CalAmp's(CAMP Quote) second-quarter profit declined to roughly one-third of earnings in the year-ago quarter because of waning demand for direct broadcast satellite (DBS) products, the company said late Thursday.
After hours, investors recently sent the shares plummeting 14%, or $1.11, to $6.83. Shares closed the regular session up 10.4%. For the quarter ended Aug. 31, the wireless equipment maker earned $1.2 million, or 5 cents a share, compared with $3.7 million, or 16 cents a share, a year ago. Sales at CalAmp were $57.9 million, flat compared with the year-ago quarter. Analysts polled by Thomson First Call forecast second-quarter earnings of 7 cents a share on revenue of $56 million. The Oxnard, Calif.-based company said that consolidated gross margin for the quarter was 24% vs. 23% a year ago. CalAmp forecast third-quarter earnings of 4 cents to 8 cents a share on sales of $59 million to $65 million.- Loading Comments...
- Loading Comments...
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,406.96 | 1,109.30 | 2,197.85 | 33.31 |
Oil *
78.75
|
|
UP
136.49
|
UP
15.82
|
UP
29.97
|
DOWN
0.98
|
10 Yr
3.33%
SPDR Gold
111.63
|
|
+1.33%
|
+1.45%
|
+1.38%
|
-2.86%
|
Data delayed 20 minutes |














