- Though CalAmp (CAMP) beat FQ3 estimates, the company is guiding for FQ4 revenue of $60M-$63M and EPS of $0.19-$0.23, below a consensus of $63.1M and $0.24.
- While CalAmp's wireless datacom revenue is expected to "increase solidly on a sequential basis" thanks to strength in core verticals, growing insurance industry telematics sales, and revenue from newly-acquired RSI, "normal quarterly fluctuations" from the company's DBS satellite client will lead satellite revenue to be "substantially lower on a sequential basis."
- Wireless datacom revenue (78% of total revenue) rose 37% Y/Y to $49.7M in FQ3; satellite revenue rose 73% to $13.8M.
- Gross margin was 33.1%, -50 bps Q/Q and +150 bps Y/Y. Opex jumped 55% Y/Y, thanks in large part to major increases in sales and R&D spend.
- CC at 4:30PM ET. FQ3 results, PR.