IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Tuesday reported a fiscal fourth-quarter loss of $55.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Irvine, California-based company said it had a loss of $1.65. Earnings, adjusted for pretax expenses and asset impairment costs, were 3 cents per share.
The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 3 cents per share.
The wireless communications company posted revenue of $87.2 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $85.9 million.
For the year, the company reported a loss of $79.3 million, or $2.36 per share, swinging to a loss in the period. Revenue was reported as $366.1 million.
CalAmp shares have dropped 32% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.49, a fall of 54% in the last 12 months.