CalAmp Profit In Line With Estimates

(RTTNews) - CalAmp Corp (CAMP), a provider of wireless communications solutions, on Tuesday reported first-quarter net earnings of $4 million or $0.11 per share compared with $2.7 million or $0.07 per share last year.

Excluding items, adjusted earnings for the quarter were $0.26 per share compared with $0.19 per share a year ago.

Revenues for the quarter were $65.4 million compared with $59 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.26 per share on revenues of $65.4 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company expects adjusted earnings of $0.24 to $0.28 per share on revenues of $66 million to $70 million. Analysts expect earnings of $0.26 per share on revenues of $68 million.

For the full year 2016, the company expects revenues of $280 million to $290 million, while analysts expect $282.8 million.