Growth Outlook Positive for Law Enforcement - Budgets Up, Demand is Up
DGLY is benefiting from recent positive trend noted in IBD yesterday. Demand for both its in-car video and more importantly its body camera are increasing at a fast rate. DGLY has its recently released FirstVU HD product on backlog with an estimated $1M in revenues this qtr. This is significant for its top and bottom line given its increase in Gross Margin reported in the prior two qtrs. and its higher profit margins associated with its new product line Hopefully, we will hear soon from the company. TASR has updated its investors recently on this increase in demand and subsequent orders. DGLY needs to do the same:
Taser Stock Jolts Up On Growing Law Enforcement Trend
Taser International (TASR) stock surged to a multiyear high amid new signs that more law enforcement agencies are making wearable cameras a regular part of a police officer's gear.
On Wednesday, the Greensboro Police Department in N.C. ordered additional Taser cameras. And on Tuesday LAPD Police Commission President Steve Soboroff said he's raised about $500,000 of the $1 million it will cost to buy lapel cameras for 1,500 LAPD officers, according to the Associated Press.
The LAPD expects to start working with Taser to field-test cameras in a couple of weeks, and is slated to report its findings in 90 days. By that time, AP says, Soboroff and Los Angeles City Councilman Mitchell Englander plan to buy at least 500 cameras for immediate use.
Potential sales for Taser's body-wear cameras got a boost last month when a U.S. district court judge ordered a pilot program for police to wear body cameras after ruling that New York City police discriminated against blacks and Hispanics.
Taser shares have surged since. The stock, which had been trading below 10 until mid-August, is up 60% from Aug. 13, when Taser said Fort Worth officials placed a sizable follow-up order for its Axon flex body cameras. Less |
