NEW YORK (TheStreet) -- Shares of CalAmp (CAMP) were falling 5.3% to $17.30 after-hours Tuesday after the wireless communications company met analysts' estimates for earnings in the first quarter of fiscal 2016.
CalAmp reported earnings of 26 cents a share for the fiscal first quarter, in-line with analysts' estimates of 26 cents a share. Revenue grew 10.9% year over year to $65.43 million for the quarter, compared to analysts' estimates of $65.39 million for the quarter.
"We saw continued improvement in consolidated gross margin and exceptional operating cash flow of $16.3 million, resulting in free cash flow of $15 million," President and CEO Michael Burdiek said. "Our Satellite segment revenue at $7.6 million was in line with expectations and added meaningfully to our bottom line profitability and operating cash flow."
Looking to the second quarter of fiscal 2016 CalAmp expects to report earnings of 24 cents to 28 cents a share and revenue of $66 million to $70 million. Analysts expect the company to report earnings of 26 cents a share and revenue of $68.08 million for the fiscal second quarter.
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 some important positives, 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."
You can view the full analysis from the report here: CAMP Ratings Report