CalAmp: Fiscal Q2 Earnings Snapshot

September 22, 2022 GMT

IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Thursday reported a loss of $7.5 million in its fiscal second quarter.

On a per-share basis, the Irvine, California-based company said it had a loss of 21 cents. Losses, adjusted for non-recurring costs and stock option expense, came to 2 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The wireless communications company posted revenue of $72.8 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $68.8 million.

In the final minutes of trading on Thursday, the company’s shares hit $4.92. A year ago, they were trading at $10.05.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAMP at https://www.zacks.com/ap/CAMP