CalAmp Profit Tops Estimate; Stock Down On Weak Q4 Guidance

(RTTNews) - CalAmp Corp (CAMP), a provider of wireless products, Tuesday reported third-quarter net earnings of $4 million or $0.11 per share compared with $4.2 million or $0.12 per share last year.

Excluding items, adjusted earnings for the quarter were $0.25 per share compared with $0.23 per share a year ago.

Revenues for the quarter were $63.23 million compared with $63.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.23 per share on revenues of $63.26 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted earnings of $0.26 to $0.30 per share on revenues of $66 million to $70 million. Analysts expect earnings of $0.28 per share on revenues of $71.1 million.

CAMP closed Tuesday at $19.70, down $0.05 or 0.25%, on a volume of 1.2 million shares on the Nasdaq. In after hours, the stock dropped $1.13 or 5.74% at $18.57.