SCOTTSDALE, Ariz., Jan. 6 /PRNewswire-FirstCall/ -- TASER International,
Inc. (Nasdaq: TASR), a market leader in advanced non-lethal devices, today
announced that it is cooperating with an informal inquiry letter from the U.S.
Securities and Exchange Commission (SEC).
We are compiling information to assist the SEC in two areas: Company
statements regarding the safety of TASER(R) products and a recent order
received from Davidson's, Inc.
"We are confident our statements are supported by the safety studies of
our products," said Rick Smith, CEO of TASER International, Inc. "We are in
the process of compiling the information requested by the SEC and look forward
to working with them as we have with other independent entities interested in
the safety of TASER devices such as the United States Department of Defense,
the Home Office of the United Kingdom and other governmental agencies in the
United States and abroad. Our public statements about the safety of TASER
devices are consistent with those of medical experts that we have consulted,
or in the case of the Department of Defense, were reviewed and approved prior
to release by the very agencies that have commissioned the research."
"Davidson's Inc. has been a distributor for TASER International since
1999. Davidson's most recent order was received and shipped in the normal
course of business in the fourth quarter of 2004. It followed a 60-day test
market for our new X26C Citizens' Defense System that included two of
Davidson's firearms dealers. As a result, we were pleased to secure
Davidson's as the exclusive distributor for this market segment with an
agreement providing Davidson's the exclusive distribution rights to Federal
Firearms License (FFL) dealers. Davidson's ordered an initial 1,000 TASER
X26C systems, costing less than one million dollars, for distribution to their
dealers with no right to return the product. This order was announced
together with an order for other law enforcement products which brought the
total order to $1.5 million," continued Smith.
The conclusion of the informal inquiry letter from the SEC to TASER
International specifies, "This inquiry is non-public and should not be
construed as an indication by the Commission or its staff that any violation
of law has occurred, nor should it be considered a reflection upon any person,
entity or security."
About TASER International, Inc.
TASER International, Inc. provides advanced non-lethal devices for use in
the law enforcement, military, private security and personal defense markets.
TASER devices use proprietary technology to safely incapacitate dangerous,
combative or high-risk subjects who pose a risk to law enforcement officers,
innocent citizens or themselves. TASER technology saves lives every day, and
the use of TASER devices dramatically reduces injury rates for police officers
and suspects and reduces litigation costs. TASER technology is currently in
testing or deployment at over 6,000 law enforcement and correctional agencies
in the U.S. and abroad. For more information on TASER life-saving technology,
please call TASER International at (480) 444-4000 or visit our website at
Note to Investors
This press release contains forward-looking information within the meaning
of Section 27A of the Securities Act of the 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the safe harbor created by
those sections. The forward-looking information is based upon current
information and expectations regarding TASER International. These estimates
and statements speak only as of the date on which they are made, are not
guarantees of future performance, and involve certain risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual outcomes and
results could materially differ from what is expressed, implied, or forecasted
in such forward-looking statements.
TASER International assumes no obligation to update the information
contained in this press release. TASER International's future results may be
impacted by risks associated with rapid technological change, new product
introductions, new technological developments and implementations, execution
issues associated with new technology, ramping manufacturing production to
meet demand, litigation including lawsuits resulting from alleged product
related injuries, media publicity concerning allegations of deaths occurring
after use of the TASER device and the negative impact this could have on
sales, product quality, implementation of manufacturing automation, potential
fluctuations in quarterly operating results, competition, financial and
budgetary constraints of prospects and customers, international order delays,
dependence upon sole and limited source suppliers, negative reports concerning
TASER device uses, governmental inquiries and investigations, fluctuations in
component pricing, government regulations, variation among law enforcement
agencies with their TASER product experience, TASER device tests and reports,
dependence upon key employees, and its ability to retain employees. TASER
International's future results may also be impacted by other risk factors
listed from time to time in its SEC filings, including, but not limited to,
the Company's Form 10-QSBs and its Annual Report on Form 10-KSB.
For further information contact Steve Tuttle, Vice President of
Communications, at Press@TASER.com. Visit the company's web-site at
www.TASER.com for facts and video.
SOURCE TASER International, Inc.
CONTACT: Steve Tuttle, Vice President of Communications, Press@TASER.com,
or Media ONLY Hotline, +1-480-444-4000/
Web site: http://www.taser.com