U.S. Markets open in 37 mins

CalAmp: Fiscal 4Q Earnings Snapshot

IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Thursday reported a loss of $4.8 million in its fiscal fourth quarter.

The Irvine, California-based company said it had a loss of 13 cents per share. Earnings, adjusted for one-time gains and costs, came to 30 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The wireless communications company posted revenue of $94.4 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $93.6 million.

For the year, the company reported net income of $16.6 million, or 46 cents per share, swinging to a profit in the period. Revenue was reported as $365.9 million.

For the current quarter ending in June, CalAmp expects its per-share earnings to range from 26 cents to 32 cents.

The company said it expects revenue in the range of $91 million to $95 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $94.5 million.

CalAmp shares have climbed 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.18, a rise of 28 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