CalAmp: Fiscal Q1 Earnings Snapshot
Posted Jun 24, 2021 2:29 pm.
Last Updated Jun 24, 2021 2:30 pm.
IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Thursday reported a loss of $1.9 million in its fiscal first quarter.
The Irvine, California-based company said it had a loss of 6 cents per share. Earnings, adjusted for one-time gains and costs, were 8 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The wireless communications company posted revenue of $79.7 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $79 million.
CalAmp shares have risen 44% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.32, an increase of 90% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAMP at https://www.zacks.com/ap/CAMP
The Associated Press
