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[December 28, 2012]
CalAmp Q3 net income increases
Dec 28, 2012 (Datamonitor via COMTEX) -- CalAmp Corporation, a provider of wireless technology solutions that deliver data, voice and video for critical networked communications and other applications, has reported net income of $4.15 million, or $0.14 per diluted share, for the third quarter ended November 30, 2012, compared to $1.7 million, or $0.06 per diluted share, for the same quarter ended November 30, 2011.
Revenues for the third quarter ended November 30, 2012 were $44.34 million, compared to $32.75 million for the same quarter ended November 30, 2011.
Net income for the nine months ended November 30, 2012 was $12 million, or $0.40 per diluted share, compared to $3.58 million, or $0.13 per diluted share, for the nine months ended November 30, 2011.
Revenues for the nine months ended November 30, 2012 were $132.19 million, compared to $101.11 million for the nine months ended November 30, 2011.
Commenting on the Company's business outlook, Michael Burdiek, CalAmp's President and CEO, said, "We expect continued strong customer demand within our key verticals to drive significant year-over-year expansion of revenue and earnings in the fourth quarter of fiscal 2013. Based on our latest projections, we expect fiscal 2013 fourth quarter consolidated revenue in the range of $44 to $48 million.
"We anticipate Wireless Datacom revenue in the fourth quarter will be significantly higher year-over-year and relatively flat on a sequential quarter basis. Satellite revenue in the fourth quarter is expected to be up on a sequential quarter basis but down on a year-over-year basis. We expect that our fourth quarter operating results will be slightly impacted by acquisition-related expenses arising from the Wireless Matrix transaction."
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