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CalAmp Corp. (CAMP)

  • Mon, Oct. 5, 3:14 PM
    • The Nasdaq is up 1.5% as equity markets display a renewed appetite for risk, and a large number of tech companies are posting 5%+ gains.
    • Major gainers include 3D printer makers 3D Systems (DDD +6.8%), Stratasys (SSYS +7.3%), and ExOne (XONE +10.4%), solar microinverter maker Enphase (ENPH +10.7%) and rival SolarEdge (SEDG +6.1%), car-buying site TrueCar (TRUE +10%), defense IT firm Kratos (KTOS +9.5%), online ad software firm Marin Software (MRIN +8.3%), and CDN owner Limelight (LLNW +8.9%).
    • Others: IP licensing firm Acacia (ACTG +7.2%), application delivery controller/security hardware vendor A10 Networks (ATEN +8.3%), travel deal site Travelzoo (TZOO +7.5%), home automation tech provider Control4 (CTRL +8.5%), M2M/telematics hardware and services firm CalAmp (CAMP +6.1%), online video hosting platform Brightcove (BCOV +6%).
    • 3D printing stocks, hit hard in 2014 and 2015, are reversing the big losses seen last Tuesday. Travelzoo's gains follow last Thursday's CEO change announcement. CalAmp is now up 24% since beating FQ2 estimates and providing in-line FQ3 guidance on Oct. 1.
    • Previously covered: Twitter, Cisco, Rackspace, Micron, SunEdison, Vivint, Juniper, CEVA, Knowles, Yandex/Qiwi
    | Mon, Oct. 5, 3:14 PM | 4 Comments
  • Thu, Oct. 1, 5:35 PM
    | Thu, Oct. 1, 5:35 PM | Comment!
  • Thu, Oct. 1, 5:34 PM
    • With expectations fairly low going into its FQ2 report, CalAmp (NASDAQ:CAMP) has jumped to $17.05 after hours after beating estimates with the help of a 23% Y/Y increase in wireless datacom revenue to $61.8M - growth slightly improved from FQ1's 21% - and offering in-line FQ3 and FY16 guidance.
    • Datacom sales benefited from strong demand for CalAmp's mobile resource management (MRM) hardware and software offerings from fleet-management and asset-tracking clients, as well as for its wireless networking products. Satellite revenue fell 11% Y/Y to $8M. However, both datacom and satellite sales are expected to be "solidly higher" Q/Q and Y/Y in FQQ3.
    • Financials: Gross margin rose 20 bps Q/Q and 160 bps Y/Y to 36.2%. GAAP operating expenses rose 12% Y/Y to $17.4M. CalAmp ended FQ2 with $217.7M in cash/marketable investments, and $136.7M in debt.
    • CalAmp's results/guidance, PR
    | Thu, Oct. 1, 5:34 PM | Comment!
  • Thu, Oct. 1, 4:05 PM
    • CalAmp (NASDAQ:CAMP): FQ2 EPS of $0.27 beats by $0.01.
    • Revenue of $69.8M (+17.9% Y/Y) beats by $1.84M.
    • Expects FQ3 revenue of $71M-$76M and EPS of $0.26-$0.30 vs. a consensus of $73.1M and $0.28.
    • Expects FY16 (ends Feb. '16) revenue of $281M-$289M vs. a $283.4M consensus.
    • Shares unchanged after hours for now.
    • Press Release
    • Update (4:10PM ET): CalAmp is now up 6.5% after hours.
    | Thu, Oct. 1, 4:05 PM | 1 Comment
  • Thu, Oct. 1, 2:07 PM
    • CalAmp (NASDAQ:CAMP) is seeing steep losses ahead of this afternoon's FQ2 report. 549K shares have been traded thus far, topping a 3-month daily average of 449K.
    • The M2M/telematics hardware and software provider is down 16% YTD, and trading for 12x an FY17 (ends Feb. '17) EPS consensus of $1.26.
    | Thu, Oct. 1, 2:07 PM | 2 Comments
  • Wed, Sep. 30, 5:35 PM
  • Thu, Aug. 20, 11:17 AM
    • Toyota Industrial Equipment will use CalAmp's (CAMP -0.9%) tracking devices and cloud-based service enablement offerings to power a fleet management system that "tracks and reports operating behavior of forklifts and forklift operators communicating over public cellular networks."
    • CalAmp states its products will be installed on Toyota's production line, and enable "electronic hour meter collection and monitoring, fault code reporting, impact detection and alerting, fleet utilization and optimization, and asset tracking with GPS." The company adds it "developed compatibility with Toyota's on-board communication protocol in order to decode and act on messages coming directly from the forklift's electronic control module."
    • CalAmp's wireless datacom revenue rose 21% Y/Y in FQ1 (the April quarter) to $57.8M, more than offsetting a 31% drop in satellite revenue to $7.7M.
    | Thu, Aug. 20, 11:17 AM | Comment!
  • Wed, Jul. 1, 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
    | Wed, Jul. 1, 11:19 AM | 7 Comments
  • Tue, Jun. 30, 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%.
    • Press Release
    | Tue, Jun. 30, 4:02 PM | Comment!
  • Mon, Jun. 29, 5:35 PM
  • Mon, Jun. 8, 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
    | Mon, Jun. 8, 5:07 PM | Comment!
  • Fri, May 15, 5:38 PM
    | Fri, May 15, 5:38 PM | 12 Comments
  • Fri, May 1, 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.
    | Fri, May 1, 2:50 PM | 1 Comment
  • Wed, Apr. 29, 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.
    | Wed, Apr. 29, 5:36 PM | Comment!
  • Fri, Apr. 24, 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
    | Fri, Apr. 24, 3:17 PM | Comment!
  • Wed, Apr. 22, 12:45 PM
    | Wed, Apr. 22, 12:45 PM | Comment!
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Company Description
CalAmp Corp provides wireless communications solutions applications to customers. Its business activities are organized into its Wireless DataCom and Satellite business segments.