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CalAmp: Fiscal 4Q Earnings Snapshot

IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Tuesday reported fiscal fourth-quarter net income of $11.3 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Irvine, California-based company said it had profit of 33 cents. Earnings, adjusted for one-time gains and costs, were 28 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The wireless communications company posted revenue of $84.4 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $89 million.

For the current quarter ending in June, CalAmp expects its per-share earnings to range from 6 cents to 12 cents.

The company said it expects revenue in the range of $84.5 million to $89.5 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $92.1 million.

CalAmp shares have climbed 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.58, a fall of 26% 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