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CalAmp: Fiscal 3Q Earnings Snapshot

IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Thursday reported a loss of $7.4 million in its fiscal third quarter.

The Irvine, California-based company said it had a loss of 22 cents per share. Earnings, adjusted for one-time gains and costs, came to 15 cents per share.

The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 15 cents per share.

The wireless communications company posted revenue of $96.6 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $95.1 million.

For the current quarter ending in February, CalAmp expects its per-share earnings to range from 10 cents to 16 cents.

The company said it expects revenue in the range of $95 million to $100 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $97.1 million.

CalAmp shares have dropped 8.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.90, a fall of slightly more than 8% 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