CalAmp Q2 Profit Tops View; Issues Q3 Outlook - Quick Facts
(RTTNews.com) - CalAmp Corp. (CAMP) reported second-quarter net income of $2.8 million, or $0.08 per share, compared to $3.7 million, or $0.12 per share in the prior year quarter.
On an adjusted basis, net income for the quarter was $6.8 million, or $0.19 per share, up from $4.9 million, or $0.17 per share in the comparable quarter last year. On average, five analysts polled by Thomson Reuters expected the company to earn $0.16 per share. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 34% to $58.81 million from $43.99 million in the previous year period, while five analysts had a consensus revenue estimate of $54.82 million for the quarter.
Looking forward to the third quarter, the company expects net income in the range of $0.07 to $0.10 per share, adjusted net income in the range of $0.19 to $0.23 per share, and consolidated revenues in the range of $59 million to $63 million.
Analysts currently expect third quarter earnings of $0.21 per share and revenues of $57.85 million.
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