Calamp Corp. (CAMP) Tops Q4 EPS

Calamp Corp. (NASDAQ: CAMP) reported Q4 EPS of $0.44, $0.42 better than the analyst estimate of $0.02. Revenue for the quarter came in at $87.2 million versus the consensus estimate of $85.94 million.

"Our fourth quarter revenue reflected the supply chain shortages primarily related to the COVID-19 pandemic and softness in demand for our MRM Telematics products that we discussed in our pre-announcement release on March 5, 2020," said Jeff Gardner, interim president and chief executive officer. "Highlighting the quarter, the Software & Subscription Services business had another quarter of solid growth, further underscoring our progress in transforming our business to a SaaS-based model. As CalAmp\'s newly appointed interim president and CEO and a long-time board member, my primary focus is to leverage our broad global scale and sales organization to deliver enhanced performance metrics across the Company."

"As we navigate the COVID-19 worldwide crisis, our primary concern is the health and safety of all employees who are effectively working remotely by utilizing technologies to support virtual communications across our organization and also with our customers, partners and suppliers. At the same time, I am closely evaluating the entire business for implementing further strategic enhancements, and I remain fully committed to transforming CalAmp into a leading SaaS solutions provider, supported by steady and predictable recurring revenue streams. With our strong balance sheet and recently extended credit line, I believe we are well positioned to manage through these uncertain times and emerge as an even stronger company."

For earnings history and earnings-related data on Calamp Corp. (CAMP) click here.

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