OXNARD, CA--(Marketwired - Apr 14, 2014) - CalAmp (
"Our new monitoring and tracking solution with integrated CDMA technology provides vehicle finance lenders and Buy-Here-Pay-Here (BHPH) dealers communications options that enhance reliability and connectivity with broad wireless coverage," said Mike Zachan, senior vice president and general manager of CalAmp's Wireless Networks business. "With technology changes underway in the cellular sector, we're committed to reducing risk for our vehicle finance customers, and these CDMA solutions assure long-term, real-time visibility into the vehicles that secure their loan portfolios."
CalAmp now provides vehicle finance companies a seamless choice of either CDMA or GSM/GPRS solutions. For customers wishing to continue using a GSM/GPRS solution, CalAmp has bolstered its airtime agreements with new and existing carrier partners nationwide and will continue to offer that service for the foreseeable future. Since 2G GSM/GPRS coverage is expected to decrease over the next several years as wireless spectrum is repurposed for more efficient data network technologies, CalAmp believes its CDMA solution will become an increasingly popular alternative.
The latest CalAmp location and messaging devices, the LMU-720™ and LMU-400™ feature CDMA wireless data communications technology. The LMU-720 offers basic vehicle tracking capabilities, with an optional external starter-disable relay. Alternatively, the higher-tier LMU-400 features an integrated starter-disable relay, as well as an audible payment reminder feature and back-up battery capability for added tamper resistance.
Whether utilizing legacy 2G GSM/GPRS devices or one of the new CDMA-based LMU products and corresponding wireless services, CalAmp's industry-leading LenderOutlook application provides the same simple and high-value user-experience that customers have come to expect. Coupled with applications like MobileInstall™ and MobileLocate™, LenderOutlook is the industry's benchmark solution for comprehensive, reliable and easy-to-use tracking and asset protection.
"As the average cost of vehicles and associated loan terms increase, our new CDMA offerings allow vehicle finance companies and BHPH dealers greater lending flexibility, including the potential for higher value loans -- all of which are facilitated by the ability to reliably and securely monitor, track and manage the vehicles in their portfolio," Zachan added.
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. The statements in this press release regarding wireless coverage and reliability, new technologies, products and services, changes in commercially adopted wireless transmission standards and technologies including 3G and 4G technologies, 2G GSM/GPRS declination, continued customer and end user acceptance of CalAmp's current product and service offerings, as well as other statements that are not historical facts, are forward-looking statements. The words "estimate," "project," "forecast," intend," "expect," "believe," "target," and similar expressions are intended to identify forward-looking statements. Forward-looking statements are estimates and projections reflecting management's judgment based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. With respect to these forward-looking statements, management has made assumptions regarding, among other things, development and deployment of new technologies; efficiencies of multimode technologies; customer and network usage; service, coverage, and quality; availability of devices; ability to secure airtime from carriers; timing of various events and the economic environment. CalAmp believes these forward-looking statements are reasonable; however, you should not place undue reliance on forward-looking statements, which are based on current expectations and speak only as of the date of this press release. CalAmp is not obligated to publicly release any revisions to forward-looking statements to reflect events after the date of this press release. CalAmp provides a detailed discussion of risk factors in its periodic SEC filings, including its annual report on Form 10-K for the year ended February 28, 2013.
CalAmp®, the arc logo, LenderOutlook, MobileInstall, MobileLocate and LMU product names are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.