IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Tuesday reported a fiscal fourth-quarter loss of $3.5 million, after reporting a profit in the same period a year earlier.
The Irvine, California-based company said it had a loss of 10 cents per share. Earnings, adjusted for one-time gains and costs, came to 28 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 28 cents per share.
The wireless communications company posted revenue of $86.1 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $86 million.
For the year, the company reported a loss of $7.2 million, or 20 cents per share, swinging to a loss in the period. Revenue was reported as $351.1 million.
For the current quarter ending in June, CalAmp expects its per-share earnings to range from 24 cents to 32 cents.
The company said it expects revenue in the range of $84 million to $90 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $88.2 million.
CalAmp shares have risen nearly 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.90, a decline of 7 percent in the last 12 months.
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
Keywords: CalAmp, Earnings Report
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