UPDATE 1-Taser posts wider Q1 loss, shares fall

Fri Apr 23, 2010 10:11am EDT

* Q1 loss $492,605 vs loss $467,759 a year ago

* Sales fall 3 pct

* Shares down about 7 pct

April 23 (Reuters) - Taser International Inc (TASR.O) posted a wider quarterly loss, hurt by lower margins, sending the stun-gun maker's shares down as much as 7 percent.

Gross margins fell to 56.6 percent in the first quarter, compared with 59.5 percent last year.

The decline was due to lower yields on new product lines and some product rework costs, the company said.

For the first quarter, the company reported a loss of $492,605, or 1 cent a share, compared with a loss of $467,759, or 1 cent a share, a year ago.

Sales fell 3 percent to $23.8 million.

Analysts on average had expected a loss of 1 cent a share, before special items, on revenue of $23 million according to Thomson Reuters I/B/E/S.

Shares of the Scottsdale, Arizona-based company were trading down 39 cents at $5.22 Friday morning on Nasdaq. (Reporting by Divya Sharma in Bangalore; Editing by Maju Samuel) ((divya.sharma@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: divya.sharma.reuters.com@reuters.net))

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