Skip to main content

NEW YORK (TheStreet) -- Shares of CalAmp Corp. (CAMP) - Get CalAmp Corp. Report are down by 14.53% to $14.90 in mid-morning trading on Wednesday after the tech company reported its fiscal fourth-quarter financial results, with revenue coming in below analysts' expectations.

After the market closed on Tuesday, CalAmp posted adjusted earnings of 32 cents per share on revenue of $70.8 million for the three month period ended in February.

Analysts surveyed by Thomson Reuters had been expecting earnings of 32 cents per share on revenue of $71.05 million for the 2016 fourth quarter.

The company is pleased with its results, with CEO Michael Burdiek saying, "In addition to our strong operating results in fiscal 2016, we are extremely pleased with the progress we have achieved over the past year in advancing our strategic initiatives as a pioneer in the connected vehicle telematics space."

Looking ahead to the fiscal 2017 full year, CalAmp has forecast for adjusted net income of $1.15 to $1.35 per diluted share, while analysts are anticipating earnings of $1.28 per share for the year.

Scroll to Continue

TheStreet Recommends

Irvine, CA-based CalAmp provides customers around the world with a range of wireless communications solutions for a variety of applications.

Separately, TheStreet Ratings has set a "buy" rating and a score of B on CalAMP Corp. stock. This is driven by several positive factors, which TheStreet Ratings believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers.

The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity. TheStreet Ratings feels its strengths outweigh the fact that the company has had sub par growth in net income.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CAMP

Image placeholder title