OXNARD, Calif.--(BUSINESS WIRE)--Sept. 20, 2007--CalAmp Corp.
(NASDAQ:CAMP), a leading provider of wireless products, today
announced that it has filed complaints in the United States Federal
Court against Procon, Inc., Skywatch GPS LLC, and iMETRIK Solutions
Inc. for infringement of United States Patent Nos. 6,025,774 and
6,249,217 B1. The patents relate to a vehicle location system whose
purpose is to enable automobile dealers and finance companies to
locate and repossess vehicles serving as collateral on loans that go
into default. These patents were acquired by CalAmp through the
acquisition of the Aircept Vehicle Tracking business from AirIQ in
March 2007.
"We will protect our intellectual property rights and enforce our
patents by all appropriate means," stated Michael Burdiek, President
of CalAmp's Wireless DataCom Division. "Although we have developed a
licensing program for our technology that includes 'CalAmp Certified'
branding and co-marketing initiatives, it is unfortunate that some
companies have chosen to utilize our intellectual property without our
permission. This segment of the Vehicle Tracking market is lightly
penetrated by the advanced technological solutions we offer and it has
a significant opportunity for growth. The patents that we believe are
being exploited are a key element in enabling CalAmp to achieve the
financial and operational objectives of its Aircept Vehicle Tracking
business."
CalAmp's Aircept Vehicle Tracking business provides both equipment
and monitoring services for vehicle financing companies, including
'buy-here-pay-here' dealerships that specialize in automobile
financing for high credit risk individuals. According to the 2007
National Independent Automobile Dealers Association (NIADA) Used Car
Report, $75.8 billion in used car sales were financed in the United
States during 2006 as Grade C paper or lower. Based on the average
selling price for used cars, this represents an addressable market of
nearly 9 million vehicles.
About CalAmp Corp.
CalAmp is a leading provider of wireless communications products
that enable anytime/anywhere access to critical information, data and
entertainment content. With comprehensive capabilities ranging from
product design and development through volume production, CalAmp
delivers cost-effective high quality solutions to a broad array of
customers and end markets. CalAmp is a supplier of Direct Broadcast
Satellite (DBS) outdoor customer premise equipment to the U.S.
satellite television market. The Company also provides wireless data
communication solutions for the telemetry and asset tracking markets,
private wireless networks, public safety communications and critical
infrastructure and process control applications. For additional
information, please visit the Company's website at www.calamp.com.
Forward-Looking Statement
Statements in this press release that are not historical in nature
are forward-looking statements, which involve known and unknown risks
and uncertainties. Words such as "may", "will", "expect", "intend",
"plan", "believe", "seek", "could", "estimate", "judgment",
"targeting", "should", "anticipate", "goal" and variations of these
words and similar expressions, are intended to identify
forward-looking statements. Actual results could differ materially
from those implied by such forward-looking statements due to a variety
of factors, including general and industry economic conditions,
product demand, increased competition, competitive pricing and
continued pricing declines in the DBS market, the timing of customer
approvals of new product designs, operating costs, the Company's
ability to efficiently and cost-effectively integrate its acquired
businesses, the Company's ability to obtain a waiver from the lenders
under its bank credit agreement of the event of default under the
credit agreement, the Company's ability to successfully requalify with
respect to the sale of newer generation products to one of its key DBS
customers, the risk that the ultimate cost of resolving a product
performance issue with that DBS customer may exceed the amount of
reserves established for that purpose, and other risks or
uncertainties that are described in the Company's fiscal 2007 Annual
Report on Form 10-K on May 17, 2007 with the Securities and Exchange
Commission. Although the Company believes the expectations reflected
in such forward-looking statements are based upon reasonable
assumptions, it can give no assurance that its expectations will be
attained. The Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT:
CalAmp Corp.
Rick Vitelle -
Chief Financial Officer -
805-987-9000
or
Financial Relations Board
Lasse Glassen
General Information -
213-486-6546 -
lglassen@frbir.com
SOURCE: CalAmp Corp.