IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Wednesday reported fiscal first-quarter net income of $8.5 million, after reporting a loss in the same period a year earlier.
The Irvine, California-based company said it had net income of 23 cents per share. Earnings, adjusted for one-time gains and costs, were 29 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The wireless communications company posted revenue of $94.9 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $93 million.
For the current quarter ending in September, CalAmp expects its per-share earnings to range from 25 cents to 31 cents.
The company said it expects revenue in the range of $93 million to $98 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $96 million.
CalAmp shares have dropped nearly 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.24, a rise of 10 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAMP at https://www.zacks.com/ap/CAMP