IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Thursday reported a loss of $14.4 million in its fiscal first quarter.
On a per-share basis, the Irvine, California-based company said it had a loss of 42 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, were 2 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The wireless communications company posted revenue of $80.2 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $78.1 million.
CalAmp shares have fallen 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.69, a fall of 23% in the last 12 months.