TASER International Inc.’s TASR first-quarter 2015 earnings came in at 13 cents per share, beating the Zacks Consensus Estimate of 6 cents by a whopping 116.7%. This Scottsdale, AZ-based company’s reported number also increased from the year-ago figure of 6 cents per share.
The increase was mainly driven by strong contributions from its TASER Weapons segment, as well as continued growth and new wins in the AXON business.
Total Revenue
In the first quarter, the company booked revenues of $44.8 million, beating the Zacks Consensus Estimate of $40 million by 12%. The reported number also increased nearly 24% from the first quarter of 2014. The upside was attributable to higher sales of TASER X26P and TASER X2 smart weapon, partially offset by a decline in international sales.
Revenues from TASER’s Weapons segment increased 18.1% year over year to $38.3 million.
AXON and EVIDENCE.com revenues surged 73.1% to $6.4 million due to a 185.6% increase in service revenues. Segment bookings skyrocketed 288% to $22.9 million from the year-ago level of $5.9 million.
Highlights of the Quarter
The company’s gross margin expanded 530 basis points year over year to 66.7% in the quarter.
Sales, general and administrative expenses increased 6% year over year to $14.6 million in the reported quarter.
Financials
The company had cash and cash equivalents of $46.8 million as of Mar 31, 2015, compared with $48.4 million as of Dec 31, 2014.
Net cash from operating activities in the quarter was $13 million compared with $4.3 million a year ago.
Zacks Rank
TASER currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the space include Pointer Telocation Ltd. PNTR and SuperCom Ltd. SPCB, both holding a Zacks Rank #2 (Buy).
Defense Release
Lockheed Martin Corp. LMT posted first-quarter 2015 earnings of $2.74 per share, comfortably surpassing the Zacks Consensus Estimate of $2.48 by 10.5%. Earnings in the reported quarter however declined 4.5% from $2.87 per share a year ago, as lower fighter jet demand led to less revenue.
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