Taser Delays Report, Citing Accounting Errors
From the Associated Press
Stun-gun maker Taser International Inc. said it would delay filing its first-quarter financial report after finding that it used incorrect methods to calculate manufacturing expenses.
Investors responded by sending shares of the Scottsdale, Ariz.-based company 70 cents lower, or nearly 7%, to $9.44.
Taser also said in a filing with regulators that it found a clerical error that resulted in an overstatement of inventory and income. The company, which manufactures stun guns for military, law enforcement and civilian users, said the errors occurred in earlier periods as well.
