TASER International Inc.TASR disclosed that its subsidiary, Axon Public Safety UK, has won an order for 2,200 Axon Body 2 cameras and 196 Axon Flex 2 cameras from Warwickshire Police and West Mercia Police forces.
The order covers a two-year unlimited subscription of EVIDENCE.com - TASER's cloud-based digital evidence management platform - for storage, handling and sharing of data from the body cameras and other digital evidence sources.
The company received the order in the fourth quarter of 2016 and expects to roll out shipments in phases throughout 2017.
Axon Body 2 & Axon Flex
Introduced in Oct 2015, Axon Body 2 is part of the growing Axon platform that connects cloud, mobile and wearable technologies. The company aims to render law enforcement agencies a distinct transparency through the deployment of body cameras. Axon Body 2 takes the powerful simplicity of its predecessor to the next level with its single-unit design and more advanced capabilities, like unlimited HD video recording and industry-leading security enhancements.
The Axon Flex body cameras, powered by Signal technology, maintain a detailed record of every police incident. Axon Signal ensures automatic activation of all cameras in range to ensure minimal risk of user error.
What's Making Body Cameras So Popular?
Growing demand for AXON body cameras and EVIDENCE.com reflect law enforcement agencies' shift in focus toward accountability and trust. Thus, with increasing tensions between law enforcement officials and the public, demand for TASER's products and services have seen a dramatic rise.
Police departments of major cities like Chicago, Dallas, Los Angeles and New York are now deploying Axon Body cameras on their officers. The latest order is one of the several placed by other countries, indicating TASER's expanding footprint beyond the U.S.
TASER specializes in less lethal, conducted energy weapons, primarily meant for law enforcement and corrections. The advanced TASER weapon offers better performance than other less lethal options used for this purpose. As a result, the company is now leading the body camera segment.
However, TASER has recently been facing a choppy market conditions due to stiff competition in the industry and cyclical sales of its products.
TASER International has outperformed the Zacks categorized Protection-Safety Equipment and Service industry. The company's current rate of return is 72.6% compared with the industry's average of 27.0% over the last 12 months.
TASER International's high-quality smart weapons enjoy robust demand as law enforcement agencies across the U.S. are increasingly opting for such devices to strengthen their existing infrastructure. The company has also gained a handful of international customers, courtesy of the quality and ease of use of its products, which in turn, is driving its performance. The stock's performance is in line with that of Alarm.Com Holdings, Inc. ALRM , Ascent Capital Group, Inc. ASCMA and Net 1 UEPS Technologies, Inc. UEPS , which also surpassed the industry mark.
TASER currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Stong Buy) stocks here .
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