Scottsdale, Ariz.-based TASER International (AXON 0.65%) shares were under pressure in early Wednesday trading, following release of the company's Q2 earnings results. This is despite numbers that, on the surface at least, do not look bad at all.
Reporting $0.08 per share in profits on $32.2 million in revenues, TASER exceeded analyst expectations on both fronts, growing its sales 14%, and its profits 33%, in comparison to the year-ago quarter, and expanding gross profit margins as well.
Company CEO Rick Smith noted that this second quarter "represents TASER's highest revenue in the past two and a half years, and the second highest quarterly revenue in TASER's history."
The company reported significant sales growth in its video segment, where revenues were up more than 47% year over year to $1.9 million (6% of total, firmwide sales). TASER noted that sales bookings for its new AXON flex "on-officer" camera are going especially well, with the numbers grouping this device's sales with revenue from TASER's EVIDENCE.com service growing more than 200% in Q2.
