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
Tue, Jun. 30, 4:02 PM
Mon, Jun. 29, 5:35 PM
Tue, Apr. 21, 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
Tue, Apr. 21, 4:10 PM
Mon, Apr. 20, 5:35 PM
Dec. 23, 2014, 4:25 PM
- CalAmp (NASDAQ:CAMP) expects FQ4 revenue of $66M-$70M, below a $71.1M consensus. EPS guidance of $0.26-$0.30 is in-line with a $0.28 consensus.
- FQ3 wireless datacom revenue +10% Y/Y to $54.6M; it was up 11% in FQ2. Satellite revenue -37% to $8.6M; it fell 23% in FQ2. CalAmp notes "specialized telematics device shipments to a key OEM customer in the heavy equipment industry" lifted wireless sales.
- Wireless datacom revenue is expected to be up Q/Q and Y/Y in FQ4, while satellite revenue is expected to fall to $8M.
- Gross margin +40 bps Q/Q and +190 bps Y/Y to 35%. Opex +4% Y/Y to $15.6M. CalAmp ended the quarter with $40M in cash/marketable securities (up $3.2M Q/Q), and no debt.
- FQ3 results, PR
Dec. 23, 2014, 4:02 PM
Dec. 22, 2014, 5:35 PM
Oct. 6, 2014, 4:17 PM
- CalAmp (NASDAQ:CAMP) expects FQ3 revenue of $61M-$65M and EPS of $0.21-$0.25, mostly below a consensus of $65.2M and $0.24. However, FY15 (ends Feb. '15) guidance is for revenue of $250M-$255M and EPS of $0.88-$0.94, in-line with a consensus of $253M and $0.91.
- FQ2 wireless datacom revenue +11% Y/Y to $50.2M. Satellite revenue (expected to be weak) -23% to $9M. Strong sales to energy clients provided a lift, as did demand for mobile resource management (MRM) products and the resumption of shipments to a major solar customer.
- Wireless datacom sales are expected to be up Q/Q in FQ3; satellite sales are expected to fall slightly.
- Gross margin +30 bps Q/Q and +90 bps Y/Y in FQ2 to 34.6%. Opex +3% Y/Y to $15.5M. CalAmp ended the quarter with $36.8M in cash/investments, and no debt.
- Expectations were low going into the report.
- FQ2 results, PR
Oct. 6, 2014, 4:01 PM
Oct. 5, 2014, 5:35 PM
Jul. 1, 2014, 5:16 PM
- Though CalAmp (CAMP) beat FQ1 estimates, it's guiding for FQ2 revenue of $57M-$61M and EPS of $0.17-$0.21, below a consensus of $62.5M and $0.22.
- The company expects "a sharp decline" in positive train control radio products, and only a "modest contribution" from Latin American MRM (mobile asset monitoring/control) product sales. Also, satellite revenue is expected to be down Q/Q "to the lower end of its normal quarterly operating range."
- On the other hand, wireless datacom revenue is forecast to be up Q/Q and Y/Y thanks to the resumption of shipments to a key solar OEM client (previous) and healthy demand in most core verticals.
- Fiscal 2H is expected to be "significantly stronger" than 1H, aided by wireless datacom strength in the auto insurance telematics and heavy equipment markets. But full-year satellite performance is now expected to be "below earlier expectations."
- FQ1 gross margin was 34.3% vs. 34.4% in FQ4 and a year ago. Opex rose fractionally Y/Y to $15.62M.
- Strong MRM sales fueled a 17% Y/Y increase in wireless datacom revenue to $47.8M. Satellite revenue fell 14% to $11.1M.
- FQ1 results, PR
Jul. 1, 2014, 4:02 PM
Jun. 30, 2014, 5:35 PM
Apr. 24, 2014, 5:10 PM
- Cirrus Logic (CRUS) expects FQ1 revenue of $135M-$155M, largely above a $135.5M consensus. Gross margin is expected to be in a range of 47%-49% after coming in at 49% (at the high end of a 47%-49% range) in FQ4. Shares +3.3% AH after rising 7.3% in regular trading thanks to Apple. (FQ4 results, PR)
- Synaptics (SYNA) expects FQ4 revenue of $275M-$295M, well above a $231.3M consensus. Mobile revenue rose 44% Y/Y in FQ3, and the company's fingerprint ID ops (i.e. Validity Sensors) have become accretive ahead of plan.Shares +10.5% AH. (FQ2 results, PR)
- CalAmp (CAMP) expects FQ1 revenue of $56M-$60M and EPS of $0.17-$0.21, below a consensus of $64.3M and $0.23. The company notes revenue from a key solar OEM client is expected to fall by $3M Q/Q. Shares -9.9% AH. (FQ4 results, PR)
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