CalAmp Corp.

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  • Jul. 1, 2015, 11:19 AM
    • CalAmp (NASDAQ:CAMP) is recovering the losses seen in a late-June selloff after posting in-line FQ1 results and guiding for FY16 (ends Feb. '16) revenue guidance of $280M-$290M, favorable at the midpoint to a $282.8M consensus. FQ2 guidance is for revenue of $66M-$70M and EPS of $0.24-$0.28, in-line with a consensus of $68.1M and $0.26.
    • Segment performance: Wireless datacom revenue (related to M2M/telematics products and services) rose 21% Y/Y in FQ1 to $57.8M, fueled by both mobile resource management (MRM) and wireless networking product growth. Satellite revenue fell 31% to $7.7M. Datacom revenue is expected to rise Q/Q in FQ2; satellite revenue is expected to be roughly flat before rising in the second half of FY16.
    • Financials: Gross margin rose 50 bps Q/Q and 170 bps Y/Y to 36%. GAAP operating expenses rose by $900K Y/Y to $16.5M - sales spend totaled $5.5M, R&D $4.6M, G&A $4.8M, and amortization costs $1.6M. Following the closing of a $172.5M convertible offering (net proceeds of $152M), CalAmp ended FQ1 with $209M in cash/marketable securities, and $135M in debt.
    • M2M hardware/software/services peer Sierra Wireless (NASDAQ:SWIR) is also doing well today.
    • FQ1 results, PR
    | Jul. 1, 2015, 11:19 AM | 7 Comments
  • Jun. 30, 2015, 4:02 PM
    • CalAmp (NASDAQ:CAMP): FQ1 EPS of $0.26 in-line.
    • Revenue of $65.43M (+10.9% Y/Y) in-line.
    • Shares -0.5%.
    | Jun. 30, 2015, 4:02 PM
  • Jun. 29, 2015, 5:35 PM
  • Jun. 8, 2015, 5:07 PM
    • Jorge Titinger, the CEO of server maker SGI, is joining CalAmp's (NASDAQ:CAMP) board, effective tomorrow.
    • Tom Pardun, the chairman of hard drive giant Western Digital, will be leaving the board on July 28, bringing the board's size back to 7 members.
    • CalAmp's board bio page
    | Jun. 8, 2015, 5:07 PM
  • May 15, 2015, 5:38 PM
    | May 15, 2015, 5:38 PM | 12 Comments
  • May 1, 2015, 2:50 PM
    • CalAmp's (CAMP +1.6%) has upsized its offering of convertible senior notes due 2020 (first announced on Wednesday afternoon) by $25M to $150M. Initial purchasers now have a $22.5M overallotment option (up from $18.75M).
    • The notes carry an interest rate of 1.625%, and a initial conversion price of $27.59/share (38% above current levels).
    • Shares are following equity markets higher. They're still down 4% from Wednesday's close.
    | May 1, 2015, 2:50 PM | 1 Comment
  • Apr. 29, 2015, 5:36 PM
    • CalAmp (NASDAQ:CAMP) plans to sell $125M worth of convertible senior notes due 2020. Initial purchasers are expected to have an $18.75M overallotment option.
    • Proceeds are expected to be used for "general corporate purposes, which may include acquisitions, strategic transactions and working capital."
    • CalAmp had $44.4M in cash/marketable securities at the end of February, and less than $1M in debt. Shares have fallen to $19.96 AH.
    | Apr. 29, 2015, 5:36 PM
  • Apr. 24, 2015, 3:17 PM
    • Today's notable tech gainers include Chinese microblogging leader Weibo (WB +9.4%), VoIP/4G signaling infrastructure provider Sonus (SONS +5.9%), Chinese mobile game publisher Sky-mobi (MOBI +7.2%), Chinese auto site Bitauto (BITA +5.6%), and cloud e-mail encryption software provider Zix (ZIXI +3.2%). The Nasdaq is up 0.7%.
    • Notable decliners include set-top/pay-TV infrastructure provider Arris (ARRS -4.5%), M2M/fleet management hardware and software provider CalAmp (CAMP -6.6%), and optical component vendor NeoPhotonics (NPTN -5.9%).
    • Weibo, Sky-mobi, and Bitauto are taking part in a fresh Chinese tech rally. Weibo, also up strongly on Wednesday, is now up 21% from Tuesday's close. Zix is up 11% since posting Q1 results and reiterating its full-year sales guidance on Tuesday; a 14.7% Y/Y Q1 increase in orders to $14.3M is going over well. Sonus' gains come two days after the company posted Q1 results that were slightly better than the guidance provided in its March 24 warning.
    • Arris is giving back some of the huge Thursday gains seen on account of its $2.1B deal to buy set-top rival Pace (and take advantage of its lower tax rates); Synergy Research estimates Arris/Pace will have a combined 17% global video infrastructure share (nearly even with Cisco's 18%), and a  set-top share of ~30%. CalAmp is returning some of the huge Wednesday gains seen due to its FQ4 beat and solid FY16 guidance.
