For its fiscal fourth quarter CalAmp reported earnings of 20 cents a share, missing analysts' estimates of 22 cents by 2 cents. Revenue rose 23.6% to $59.8 million in the quarter. Analysts surveyed by Thomson Reuters expected revenue of $61.49 million for the quarter.
"Our fourth quarter results included a 32% year-over-year increase in our Wireless Datacom segment revenues and included increasing contributions from auto insurance telematics where demand continues to ramp," president and CEO Michael Burdiek said in a press release. "However, performance issues on the part of a contract manufacturer that we inherited with the Navman Wireless product line acquisition prevented us from shipping approximately $2 million in product orders in the fourth quarter."
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TheStreet Ratings team rates CALAMP CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CALAMP CORP (CAMP) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, good cash flow from operations and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins."