CalAmp Satellite Products Requalified By Key Customer
January 16 2008 - 7:00AM
Business Wire
CalAmp Corp. (Nasdaq:CAMP), a leading provider of wireless
products, services, and solutions, announced today that a key
Direct Broadcast Satellite (DBS) customer has requalified two of
CalAmp�s products, including the latest generation offering that
supports expanded high-definition television (HDTV) content along
with a popular older generation product line. As previously
announced, a product performance issue affecting certain DBS
equipment manufactured by CalAmp for this customer resulted in the
customer returning product and putting orders on hold pending the
requalification of products. Last month, CalAmp announced that it
had reached a settlement agreement with this customer related to
this issue. Today�s announcement that the customer has requalified
the products paves the way for CalAmp to resume business with this
important customer. Fred Sturm,�CalAmp�s President and Chief
Executive Officer, commented, "I am very pleased to announce that
CalAmp products have been requalified by the DBS service provider
that has been our largest customer over the past several years. We
will immediately begin working with our customer towards restarting
the production process. Initially, we expect we will be shipping a
mix of both revenue-generating new units and non-revenue
refurbished units. We believe these shipments will likely resume
during our fiscal 2009 first quarter, and we look forward to
rebuilding our market position with this key customer.� About
CalAmp Corp. CalAmp is a leading provider of wireless
communications products that enable anytime/anywhere access to
critical information, data and entertainment content. With
comprehensive capabilities ranging from product design and
development through volume production, CalAmp delivers
cost-effective high quality solutions to a broad array of customers
and end markets. CalAmp is a supplier of DBS outdoor customer
premise equipment to the U.S. satellite television market. The
Company also provides wireless data communication solutions for the
telemetry and asset tracking markets, private wireless networks,
public safety communications and critical infrastructure and
process control applications. For additional information, please
visit the Company�s website at www.calamp.com. Forward-Looking
Statement Statements in this press release that are not historical
in nature are forward-looking statements, which involve known and
unknown risks and uncertainties. Words such as "may", "will",
"expect", "intend", "plan", "believe", "seek", "could", "estimate",
"judgment", "targeting", "should", "anticipate", "goal" and
variations of these words and similar expressions, are intended to
identify forward-looking statements. Actual results could differ
materially from those implied by such forward-looking statements
due to a variety of factors, including general and industry
economic conditions, product demand, increased competition,
competitive pricing and continued pricing declines in the DBS
market, the timing of customer approvals of new product designs,
operating costs, the Company's ability to efficiently and
cost-effectively integrate its acquired businesses, the Company�s
ability to obtain an amendment of its bank credit agreement to
eliminate the event of default under the credit agreement, the risk
that the ultimate cost of resolving a product performance issue
with a key DBS customer may exceed the amount of reserves
established for that purpose, and other risks or uncertainties that
are described in the Company's fiscal 2007 Annual Report on Form
10-K filed on May 17, 2007 with the Securities and Exchange
Commission (SEC) and in the Quarterly Report on Form 10-Q filed on
January 15, 2008 with the SEC. Although the Company believes the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions, it can give no assurance that its
expectations will be attained. The Company undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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