Tasers sold: 775,000 to 17,800 agencies in 107 countries. Body cameras: 1,200 agencies using 30,000 body cameras. London pilot ends in April.
You wish. He bought shares of Phillips Petroleum when oil was at $150 a barrel. He bought into Salomon Brothers and Northwest Airlines. And now he's down big with his shares of IBM, whose management now finally admitted recently they are not going to meet their 2015 EPS target. He's just like other investors, but scored big in the 1960's and 1970's. Berkshire hasn't been doing too well lately. Read his letter.
Let's not forget doctors pushing specific medicines and they own stock of the drug manufacturer, actors endorsing insurance products, or athletes selling exercise equipment in late-night infomercials. The list goes on. AP thinks people will listen to those who haven't used the product?
Duplicating this somewhat as my first message didn't get posted. Yes, a nice turnout. I'd say more than 100 in attendance. Besides retired police chiefs, a police accountability lawyer and a university professor also spoke. While cameras can reduce civilian complaints and use of force by police, they can also be used to instill best practices in police by showing good/bad behavior videos when interacting with the public. Good information was provided.
Using preliminary data supplied at TASR's recent conference call, the inventory adjustment amounted to $0.04 EPS in 4Q14. Thus, if TASR did not write down inventory, its reported EPS for 4Q14 would have been $0.13, or two cents ABOVE consensus. Companies take their hits in their fiscal 4Q to clean up their balance sheets to prepare for the new year. Its operating margin declined 50 basis points in 2014 to 19.8%, its tax rate jumped to 38.4% and its cash conversion cycle increased 17 days to 104. The best thing management can do is issue debt while interest rates are low. The company's debt/capitalization is less than 1%. They should do a little leveraging while rates are low. That way they can boost the 16.8% ROE a little bit. Some leverage is a good thing.
Mr. Smith was doing the ethical thing. First, he only talked about sales, which is a top line item, not earnings, which is a bottom line item on the income statement. Second, the SEC would have been all over Mr. Smith if he pre-announced.. Third, the consensus EPS estimate by Wall Street is not gospel but the average of their guesstimates of what the company will do. The fiscal fourth quarter results of any company is a SWAG as that is where they put all their accounting adjustments for the year if they didn't do it in prior unaudited quarters in that year. What you should be doing is looking at accounts receivable, which indicates sales in the next few quarters. That was up 36% from the prior year. Flex cameras units sold in 2014 were up 105% and body cameras were up 600%. They're doing okay.
And 775,000 tasers used by 17,800 agencies in 107 countries is a waste of time. What TASR had developed is relationships with these organizations where they will look at new products from a proven supplier with a less skeptical view than toward someone brand new.
Fourth-quarter results are a flip of the coin. Who knows who decided within TASR to take a $2.1M write-off of outdated inventory. It could have been the CFO. And the Wall Street consensus is not gospel. They are flipping a coin too.
Now the LAPD is going to show the public just how stupid some people are (just like Jay Leno divulging stupid 911 calls). Only this time their friends and neighbors will see their face and know who's looking stupid. That will make them think twice when they interact with the police. A great prevention/deterrent tool!
If so, a good link-up. The only thing LMT doesn't make for the defense industry is subs and tanks. Defense industry stocks have been on a tear of late.
The California Highway Patrol has a similar problem storing all those discs from three cameras per vehicle.
775,000 tasers used by 17,800 agencies in 107 countries is not illusive. Those relationships as a proven supplier make it far easier to cross sell than for someone new coming through the door. As for shares, they increased a mere 0.6% YOY (fully diluted). And he boosted R&D to 9% of sales to remain competitive. You gotta spend money to make money.
Cameras can help, but the mindset of the police departments has to change too. Why couldn't the Ferguson, MO PD (or any PD for that matter) study their own data that the DOJ reviewed and adapt accordingly? The hubris in the PDs is impressive. What surprised police chiefs about the Rialto, CA study was the size of the decline in the use of force by police, not the greater reduction in civilian complaints.
If you took an accounting course you would know that orders (bookings) are not reportable sales. And sales of these cameras are spread over quarters, not weeks. The LAPD order is scheduled to be completed by the summer of 2016. You don't manufacture 7,000 cameras in a few weeks.
In California, if you are in a public area, you can video. People are doing it with their smartphones; the police can do it with their cameras too. This applies in other states too, but I'm not sure it applies to all of them.