June 10, 2003
TASER International, Inc. Announces Two New M26 Orders and Continued Growth of New Orders
For Immediate Release
SCOTTSDALE, Ariz., June 10 /PRNewswire-FirstCall/ -- TASER International, Inc. (Nasdaq: TASR, TASRW), a market leader in advanced less-lethal weapons, today announced two new orders for its ADVANCED TASER M26. The first order, from the Collier County Sheriff's in East Naples, FL included 152 ADVANCED TASERs totaling $113,000. The second order was from an overseas agency that purchased 200 ADVANCED TASER's for $143,000.
"We are happy to see the continuing sales momentum for the ADVANCED TASER M26, with new orders being received at a record pace for this point in the quarter," said Rick Smith, CEO of TASER International. This is particularly encouraging as we are not anticipating significant sales revenue from the new TASER X26 product during the second quarter, since it was just introduced in May of this year. In order to ensure the highest quality possible, we plan on shipping all available TASER X26 units to prospects for testing and training purposes for the remainder of the second quarter. This will provide early feedback as we test, and retest our production processes and product design to ensure the best possible weapon performance in the field. Accordingly, we will not begin production shipments in significant numbers until our third quarter, when we have established a high degree of confidence from our early field test units," continued Smith.
"In order to minimize the transition costs for agencies looking to upgrade to the new TASER X26, we have announced a limited upgrade program that enables domestic ADVANCED TASER M26 users to trade-in M26 units for credit toward the purchase of TASER X26 weapons through December 30, 2003. Under this program, the end user will receive a credit for the list price of the M26 weapon less a $15 per month depreciation charge. The upgrade program will result in a partial deferral of revenue for the M26 sales during the second and third quarter of 2003. However, because the trade in program expires 12/30/03, the deferred revenue will be recognized by December 31, 2003, and will not have an impact on the final year end financial statements," stated Smith.
"Finally, we are happy to see indications from the Transportation Security Agency (TSA) that TASER International's EMD weapons (included in the generic category "stun guns") will likely be approved for use aboard commercial aircraft," concluded Smith. According to Reuters, a spokesman for the TSA, Robert Johnson, has indicated that stun guns were an acceptable non-lethal option to deal with hijackers. "We think they are viable but only if done right," he was quoted as saying.
About TASER International, Inc.
TASER International, Inc. (Nasdaq: TASR) provides advanced less-lethal weapons for use in the law enforcement, private security and personal defense markets. Our flagship ADVANCED TASER(R) product has reduced officer injuries by over 80% in the Orange County (FL) Sheriff's Office, and reduced suspect injuries by over 72% in the Phoenix (AZ) Police Department. The ADVANCED TASER is saving lives, reducing liability and creating safer jobs in over 2,500 law enforcement agencies worldwide. TASER International's new TASER X26 with Shaped Pulse(TM) technology is 60% smaller and lighter, further enhancing the usability of this life saving technology. Call 800-978-2737 or visit our website at www.TASER.com.
For further information contact Steve Tuttle, Director of Government Affairs at Steve@TASER.com or call 800-978-2737 ext. 2006. Visit the company's website at www.TASER.com for facts and video and preview www.TASERX26.com for hints to the TASER X26 technology.