OXNARD, CA, Jun 01, 2011 (MARKETWIRE via COMTEX) --
CalAmp Corp. (NASDAQ: CAMP), a leading provider of wireless
products, services and solutions, today announced increased financial
guidance for the fiscal 2012 first quarter ended May 31, 2011.
The Company expects to report fiscal 2012 first quarter consolidated
revenues in the range of $34.0 to $34.5 million and GAAP basis
earnings per diluted share of $0.01 to $0.02. This compares to the
Company's first quarter business outlook provided on April 28, 2011
that projected fiscal 2012 first quarter consolidated revenues in the
range of $31 to $34 million and GAAP basis earnings per diluted share
in the range of a $0.01 loss to $0.02 income.
Michael Burdiek, President and Chief Executive Officer of CalAmp,
commented, "We saw strong performance from both our Wireless Datacom
and Satellite businesses in the first quarter, and we anticipate
year-over-year growth in both businesses during fiscal 2012. Our
pipeline of sales opportunities continues to expand as we execute our
global product and marketing strategy."
CalAmp will provide its complete financial results in its fiscal 2012
first quarter earnings release and conference call, the date of which
will be announced soon.
About CalAmp
CalAmp develops and markets wireless communications
solutions that deliver data, voice and video for critical networked
applications. The Company's two business segments are Wireless
DataCom, which serves utility, government and enterprise customers,
and Satellite, which focuses on the North American Direct Broadcast
Satellite market. For more information, please visit www.calamp.com.
Forward-Looking Statements
Statements in this press release that
are not historical in nature are forward-looking statements that
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 product demand,
competitive pressures and pricing declines in the Company's satellite
and wireless datacom markets, the timing of customer approvals of new
product designs, the length and extent of the global economic
downturn that has and may continue to adversely affect the Company's
business, and other risks or uncertainties that are described in the
Company's Report on Form 10-K for fiscal 2011 as filed on April 28,
2011 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.
AT THE COMPANY:
Rick Vitelle
Chief Financial Officer
(805) 987-9000
AT FINANCIAL RELATIONS BOARD:
Lasse Glassen
General Information
(213) 486-6546
lglassen@mww.com
SOURCE: CalAmp Corp.
mailto:lglassen@mww.com