First we will focus our resources on those technologies, products and markets that offer the greatest revenue growth and profit potential and pare back investment in areas with limited prospects. Second, we will look for opportunities to move up the value chain to offer more services and integrated solutions to our customers. Third, we will work to leverage our domestic leadership position in attractive wireless datacom markets to exploit burgeoning international opportunities particularly in EMEA and Latin America.
Fourth, we will develop and leverage strategic partnerships and alliances to accelerate growth of our wireless datacom businesses globally. And finally, we will remain vigilant in managing our cost structure and working capital to maximize profitability and cash flow. Challenges remain but we have an outstanding management team and dedicated employees committed to success. I couldn’t be more confident in saying that the prospects for the company are very bright.
Now turning to CalAmp’s operational highlights, we’re off to a strong start in fiscal 2012. During the first quarter growth from both our wireless datacom and satellite businesses resulted in a 31% year over year increase in consolidated revenues and profitability improved over the previous quarter. We continued to see strong demand for our mobile resource management or MRM products and services from fleet management, vehicle finance, asset tracking and stolen vehicle recovery markets.
In addition, our wireless networks products performed well with significant contribution from an important project in the railroad sector that was initiated at the beginning of last fiscal year. And finally, an uptick in DVS demand resulted in first quarter satellite revenues more than doubling sequentially and increasing year over year.Read the rest of this transcript for free on seekingalpha.com