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CalAmp: Fiscal Q4 Earnings Snapshot
By AP News - Apr 27, 2023, 05:21 PM ET
Last Updated - Jun 22, 2023, 02:39 AM EDT
IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — CalAmp Corp. (CAMP) on Thursday reported a loss of $8.1 million in its fiscal fourth quarter.
On a per-share basis, the Irvine, California-based company said it had a loss of 22 cents. Earnings, adjusted for one-time gains and costs, were 6 cents per share.
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The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The wireless communications company posted revenue of $78.5 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $78.4 million.
For the year, the company reported that its loss widened to $32.5 million, or 90 cents per share. Revenue was reported as $294.9 million.
For the current quarter ending in May, CalAmp said it expects revenue in the range of $72 million to $78 million.
In the final minutes of trading on Thursday, the company's shares hit $2.37. A year ago, they were trading at $5.27.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CAMP">Zacks stock report on CAMP at https://www.zacks.com/ap/CAMP
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