With that, I’ll turn it back over to Rick Smith.
Thanks Dan. Okay, so I'm sure everybody has seen by now this morning we reported Q2 sales were up $7 million or 33% year-over-year coming into $28.2 million. Perhaps even more importantly, if you look at the cash generation of the business we generated $9.7 million in cash from operations. Of course if you do the math on that we were generating cash at an annualized rate in the second quarter of $0.73 per share. Operating income came in at $6.1 million. To go back and touch on the cash as well, we can point out the obvious, that was inclusive across the entire business, if you look at the core ECD business, which has been funding our investments in the new video business, obviously that number is significantly higher in the core business if look at on a standalone basis.
Margins improved year-over-year although they declined slightly sequentially, came in at 58.5% compared to 57.8% last year and course if you look in our ECD business 63.7% gross margin, a number we're very proud of. Again we break this out so that it helps us as a management team to use investors to monitor how well we're managing our core business so (inaudible) by the investments that we're making in the new business.Revenues in the ECD business increased 8% sequentially from $24.8 million to $26.9 million and in the core ECD business operating income was $8.6 million. So we're running at 32% operating income in the core ECD business. Revenues in the video business increased 47% sequentially albeit from a small base of $884,000 in the first quarter to $1.3 million in the second quarter. That growth is really driven primarily by TASER CAM and the new TASER CAM HD as the AXON Flex didn’t ship until late in the quarter.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV