- CalAmp (CAMP +2.2%) posted beats on top and bottom lines with Q2 earnings that showed progress in its newer areas of focus, including connected vehicles and industrial Internet of Things.
- Revenues grew in continuing businesses (up 7.1% combined), but declined fractionally overall without $6.67M in year-ago earnings from its satellite business that ceased operations Aug. 31, 2016.
- Gross margin dipped slightly, to 41% from 41.6%.
- Revenue breakout: Telematics Systems, $74.1M (up 7.6%); Software and Subscription Services, $15.7M (up 4.95%).
- At quarter's end, cash and marketable securities were $130.6M, and total debt outstanding was $150.5M.
- For Q3 it's guiding to revenues of $89M-$94M (vs. consensus for $90.8M) and adjusted EPS of $0.27-$0.33 (in line with consensus for $0.30). It's also forecasting EBITDA of $12M-$14.5M vs. expectations for $13.3M.
- Conference call to come at 4:30 p.m. ET.
- Press Release