CalAmp Announces $15.2 Million in New Contracts for Its Wireless Networks Business
April 05 2010 - 7:00AM
Marketwired
CalAmp Corp. (NASDAQ: CAMP), a leading provider of wireless
products, services and solutions, today announced that its Wireless
Networks business has entered into three new supply contracts with
an aggregate value of $15.2 million, increasing the backlog of this
business to a record level. The three contracts are with customers
in the Rail Transportation, Public Safety and Utility Smart Grid
sectors. Work on each contract is expected to begin immediately
with the majority of the revenues expected to be recognized in the
current and next fiscal year.
"These three bookings for our Wireless Networks products and
services lay the foundation for a rebound in this segment," said
Michael Burdiek, CalAmp's Chief Operating Officer. "The contracts
announced today, along with our expanding pipeline of other new
opportunities, lead us to believe that our Wireless Networks
infrastructure business will be back on a growth trajectory this
year."
About CalAmp Corp. CalAmp provides
wireless communications solutions that enable anytime/anywhere
access to critical data and content. The Company serves customers
in the public safety, industrial monitoring and controls, mobile
resource management, public utilities and direct broadcast
satellite markets. The Company's products are marketed under the
CalAmp, Dataradio, SmartLink, Aercept, LandCell and Omega trade
names. For additional information, please visit www.calamp.com.
Forward-Looking Statement Statements in
this press release that are not historical in nature are
forward-looking statements that 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. These forward-looking statements
reflect the Company's current views with respect to future events
and financial performance and are subject to certain risks and
uncertainties, including, without limitation, competitive
pressures, rapidly changing technologies, and other risks and
uncertainties that are described under the caption "Risk Factors"
in the Company's Registration Statement on Form S-3 filed with the
Securities and Exchange Commission on January 20, 2010 and in other
filings made from time to time with the SEC. Such risks and
uncertainties could cause actual results to differ materially from
historical or anticipated results. 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.
AT THE COMPANY: Garo Sarkissian VP Corporate Development (805)
987-9000 AT FINANCIAL RELATIONS BOARD: Lasse Glassen General
Information (213) 486-6546 Email Contact
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