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CalAmp Corp. (CAMP)

  • 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, 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, 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
  • Fri, May 15, 5:38 PM
    | Fri, May 15, 5:38 PM | 12 Comments
  • 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!
  • Tue, Apr. 21, 5:37 PM
    | Tue, Apr. 21, 5:37 PM | Comment!
  • 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, 5:20 PM | 6 Comments
  • Tue, Apr. 21, 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%.
    • Press Release
    | Tue, Apr. 21, 4:10 PM | 8 Comments
  • Tue, Jan. 6, 12:07 PM
    • M2M connectivity hardware/service providers Sierra Wireless (SWIR -8%) and CalAmp (CAMP -6.5%) are posting steep losses on a day the Nasdaq is down 1.5%. On the other hand, smaller hardware peer Novatel (MIFI +7.6%) is adding to yesterday's gains in a big way.
    • Northland downgraded Sierra last Friday in response to its huge 2014 gains, albeit while belatedly hiking its target and estimates. Going into today, Novatel sported a 2015E EV/sales ratio roughly 1/3 of Sierra's.
    • Machina Research recently provided a set of 2015 M2M/IoT predictions. Among them: Enterprise deployments and M&A activity will ramp; regulators will take a closer look at the market; connected car adoption will grow; and mobile phones will increasingly act as gateway devices for interacting with IoT hardware.
    | Tue, Jan. 6, 12:07 PM | 4 Comments
  • Dec. 24, 2014, 12:44 PM
    | Dec. 24, 2014, 12:44 PM | 3 Comments
  • Dec. 23, 2014, 5:35 PM
    • Top gainers, as of 5:15 p.m.: ONTX +3.5%. AG +3.0%. AU +2.2%. GSAT +2.0%. FOLD +1.8%.
    • Top losers, as of 5:15 p.m.: CAMP -5.2%. TPLM -3.3%. EPE -2.5%. NQ -2.4%. UWTI -2.1%.
    | Dec. 23, 2014, 5:35 PM | Comment!
  • 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, 4:25 PM | 1 Comment
  • Nov. 6, 2014, 11:24 AM
    • Sierra Wireless' Q3 beat and strong Q4 guidance is providing a lift to fell 3G/4G hotspot router and M2M hardware provider Novatel Wireless (MIFI +6.2%), as well as M2M vendor CalAmp (CAMP +3.9%).
    • Novatel reports after the bell. CalAmp jumped a month ago after posting an FQ2 beat and in-line guidance.
    | Nov. 6, 2014, 11:24 AM | Comment!
CAMP vs. ETF Alternatives
Company Description
CalAmp Corp provides wireless communications solutions applications to customers. Its business activities are organized into its Wireless DataCom and Satellite business segments.