we introduced the TASER® X3, which we believe represents a significant advancement in capabilities and features over our existing devices. The X3 is a revolutionary new multi-shot ECD that can engage three separate targets, display Warning Arcs while loaded, deliver a calibrated NMI pulse that results in improved safety characteristics and enhanced dataport logs known as the Trilogy Logs that include Event, Pulse, and Engineering Logs. While the TASER X3 offers enhanced firepower over existing ECDs, it also represents a significant leap in sensor and computation power making it the most intelligent hand-held force option ever developed. The TASER X3 product line (excluding individual cartridge sales) accounted for approximately $2.3 million and $0.5 million, or approximately 3% and less than 1%, of our net sales, for the years ended December 31, 2010 and 2009, respectively.

Our third law enforcement product line is the ADVANCED TASER® M26, which we originally launched in November 1999 and was the first TASER ECD featuring the NMI capability. The ADVANCED TASER M26 product line consists of the ADVANCED TASER M26, various cartridges (described below), rechargeable batteries, a battery charging system, data download software and equipment, extended warranties, and a number of holstering options and accessories. We will discontinue the sale of this product in North America beginning in 2011; however, it will continue to be available and will be supported for emerging international markets who wish to introduce our technology with a lower cost option. The ADVANCED TASER M26 product line (excluding individual cartridge sales) accounted for approximately $2.2 million, $3.3 million and $2.5 million, or approximately 3%, of our net sales, for the years ended December 31, 2010 2009 and 2008, respectively

Our total consumer products accounted for approximately $4.8 million, $5.9 million and $7.6 million, or 6%, 6% and 8% of our net sales, for the years ended December 31, 2010, 2009 and 2008, respectively.

Individual cartridge sales accounted for approximately $22.0 million, $27.9 million and $20.5 million, or approximately 25%, 27% and 22%of our net sales, for the years ended December 31, 2010, 2009 and 2008, respectively.

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