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  • CalAmp Corp. (NasdaqGS: CAMP) Buzz Stock of the Day 1 comment
    Oct 8, 2009 2:12 PM | about stocks: CAMP

    Shares of wireless communication solutions provider, CalAmp Corp. (NasdaqGS: CAMP) jumped more than 18 percent in morning trading Thursday, reaching a high of $2.60 from the previous day’s close of $2.20.

    The boost could be attributed to the company’s second quarter conference call scheduled for after the closing bell today.

    “Based on our current forecast, we believe fiscal 2010 second quarter consolidated revenues will show a sequential increase and be in the range of $23 to $25 million, with a GAAP basis net loss in the range of $0.06 to $0.10 per diluted share,” said CalAmp’s president and chief executive officer, Rick Gold in the company’s first quarter earnings release.

    Based in Oxnard, Calif., CalAmp provides wireless communications solutions that enable anytime/anywhere access to critical data and content. The Company serves customers in the public safety, industrial monitoring and controls, mobile resource management and direct broadcast satellite markets.

    The Company’s Wireless DataCom business segment recently inked a deal to provide a WiMAX version of its Dataradio Sentry 4G™ Wireless IP Router to Elster, a leading provider of smart grid solutions.  CalAmp’s WiMAX solution is expected to provide better performance for Elster’s smart grid activities including advanced metering, demand response and distribution automation as well as mobile applications such as fleet management.

    "CalAmp's Dataradio Sentry 4G Wireless IP Router provides industrial/utility-grade, and secure multi-network wireless connectivity for Elster's solution as well as for other devices,” said Rick Nozel, vice president of sales and marketing for CalAmp’s wireless networks business. “With our combined product portfolio, utilities can deploy a single network infrastructure capable of serving the unified communications needs for both their mobile fleet applications as well as fixed grid applications like AMI, demand response, transmission, substation, and distribution monitoring and automation.”

    Smart grid technology like Elster’s has revolutionized energy consumption monitoring by combining wireless technology, sensors and software, as well as ‘smart meters’ implemented for tracking.

    The IP-based smart grid model helps customers understand overall consumption patterns and allows for more intelligent decisions about power use. Additionally, the smart grid technology will also help to enhance reliability and energy efficiency, lower power-line losses and provide utilities with the ability to remotely automate services.

    “There are increasing indications that our business is in the early stages of a recovery,” said Gold. “We now expect that CalAmp will be profitable on a GAAP basis in the second half of fiscal 2010 with quarterly revenues in the range of $26 to $32 million."

    CalAmp shares are up nearly 200 percent in the past 3-months.

     

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