LONDON, UK / ACCESSWIRE / October 11, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on CalAmp Corp. (NASDAQ: CAMP), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=CAMP, following the Company's announcement of its financial results on August 31, 2017, for the second quarter of the fiscal year 2018 (Q2 FY18). The Irvine, California-based provider of Internet of Things enablement solutions was awarded the largest SaaS contract in the Company's history during the reported quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
http://protraderdaily.com/register/
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CAMP. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/'symbol=CAMP
Earnings Reviewed
CalAmp reported revenues of $89.77 million for Q2 FY18 compared to $90.48 million for Q2 FY17; thereby reporting a less than 0.8% downside change in the revenue figures. However, the Company beat Wall Street's estimates of 88.7 million.
CalAmp's gross profit amounted to $36.84 million for Q2 FY18 compared to $37.61 million in Q2 FY17. The Company generated operating income of $3.13 million in Q2 FY18 compared to $3.91 million for Q2 FY17; thereby reporting a slightly negative change in figures.
CalAmp posted net income of $12.32 million in Q2 FY18 compared to $0.52 million in Q2 FY17. The Company's diluted earnings per share (EPS) stood at $0.34 for the reported quarter compared to $0.01 for the year-ago same period. Earnings, adjusted for one-time gains and costs, came in at $0.27 per share, beating Wall Street's expectations of $0.26 per share.
Segment Details
CalAmp has two business segments, namely: (i) Telematics Systems and (ii) Software and Subscription Service. The Telematics Systems segment reported revenues of $74.10 million for Q2 FY18 compared to $68.85 million for Q2 FY17. The Company's MRM Telematics revenue escalated to a record high of 29% to $38.1 million on a y-o-y basis, and was a key growth driver for the Telematics Systems segment.
The Software and Subscription Services segment, on the other hand, posted revenues of $15.70 million for Q2 FY18 compared to $14.96 million for Q2 FY17. A prior segment of the Company, The Satellite Business, terminated its operations on August 31, 2016.
Cash Matters
CalAmp's cash flow from operating activities amounted to $36.01 million for Q2 FY18 compared to $19.32 million for Q2 FY17. The Company reported strong operating cash flows, since CalAmp received net proceeds worth $15 million in June 2017 from a legal settlement with Company's subsidiary, Lojack's former supplier. The Company reported cash outflow of $1.78 million for Q2 FY18 compared to $54.87 million for Q2 FY17.
Outlook
CalAmp recently started shipments with new heavy equipment, OEM, which would contribute about $2 million to the revenue of FY18. The Company is aiming revenues to be in the range of $89 million - $94 million for the third quarter of the current fiscal year. CalAmp is estimating net income in the band of $0.28 to $0.34 per share and adjusted net income in the range of $0.27 to $0.33 per share.
Stock Performance
CalAmp's share price finished yesterday's trading session at $23.85, slightly up 0.21%. A total volume of 244.36 thousand shares have exchanged hands. The Company's stock price skyrocketed 22.37% in the last three months, 47.31% in the past six months, and 69.03% in the previous twelve months. Additionally, the stock soared 64.48% since the start of the year. Shares of the Company have a PE ratio of 238.50 and currently have a market cap of $823.30 million.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
