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  • Barrons.com28 days ago

    CalAmp Rising: IoT Company Beats FYQ1 Earnings on LoJack Acquisition

    Shares of the Internet of Things company CalAmp (CAMP) are up 21 cents, or 1.5%, at $14.30, in late trading, after the company this afternoon reported fiscal Q1 revenue and profit that topped analysts’ expectations, boosted by an acquisition, projected results this quarter below consensus, and said its board approved a new $25 million share buyback . A good chunk of the company’s reported revenue, $27.9 million, was from its $134 million acquisition of LoJack, makers of the infamous car-theft alarm system of that name, which closed back in late March. CEO Michael Burdiek noted "key business initiatives that set the foundation for long-term revenue growth, margin expansion and earnings leverage,” and said the company was "very pleased that we are seeing early success with LoJack, which was acquired in mid-March, and was a strong contributor in the quarter on multiple fronts, from revenue growth to operating leverage." "The integration of LoJack is going smoothly and we are realizing revenue synergies earlier than expected,” he said.

  • American City Business Journalslast month

    Report: Florida No. 3 in country for auto theft

    Jacksonville is ranked No. 116 out of 380 cities for top cities prone to Auto Theft, says the National Insurance Crime Bureau and research from LoJack, a leader in vehicle theft recovery. Jacksonville ranks highly, with more than 3,000 thefts last year, but the state of Florida smashes the city itself: It’s No. 3 for stolen and recovered vehicles, behind California and Texas, according to LoJack’s annual report using recovery data from 2015. It makes sense: Burglars follow people, said Patrick Clancy, LoJack’s senior vice president for Law Enforcement.