CalAmp Corp (CAMP) Reports a Q2 Loss, CEO Comments on Outlook
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CalAmp Corp. (Nasdaq: CAMP) reports a Q2 adjusted loss of $0.02 compared to a loss of $0.08 for the same period last year.
Total revenue for the fiscal 2009 second quarter was $23.3 million compared to $32.7 million for the second quarter of fiscal 2008. The reduction in revenues was due primarily to significantly lower sales of the Company’s satellite products.
Commenting on the Company’s business outlook, Mr. Gold said, “Our third quarter outlook remains cautious due in part to continued uncertainty surrounding the U.S. economy, which may impact purchase decisions by key customers. That said, we expect sales of our satellite products to increase materially compared to the second quarter as unit volumes shipped to our historically largest DBS customer continue to ramp higher. Based on our current forecast, we believe fiscal 2009 third quarter consolidated revenues will be in the range of $26 to $30 million, with a GAAP basis net loss in the range of $0.03 to $0.07 per diluted share. The Adjusted Basis (non-GAAP) results of operations for the third quarter, which exclude amortization of intangible assets and stock-based compensation expense net of tax, are expected to be in the range of a $0.03 loss to $0.01 income per diluted share.”
CalAmp Corp. (CalAmp) is a provider of wireless communications solutions that enable anytime/anywhere access. [SM]
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