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CalAmp: Fiscal 2Q Earnings Snapshot

·1 min read

IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Thursday reported a loss of $9.5 million in its fiscal second quarter.

On a per-share basis, the Irvine, California-based company said it had a loss of 28 cents. Losses, adjusted for non-recurring costs and stock option expense, were 3 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.

The wireless communications company posted revenue of $83.5 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $76.7 million.

CalAmp shares have decreased 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.89, a fall of 28% in the last 12 months.

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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