Calamp Corp. (CAMP) Tops Q4 EPS by 9c, Revenues Miss
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Calamp Corp. (NASDAQ: CAMP) reported Q4 EPS of $0.14, $0.09 better than the analyst estimate of $0.05. Revenue for the quarter came in at $81.9 million versus the consensus estimate of $83.68 million.
"Revenue from continuing operations in the fourth quarter increased sequentially and year-over-year due to robust customer demand in support of the 3G-to-4G upgrade cycle, particularly at our largest customer," commented Jeff Gardner, CalAmp's president and chief executive officer. "This growth was further supported by gradual improvements in certain markets and geographies combined with sustained demand for our SaaS solutions.
"More recently, we were very pleased to have reached an agreement with Spireon to sell the LoJack North America business. We are now strategically aligned and well positioned as we enter our first fiscal quarter with near-record customer backlog. We remain cautious as we work with our suppliers to closely manage supply chain shortages for certain components. We are focused on aggressively expanding our global SaaS solutions to drive margins, profitability and cash flow in the coming fiscal year and beyond."
First Quarter Fiscal 2022 Business Outlook
The Company is maintaining its policy of not providing quarterly guidance as visibility into product shipments remains uncertain due to global supply shortages and the lingering effects of the COVID-19 pandemic.
For earnings history and earnings-related data on Calamp Corp. (CAMP) click here.
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