- CalAmp (NASDAQ:CAMP) has risen 2.9% postmarket following its Q4 report, where it eked out a revenue gain despite supply chain shortages and previously announced soft demand for MRM Telematics.
- Consolidated revenue rose 3.3% to $87.2M; meanwhile, gross profit fell fractionally to $33.3M. Gross margin dropped to 38%, from 40%.
- The company swung to a GAAP net loss of $79.3M (with noncash charges for a $19.1M impairment loss and a $34.6M valuation allowance). Non-GAAP net income fell to $1.1M from $9.4M.
- Total subscribers rose to 1.3M from a year-ago 1M, assisted by recent acquisitions.
- Operating cash flow was $11.5M for the fiscal year. The company ended the year with $107.4M in cash and equivalents, and extended a $50M revolving credit facility through March 2022.
- Revenue breakout: Software & Subscriptions Services, $34.8M (up 82.8%); Telematics, $52.4M (down 19.8%).
- It's not providing Q1 guidance "with the timing, magnitude and duration of the worldwide COVID-19 pandemic virtually impossible to fully ascertain at the present time." There's broad impact across the global supply chain creating delivery and scheduling challenges for installation, CFO Kurt Binder says.
- Press release