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TASER International Inc.’s second-quarter 2016 earnings came in at 7 cents per share, beating the Zacks Consensus Estimate of 3 cents by 133.3%. This Scottsdale, AZ-based company’s earnings were however down 36.4% year over year. The downside was mainly due to higher operating expenses.
In the quarter, the company generated revenues of $58.8 million, beating the Zacks Consensus Estimate of $53.7 million by 9.5%. The reported number also increased 26% year over year. The upside was attributable to higher sales from TASER Weapon as well as Axon segments.
Revenues from the TASER Weapons segment jumped 20% year over year to $45.5 million.
AXON and EVIDENCE.com revenues surged 49% to $13.2 million. Segment bookings increased 38.4% to $72 million as of Jun 30, 2016, from $52.1 million in the preceding quarter. Bookings also surged 135.2% year over year in the quarter.
Highlights of the Quarter
The company’s gross margin contracted 300 basis points year over year to 63% from 66% a year ago. This mainly reflects a mix shift to Axon segment hardware revenue.
Sales, general and administrative expenses increased 58.4% year over year to $24.4 million.
Total operating expenses increased 45.6% year over year to $31.1 million.
Financials
The company had cash and cash equivalents of $37.3 million as of Jun 30, 2016, compared with $59.5 million as of Dec 31, 2015. Net cash from operating activities was $3.2 million in the quarter as against cash used in operating activities of $2 million a year ago. Free cash flow was $2.5 million versus free cash outflow of $13.2 million a year ago.
Peer Releases
Net 1 Ueps Technologies Inc. will release fourth-quarter fiscal 2016 results on Aug 25, 2016.
Pointer Telocation Ltd. will release second-quarter 2016 results on Aug 11, 2016.
Digimarc Corporation (DMRC - Free Report) reported a second-quarter 2016 loss of 62 cents per share, narrower than the Zacks Consensus Estimate of 63 cents.
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TASER (TASR) Q2 Earnings Beat Estimates, Bookings Surge
TASER International Inc.’s second-quarter 2016 earnings came in at 7 cents per share, beating the Zacks Consensus Estimate of 3 cents by 133.3%. This Scottsdale, AZ-based company’s earnings were however down 36.4% year over year. The downside was mainly due to higher operating expenses.
Total Revenue
In the quarter, the company generated revenues of $58.8 million, beating the Zacks Consensus Estimate of $53.7 million by 9.5%. The reported number also increased 26% year over year. The upside was attributable to higher sales from TASER Weapon as well as Axon segments.
Revenues from the TASER Weapons segment jumped 20% year over year to $45.5 million.
AXON and EVIDENCE.com revenues surged 49% to $13.2 million. Segment bookings increased 38.4% to $72 million as of Jun 30, 2016, from $52.1 million in the preceding quarter. Bookings also surged 135.2% year over year in the quarter.
Highlights of the Quarter
The company’s gross margin contracted 300 basis points year over year to 63% from 66% a year ago. This mainly reflects a mix shift to Axon segment hardware revenue.
Sales, general and administrative expenses increased 58.4% year over year to $24.4 million.
Total operating expenses increased 45.6% year over year to $31.1 million.
Financials
The company had cash and cash equivalents of $37.3 million as of Jun 30, 2016, compared with $59.5 million as of Dec 31, 2015. Net cash from operating activities was $3.2 million in the quarter as against cash used in operating activities of $2 million a year ago. Free cash flow was $2.5 million versus free cash outflow of $13.2 million a year ago.
Peer Releases
Net 1 Ueps Technologies Inc. will release fourth-quarter fiscal 2016 results on Aug 25, 2016.
Pointer Telocation Ltd. will release second-quarter 2016 results on Aug 11, 2016.
Digimarc Corporation (DMRC - Free Report) reported a second-quarter 2016 loss of 62 cents per share, narrower than the Zacks Consensus Estimate of 63 cents.
Zacks Rank
TASER currently carries a Zacks Rank #3 (Hold).
TASER INTL INC Price, Consensus and EPS Surprise
TASER INTL INC Price, Consensus and EPS Surprise | TASER INTL INC Quote
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