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Earnings Review and Free Research Report: CalAmp Beat Top- and Bottom-Line Expectations

LONDON, UK / ACCESSWIRE / October 11, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on CalAmp Corp. (NASDAQ: CAMP), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=CAMP, following the Company's announcement of its financial results on August 31, 2017, for the second quarter of the fiscal year 2018 (Q2 FY18). The Irvine, California-based provider of Internet of Things enablement solutions was awarded the largest SaaS contract in the Company's history during the reported quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

CalAmp reported revenues of $89.77 million for Q2 FY18 compared to $90.48 million for Q2 FY17; thereby reporting a less than 0.8% downside change in the revenue figures. However, the Company beat Wall Street's estimates of 88.7 million.

CalAmp's gross profit amounted to $36.84 million for Q2 FY18 compared to $37.61 million in Q2 FY17. The Company generated operating income of $3.13 million in Q2 FY18 compared to $3.91 million for Q2 FY17; thereby reporting a slightly negative change in figures.

CalAmp posted net income of $12.32 million in Q2 FY18 compared to $0.52 million in Q2 FY17. The Company's diluted earnings per share (EPS) stood at $0.34 for the reported quarter compared to $0.01 for the year-ago same period. Earnings, adjusted for one-time gains and costs, came in at $0.27 per share, beating Wall Street's expectations of $0.26 per share.

Segment Details

CalAmp has two business segments, namely: (i) Telematics Systems and (ii) Software and Subscription Service. The Telematics Systems segment reported revenues of $74.10 million for Q2 FY18 compared to $68.85 million for Q2 FY17. The Company's MRM Telematics revenue escalated to a record high of 29% to $38.1 million on a y-o-y basis, and was a key growth driver for the Telematics Systems segment.

The Software and Subscription Services segment, on the other hand, posted revenues of $15.70 million for Q2 FY18 compared to $14.96 million for Q2 FY17. A prior segment of the Company, The Satellite Business, terminated its operations on August 31, 2016.

Cash Matters

CalAmp's cash flow from operating activities amounted to $36.01 million for Q2 FY18 compared to $19.32 million for Q2 FY17. The Company reported strong operating cash flows, since CalAmp received net proceeds worth $15 million in June 2017 from a legal settlement with Company's subsidiary, Lojack's former supplier. The Company reported cash outflow of $1.78 million for Q2 FY18 compared to $54.87 million for Q2 FY17.

Outlook

CalAmp recently started shipments with new heavy equipment, OEM, which would contribute about $2 million to the revenue of FY18. The Company is aiming revenues to be in the range of $89 million - $94 million for the third quarter of the current fiscal year. CalAmp is estimating net income in the band of $0.28 to $0.34 per share and adjusted net income in the range of $0.27 to $0.33 per share.

Stock Performance

CalAmp's share price finished yesterday's trading session at $23.85, slightly up 0.21%. A total volume of 244.36 thousand shares have exchanged hands. The Company's stock price skyrocketed 22.37% in the last three months, 47.31% in the past six months, and 69.03% in the previous twelve months. Additionally, the stock soared 64.48% since the start of the year. Shares of the Company have a PE ratio of 238.50 and currently have a market cap of $823.30 million.

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SOURCE: Pro-Trader Daily