NEW YORK – Taser International Inc. (TASR) on Tuesday said it will delay filing financial statements for the first quarter while it finishes revising last year's annual report to correct miscalculated tax amounts.
In a Securities and Exchange Commission (search) document, Taser, whose sales have suffered recently from the controversy over the safety of its stun guns, asked regulators for a 5-day extension to submit its quarterly report, which was due Monday.
The company also said earnings for the quarter ended March 31 were $168,000, or break even, compared with $3.6 million, or 6 cents per share, the year before. When Taser released preliminary results in mid-April, the company did not report earnings per share figures.
Separately, Taser said it received an order from British law-enforcement agencies for more than $390,000 of Taser weapons and accessories. The equipment is expected to ship during the second quarter, Taser said.
The order comes despite mounting opposition to Taser's stun guns (search), which are being blamed for a growing list of accidental deaths. Although Taser stands by studies demonstrating the safety of its weapons, law enforcement and legislators nationwide have been reconsidering the need for Tasers.
In the first quarter, Taser's sales dwindled to $10.2 million, down 22 percent from $13.1 million a year earlier.
Taser shares dropped 21 cents to $11.47.