CalAmp Q1 Results Top Estimates; Guides Q2 Below Consensus

(RTTNews) - CalAmp Corp. (CAMP) reported first quarter net income of $2.7 million or $0.07 per share, compared to $1.7 million or $0.05 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $6.9 million or $0.19 per share, compared to $5.6 million or $0.16 per share in the prior year quarter.

Consolidated first quarter revenue rose 10% to $58.98 million from $53.75 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.18 per share on revenue of $57.98 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts revenue of $57 million to $61 million, earnings of $0.05 to $0.09 per share and adjusted earnings of $0.17 to $0.21 per share. Analysts currently expect the company to earn $0.22 per share on revenue of $62.50 million for the second quarter.