CalAmp Q2 Profit Tops Estimate

(RTTNews) - CalAmp Corp. (CAMP) reported net income for the second quarter of $3.3 million or $0.09 per share, compared to $2.8 million or $0.08 per for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $7.5 million or $0.21 per share, compared to $6.8 million or $0.19 per share in the same quarter last year.

Total revenue for the second quarter grew to $59.2 million from $58.8 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.19 per share on revenue of $59.06 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue of $61 million to $65 million, earnings of $0.08 to $0.12 per share and adjusted earnings of $0.21 to $0.25 per share. Analysts currently expect the company to earn $0.24 per share on revenue of $65.17 million for the third quarter.

For fiscal 2015, the company now forecasts revenues of $250 million to $255 million, earnings of $0.36 to $0.42 per share and adjusted earnings of $0.88 to $0.94 per share. Analysts currently expect the company to earn $0.91 per share on revenue of $253.01 million for the fiscal year 2015.