CalAmp Results Surpass Estimates; Tightens FY Guidance

(RTTNews) - CalAmp Corp (CAMP), a provider of wireless communications solutions, on Thursday reported second-quarter net earnings of $3.5 million or $0.10 per share compared with $3.3 million or $0.09 per share last year.

Excluding items, adjusted earnings for the quarter were $0.27 per share compared with $0.21 per share a year ago.

Revenues for the quarter were up 18% at $69.8 million compared with $59.2 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.26 per share on revenues of $68 million for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects adjusted earnings of $0.26 to $0.30 per share on revenues of $71 million to $76 million. Analysts expect earnings of $0.28 per share on revenues of $73.1 million.

For the full year 2016, the company now expects revenues of $281 million to $289 million, from prior guidance of $280 million to $290 million. Analysts expect revenues of $282.8 million.