CalAmp: Fiscal 2Q Earnings Snapshot
IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Thursday reported a fiscal second-quarter loss of $854,000, after reporting a profit in the same period a year earlier.
The Irvine, California-based company said it had a loss of 2 cents per share. Earnings, adjusted for one-time gains and costs, came to 31 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The wireless communications company posted revenue of $96 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $95.3 million.
For the current quarter ending in December, CalAmp expects its per-share earnings to range from 29 cents to 35 cents.
The company said it expects revenue in the range of $94 million to $99 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $99.1 million.
CalAmp shares have climbed almost 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.27, an increase of almost 8 percent in the last 12 months.