Taser sees a 14% increase in sales to $32.2 million

Scottsdale stun-gun maker Taser International Inc. on Wednesday reported a 14 percent increase in second-quarter sales to $32.2 million with law-enforcement agencies upgrading to the company’s new X26P Smart Weapon.

Net income was up 29 percent from a year earlier to $4.5 million for the quarter that ended June 30. Diluted earnings per share were 8 cents, up from 6 cents in 2012.

Taser’s stock price closed at $8.88, down 5 cents from its previous close.

taser.com

Microchip’s earnings dip 0.2% but sales rise 31%

Chandler-based Microchip Technology Inc. on Wednesday reported first-quarter earnings of $78.6 million, down 0.2 percent from a year earlier.

Sales of $462.8 million were up 31 percent year-over-year and exceeded the high end of the company’s upwardly revised guidance of June 3.

Diluted earnings per share of 37 cents were down from 39 cents a year ago.

Microchip also announced a quarterly cash dividend on its common stock of 35.4 cents per share.

Microchip’s stock price closed at $39.74, up 49 cents from its previous close.

Microchip makes microcontrollers for home appliances and other products.

microchip.com

Company agrees to pay $104,000 for violations

pensated for time spent loading company trucks or traveling to work sites, even though other employees at Flooring Demolition Specialists were paid for such duties.

“Protecting all covered employees, and leveling the playing field for employers, is one of the FLSA’s fundamental principles. This employer benefited from an unfair advantage over competitors by not paying overtime to a group of employees” said Eric Murray, director of the Wage and Hour Division’s Phoenix district office in a statement.

The company also owed $6,000 in civil penalties because the violations were deemed willful. As part of a settlement agreement, the company must post notices of workers’ rights in prominent locations in English and Spanish and every employee must be given a copy of the notice.

dol.gov

LifeLock’s income down 8%; revenue surges 32%

Tempe-based LifeLock on Wednesday reported secondquarter adjusted net income of $3.4 million, down 8 percent from the same period last year.

LifeLock had a record quarterly revenue of $89.5 million, up 32 percent from a year ago.

Diluted earnings per share were 3 cents, down from 5 cents.

LifeLock stock closed at $11.37, up 19 cents from Tuesday’s close. Lifelock provides identity-theft monitoring services.

lifelock.com

Wells Fargo exec chosen to be charity-group chair