Shares for Taser International surged in heavy trading Thursday on news of a twofor-one stock split and the announcement of major orders from law-enforcement agencies in Texas and Kentucky.
The Scottsdale-based developer of "less-than-lethal" weapons declared a stock split, payable around Nov. 29 to shareholders of record as of Nov. 15.
In February, a three-for-one split was declared, followed up by a two-for-one split in April.
In Houston, the City Counc il vo t e d t o a p p rove a $4.7 million contract with Taser and GT Distributors to supply 3,700 Taser stun guns and accessories to the Houston Police Department.
An initial delivery valued at $3.7 million will take place in the fourth quarter, with the remaining $1 million earmarked for additional Taser equipment in 2005 and beyond.
The order represents the largest single law-enforcement deployment of Taser weaponry in the world, the company said.
In Kentucky, the Louisville Metro Police Department ordered an additional 550 units after placing an initial order for 550 Taser units and accessories in September.
The second order, valued at $475,000, provides the department will full deployment of stun guns for its patrol officers.
Taser’s stock, traded on the Nasdaq market, closed Thursday at $46.81 per share, up $5.47, or 13.23 percent, on volume of nearly 17.7 million shares.
