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CalAmp's CEO Discusses F4Q12 Results - Earnings Call Transcript

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 any forward-looking statement, 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 President and CEO Michael Burdiek. Go ahead Michael.

Michael Burdiek

Thank you Joe and good afternoon and thank you for joining us today to discuss CalAmp’s fiscal 2012 fourth quarter and full year results. I will begin today’s call with a review of our financial and operational highlights and Rick Vitelle will provide additional details about our financial results. I will wrap up with our business outlook and guidance for fiscal 2013 first quarter along with some concluding remarks. This will followed by question and answer session.

Fiscal 2012 was a year of solid revenue growth and long awaited return into profitability. In our wireless datacom segment our revenue increased 26% year-over-year as we experienced growth in nearly every vertical market application we serve. And although the year-over-year revenue growth in our satellite segment was a more modest 10% we completed the transformation of our satellite business to a variable cost operation and broaden its product base to improve gross margins and drive positive cash flow all of which contributed to our strong fourth quarter results.

Consolidated revenue for the fourth quarter was $37.6 million up 30% year-over-year with wireless datacom revenue increasing to $25.7 million and satellite revenue more than doubling to $12 million. At the bottom line fourth quarter per share earnings is $0.06 GAAP basis and $0.09 non-GAAP were at the high end of our original guidance.

Consolidated revenue for the fourth quarter was at the highest level since the first quarter of fiscal 2008. For fiscal 2012 as a whole, consolidated revenue grew 21% year-over-year to $138.7 million with wireless datacom revenues increasing to a record $99.1 million and satellite revenue growing to $39.6 million. We generated operating cash flow of almost $5 million in the fiscal 2012 fourth quarter and more than $12 million for the year as a whole.

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