Originally published at www.seclive.com
Elecsys Corporation (NASDAQ:ESYS) announced its financial results for the second fiscal quarter of fiscal 2014, reporting a revenue increase of 19%. The machine-to-machine communications company posted revenues of $7.33M, up 19% from $6.14M this quarter last year. Proprietary products and services earned $3.74M in revenue and the company's backlog jumped 46%, or $3.93M, to $12.42M. The backlog increase is attributed to original equipment manufacturer orders as well as a jump in proprietary backlog from a $1.25M order from the Al Rushaid Group in Saudi Arabia. Earnings were $653K and $0.17 per share, an increase from $413K and $0.11 per share a year ago. Gross margins increased 2% from 39% due to higher sales volumes. CEO Karl Gemperli remarked that the company is very pleased with its performance and continues to invest heavily in its growth to propel it over the long-term.
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