    • Previously covered: Chip stocks (a lot of them), Amazon, Microsoft, 3D Systems, Unisys, Silicon Motion, Rackspace, Netgear, AMSC, Verisign, Acacia, Infosys, Juniper, Ubiquiti, Maxwell, Synaptics, HomeAway, Gigamon
    | Apr. 24, 2015, 3:17 PM
  • Apr. 22, 2015, 12:45 PM
    | Apr. 22, 2015, 12:45 PM
  • Apr. 21, 2015, 5:37 PM
    | Apr. 21, 2015, 5:37 PM
  • Apr. 21, 2015, 5:20 PM
    • CalAmp (NASDAQ:CAMP) is guiding for FQ1 revenue of $63M-$67M, below a $67.4M consensus. However, it also expects wireless datacom revenue (87% of total FQ4 revenue) to grow "at or above" a mid-teens clip in FY16 (ends Feb. '16), with further margin expansion. The consensus for total FY16 revenue growth is at 14.3%.
    • FQ1 EPS guidance of $0.24-$0.28 is in-line with a $0.26 consensus. Wireless datacom revenue is expected to be up significantly Y/Y but down modestly Q/Q due to shipment timings for a major heavy equipment OEM customer; shipments are expected to pick up in future quarters. Satellite revenue is expected to be soft in the first half of FY16, and grow in the second half as a key client transitions to next-gen products.
    • Wireless datacom revenue rose 23% Y/Y in FQ4 to $60.5M, a pickup from FQ3's 10% growth and driving the FQ4 beat. Satellite revenue fell 18% to $8.7M. Strong demand for mobile resource management (MRM) and fleet management products drove the wireless growth.
    • Gross margin rose to 35.5% from FQ3's 35% and the year-ago period's 34.4%. Thanks to lower R&D spend, operating expenses fell by $200K Y/Y to $15.7M.
    • Shares have jumped to $18.30 AH.
    • FQ4 results, PR
    | Apr. 21, 2015, 5:20 PM | 6 Comments
  • Apr. 21, 2015, 4:10 PM
    • CalAmp (NASDAQ:CAMP): FQ4 EPS of $0.32 beats by $0.04.
    • Revenue of $69.2M (+15.6% Y/Y) beats by $1.37M.
    • Shares +3%.
    | Apr. 21, 2015, 4:10 PM | 8 Comments
  • Apr. 20, 2015, 7:11 PM
    • Ahead of tomorrow's FQ4 report, CalAmp (NASDAQ:CAMP) announces it has bought Crashboxx, a startup working on "insurance telematics applications across the entire auto insurance lifecycle, from driver risk assessment through claims processing automation." The company is paying $1.5M in cash up-front + earn-outs based on post-acquisition sales targets.
    • CalAmp: "[Crashboxx's] proprietary driver behavior, crash detection, crash notification and physical and bodily damage estimation technologies are extraordinarily unique within the emerging insurance telematics marketplace. Innovations including automated first notification of loss and near real time estimation of damages and bodily injury could drive significant business efficiencies and [ROI] for both insurance carriers and fleet managers."
    • Though the Industries page on CalAmp's site currently lists 11 different verticals for which it provides telematics, fleet-tracking, and asset/device management solutions, insurance isn't one of them.
    | Apr. 20, 2015, 7:11 PM
  • Apr. 20, 2015, 5:35 PM
    | Apr. 20, 2015, 5:35 PM | 1 Comment
  • Apr. 8, 2015, 7:12 PM
    • CalAmp (NASDAQ:CAMP) has updated its Vanguard rugged 4G router line to include a model (the 5530) that supports a broader set of frequency bands. That makes it compatible with 4G networks worldwide, as well as Verizon's high-speed XLTE network (went live in 2014).
    • Like other Vanguard routers, the 5530 has an industrial-grade design meant to hold up in rough environments, and works with CalAmp's cloud-based DeviceOutlook device management/remote monitoring software. Wi-Fi and GPS support is optional.
    • CalAmp's wireless datacom revenue rose 10% Y/Y in FQ3 (the November quarter) to $54.6M, thanks in part to "specialized telematics device shipments to a key OEM customer in the heavy equipment industry." FQ4 results arrive on April 21.
    | Apr. 8, 2015, 7:12 PM | 4 Comments
  • Mar. 12, 2015, 6:02 PM
    • 2lemetry's cloud-based platform serves as middleware for large networks of Web-connected embedded devices - the proverbial Internet of Things (IoT). It translates the various protocols used by connected devices, sets messaging rules, and analyzes the data traffic it handles to derive insights.
    • The startup boasts its solution can work with any protocol or hardware platform, automatically add new devices as they join a network, and scale to millions of devices without hurting performance. Honeywell is among the company's enterprise clients.
    • Amazon (NASDAQ:AMZN) has bought 2lemetry for an undisclosed sum, and says it will continue supporting the company's clients. 2lemetry's services appear to complement AWS' Kinesis service, which provides real-time processing for massive data streams, including for data produced by IoT devices and sensors.
    • TechCrunch notes 2lemetry's Incoming service might particularly interest Amazon - it helps companies (such as retailers) interact with customers using data obtained via proximity beacons, geofencing, facial recognition, and other sources.
    • Though better known for their machine-to-machine (M2M) communications hardware, Sierra Wireless (NASDAQ:SWIR) and CalAmp (NASDAQ:CAMP) are two companies that have been going after the budding IoT service market. Sierra recently bought M2M connectivity/messaging service provider Wireless Maingate, and CalAmp has launched its Connect service platform for deploying and managing M2M devices.
    | Mar. 12, 2015, 6:02 PM | 13 Comments
Company Description
CalAmp Corp provides wireless communications solutions applications to customers. Its business activities are organized into its Wireless DataCom and Satellite business segments.