Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that its expectations will be attained. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
With that it’s now my pleasure to turn the call over to CalAmp’s Chief Executive Officer, Rick Gold. Rick?
Thank you, Lasse. Good afternoon and thank you for joining us today to discuss CalAmp’s fiscal 2011 fourth quarter and full year results. I’ll begin with comments on our financial and operational highlights and I’ll then provide an update on our Satellite products business.Michael Burdiek will follow with an update on our Wireless DataCom business and Rick Vitelle will discuss additional details about our financial results, balance sheet, working capital management and cash flow. I’ll wrap up with our business outlook and guidance, along with some concluding remarks. This will be followed by a question-and-answer session. Looking at CalAmp’s operational highlights, we returned to profitability on a GAAP basis in the fourth quarter for the first time in four years. Our Wireless DataCom business continued its strong momentum with quarterly revenue increasing 48% year-over-year. This growth was driven by both our Mobile Resource Management and Wireless Networks products. As Michael will discuss in more detail in a few minutes, we’re seeing strong demand for our Mobile Resource Management or MRM products from local fleet management, vehicle finance, asset tracking, and stolen vehicle recovery vertical. Our Wireless Networks products also showed strong growth with contributions from projects in the public safety, railroad, and energy sectors. We’re making significant investments in R&D to expand and strengthen our footprint in Wireless Data and were encouraged by the traction over new products are getting in the market.