CalAmp Increases Financial Guidance for the Fiscal 2012 First Quarter
June 01 2011 - 4:06PM
Marketwired
CalAmp Corp. (NASDAQ: CAMP), a leading
provider of wireless products, services and solutions, today
announced increased financial guidance for the fiscal 2012 first
quarter ended May 31, 2011.
The Company expects to report fiscal 2012 first quarter
consolidated revenues in the range of $34.0 to $34.5 million and
GAAP basis earnings per diluted share of $0.01 to $0.02. This
compares to the Company's first quarter business outlook provided
on April 28, 2011 that projected fiscal 2012 first quarter
consolidated revenues in the range of $31 to $34 million and GAAP
basis earnings per diluted share in the range of a $0.01 loss to
$0.02 income.
Michael Burdiek, President and Chief Executive Officer of
CalAmp, commented, "We saw strong performance from both our
Wireless Datacom and Satellite businesses in the first quarter, and
we anticipate year-over-year growth in both businesses during
fiscal 2012. Our pipeline of sales opportunities continues to
expand as we execute our global product and marketing
strategy."
CalAmp will provide its complete financial results in its fiscal
2012 first quarter earnings release and conference call, the date
of which will be announced soon.
About CalAmp CalAmp develops and markets
wireless communications solutions that deliver data, voice and
video for critical networked applications. The Company's two
business segments are Wireless DataCom, which serves utility,
government and enterprise customers, and Satellite, which focuses
on the North American Direct Broadcast Satellite market. For more
information, please visit www.calamp.com.
Forward-Looking Statements 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. Actual results could differ materially
from those implied by such forward-looking statements due to a
variety of factors, including product demand, competitive pressures
and pricing declines in the Company's satellite and wireless
datacom markets, the timing of customer approvals of new product
designs, the length and extent of the global economic downturn that
has and may continue to adversely affect the Company's business,
and other risks or uncertainties that are described in the
Company's Report on Form 10-K for fiscal 2011 as filed on April 28,
2011 with the Securities and Exchange Commission. 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: Rick Vitelle Chief Financial Officer
(805) 987-9000 AT FINANCIAL RELATIONS BOARD: Lasse Glassen
General Information (213) 486-6546 lglassen@mww.com
CalAmp (NASDAQ:CAMP)
Historical Stock Chart
From May 2024 to Jun 2024
CalAmp (NASDAQ:CAMP)
Historical Stock Chart
From Jun 2023 to Jun 2024