Taser International, Inc. Headquarters
By: Sheree Pecoraro
Today Taser International, Inc. (NASDAQ: TASR) basically released two news worthy press releases, all on a day when the New York Stock exchange was closed in observance of Good Friday.
First off Taser said preliminary 1st quarter top line revenue estimates of approximately $23 million were expected and that final financial results will be released after completion of the quarter-end closing process.
They went on to announce that they had received two significant follow-on orders for TASER X26 and that these two orders included over 1080 TASER X26 ECDs and more than 2680 TASER CAMs, and related accessories, giving no further customer information at this time.
Thirdly, Taser International today announced that they had won a summary judgment against Stinger Systems, Inc. (OTCBB:STYS) saying that the U.S. Distract Court issued an order of Literal Patent Infringement against Stinger S-200.
The patent infringement claim against Stinger’s S-200 were founded on Tasers 295 patent, which encompasses much of its current product line. The Court said that “A party is liable for inducing infringement on a method claim “If it sells infringing devices to customers who use them in a way that directly infringes this method claim.”
Taser also has a claim on file in the United States District Court for the District of Nevada, from February 2009 against James F. McNulty Jr., Robert Gruder and Stinger Systems, Inc. alleging securities fraud, trade libel/defamation, unfair competition, abuse of process and deceptive trade practices. The defendants brought a motion to dismiss the complaint with the court. The court denied this motion on all claims except for the securities fraud claim, on March 25, 2010.
In response, Taser International, Inc.’s President and General Counsel, Doug Klint said “We believe the Court’s ruling in this patent infringement lawsuit against Stinger is a vindication of the important patent rights of TASER International and a rebuke to competitors who try to copy our protected intellectual property,”
Hidden within these press releases was also the fact that in the first quarter of 2010, Taser had four product liability lawsuits dismissed.
Nice article Sheree. Good news on the dismissed lawsuits.
Not sure where you found this new writer but she is incredible, I look forward to reading more of her work!
Looks like upward move is coming near term. 1Q results are right around the corner. Good quick reporting of facts as they come out, great job Sheree!
Wow, what a nice article, Sheree! I’m glad to see you writing articles. You have a lot to offer. I’ve always enjoyed your comments in the forum and on chat, so this is a real nice step up for you. In reference to TASER, it’s good to see how successful they have been in resolving the lawsuits…something I am afraid they will have to continuously be on top of in this type of business. Looks like the pps should be near the bottom in this cycle an a good time to buy prior to the release of Q1 results.