CalAmp Posts Strong Q2 Revenue

CalAmp Corp (NASDAQ:CAMP) shares are up in early morning trading with shares being trading around $3.15 per share and shares could see a nice bump today. CalAmp announced the company has realized a second quarter profit as revenue has climbed 15% during that period.

CalAmp earned $1.4 million for the June-August period. The previous year the company experienced a loss in the same period of $930,000. Revenue rose to $33.8 million from $29.5 million the previous year. The majority of revenue came from CalAmp’s wireless datacom business which netted $25.5 million of that total. CalAmp is predicting a profit of 2 to 6 cents for the current quarter. Revenue is forecast at $30 million to $34 million.

CalAmp shares rose 30 cents, or 10.5 percent, to $3.15 in after-hours trading on Thursday, when the company made the announcement. The stock finished regular trading up 14 cents, or 5.2 percent, at $2.85.

CalAmp Corp. develops and markets wireless communications solutions that deliver data, voice, and video for critical networked communications and other applications primarily in the United States. CalAmp Corp. was founded in 1981 and is headquartered in Oxnard, CA.

written by MarcS

An experienced trader with a background in political science, Marc got his start as an individual trader surfing the old stock message boards. He is always on the lookout for the next big winner.

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