Taser shares pop after closing body cam deal with Louisiana state police
Shares of Taser International popped 2 percent after announcing a deal with the Louisiana State Police, which includes more than 1,500 body cameras.
The statewide deployment is the first of its kind among state public safety agencies in the country, the department said. Taser will be providing 1,556 of its Axon Body 2 cameras, two for each member of the force. The agreement includes a five-year unlimited Evidence.com license with Axon Five image-processing software specifically designed for investigative, forensic and security applications, the company said in a news release.
Taser shares have gained 44 percent year to date, but have fallen 12 percent this quarter after the company lost the New York Police Department body cam contract to Vievu Safariland at a price that Taser described as "near or below cost."
Steve Dyer, analyst at Craig-Hallum, said the NYPD contract loss sparked fears of competition and pricing pressure among investors, but thus far appears to be "an anomaly."
The Louisiana State Police announcement concludes the agency's nearly year-long search, which began in January. Between February and September, 22 state troopers successfully piloted the Axon Body 2 cameras, the department said.
"Nothing is more important than the safety of the public we serve and the Troopers committed to that service," Colonel Mike Edmonson, the state police superintendent said. "We must ensure that we maintain transparency and accountability through proper training, sound procedures and the latest technology."
News of the deal with the Louisiana State Police comes one day after Taser announced orders from two other local law enforcement agencies. The San Bernardino County Sheriff's Department ordered 1,525 Taser X2 smart weapons and the Huntsville (Alabama) Police Department ordered 400 Taser X26P smart weapons. Both of those orders are also expected to ship during Taser's current quarter.
Disclosure: Craig-Hallum has received compensation from Taser for non-investment banking activities.