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CalAmp: Fiscal Q1 Earnings Snapshot

June 23, 2022 GMT

IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Thursday reported a loss of $12.2 million in its fiscal first quarter.

The Irvine, California-based company said it had a loss of 34 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 10 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The wireless communications company posted revenue of $64.7 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $69.6 million.

CalAmp shares have climbed 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.14, a fall of 48% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAMP at https://www.zacks.com/ap/CAMP