TASER International Inc. (NASDAQ: TASR) is no stranger to controversies. These days, police say it is concerned with Taser's latest consumer weapon, a $299 metallic pink, palm-sized C2 stun gun (no worries, it does come in three other cool colors including Black Pearl as well).

To recap, last time I wrote about Taser was in late February, when Taser reported fourth-quarter earnings that showed strong sales that boosted profits. Shares went up 5.5% consequently. Then Taser announced preliminary first quarter results that fell below analysts' expectations due to delayed orders. While investors punished the stock, taking it down 5%, some analysts remained positive on the company's base sales.

As for the C2, police say the consumer weapon is bound to fall into criminal hands and worry that officers will be injured by users who lack proper training. The Fraternal Order of Police, the largest law-enforcement labor union, has barred Taser from exhibiting the new C2 weapon or any other at its convention in August.

Seven states have already outlawed consumer use of stunning devices and three other states, including Texas are considering bills for bans or regulation of ownership.

Taser isn't worried. First, its main market is law-enforcement agencies rather than consumers. Second, there's always concern around a new product, the company says.

After a nice 5% run the past ten days, shares closed down 2.56% at $8.37 on Thursday. The stock remains of speculative nature. While many wrongful deaths lawsuits have been dismissed, lowering its risk, Taser does have rocky fundamentals. I still definitely like the long-term prospects, but it's only for those who can stomach it.

As a last comment, and in light of the Virginia Tech shooting, something eludes me here (probably because I'm Canadian). How is it that stunning devices seem to be more regulated than guns in the U.S.? Gun control - no, but stunning devices ban - yes?

Taser International Inc. (NASDAQ:TASR) today reported strong fourth quarter results, squeezing the short-sellers that have made the stun-gun maker one of their favorite targets.

Net income was $2.3 million, or 4 cents per share, compared with $179,126, or break even, a year earlier, the company said. Revenue soared 53 percent to $19.3 million. Analysts were expecting profit of 4 cents on revenue of $19.2 million, according to Thomson Financial My colleague Melly Alazraki gives a good overview of the history of this company's history here.

Taser has long been a favorite of short-sellers who hold about 11 million shares out of a float of 56.4 milllon, according to Bloomberg News. Shares of the Scottsdale, Ariz.-based company, which are down about 17 percent over the past year, were up about 4 percent in trading today.

The company continues to attract law enforcement customers and is moving into the consumer market and introduced the C2 "personal protector" at last month's consumer electronics show in Las Vegas which comes in vibrant colors including pink. It begins shipping in the second quarter.

Also check out some other earnings reports that we're following, and let us know what you're expecting.