Calamp Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended February 28, 2015; Provides Earnings Guidance for the First Quarter and Fiscal Year 2016
Apr 21 15
CalAmp Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended February 28, 2015. For the quarter, the company reported revenue of $69,190,000 against $59,847,000, last year. Operating income was $8,848,000 against $4,677,000, last year. Income before income taxes was $8,833,000 against $4,572,000, last year. Net income was $6,516,000 or $0.18 per basic and diluted share against $3,067,000 or $0.08 per diluted share, last year. Non-GAAP basis pretax income was $11,647,000 against $7,056,000 a year ago. Adjusted basis net income was $11,561,000 or $0.32 per diluted share against $7,115,000 or $0.20 per diluted share a year ago. Adjusted EBITDA was $12,364,000 against $7,594,000 a year ago. Significant contributors to the strong fourth quarter were the record quarterly revenues posted by the MRM products business as well as increased shipments of telematics devices to the key OEM customer in the heavy equipment industry. Continued improvements in the gross margins, coupled with in line operating expenses, propelled the fourth quarter Adjusted EBITDA margin to 18% and the operating cash flow to $7.7 million.
For the year, the company reported revenue of $250,606,000 against $235,903,000, last year. Operating income was $24,940,000 against $18,343,000, last year. Income before income taxes was $24,800,000 against $17,911,000, last year. Net income was $16,508,000 or $0.0.45 per diluted share against $11,803,000 or $0.33 per diluted share, last year. Net cash provided by operating activities was $28,645,000 against $22,816,000 a year ago. Capital expenditures were $7,437,000 against $1,852,000 a year ago. Non-GAAP basis pretax income was $35,490,000 against $27,779,000 a year ago. Adjusted basis net income was $35,162,000 or $0.96 per diluted share against $27,692,000 or $0.77 per diluted share a year ago. Adjusted EBITDA was $38,358,000 against $29,305,000 a year ago.
The company expects to achieve consolidated revenue in the range of $63 to $67 million. At the bottom line, the company expects first quarter GAAP-basis net income in the range of $0.10 to $0.14 per diluted share and non-GAAP net income in the range of $0.24 to $0.28 per diluted share.
The company also expects both revenue and earnings to gain momentum as fiscal 2016 progresses, exceeding the impressive milestones established in this past fiscal year.
CalAmp Unveils Vanguard 5530 Multi-Band Router for Verizon XLTE Network
Apr 20 15
CalAmp Corp. has unveiled the Vanguard 5530 multi-band router to offer an extended set of LTE frequency bands for cellular wireless networks, including the Verizon XLTE network. The general-purpose, cellular router combines best-in-class speed and low latency in a ruggedized industrial-grade design with optional Wi-Fi and high-precision GPS, making it ideal for a broad array of mobile and fixed applications across a variety of markets. It is designed to meet industry standards including UL Class 1, Division 2 and MIL-STD-810G, enabling wireless connectivity in the most challenging environmental conditions. "This is a full-featured router that supports a variety of applications in the industrial, energy, transportation and government markets as well as more horizontal enterprise data sectors," said Mike Zachan, Senior vice president and General Manager of CalAmp's Wireless Networks business. Vanguard integrates seamlessly with DeviceOutlook, CalAmp's proven cloud-based enterprise-grade remote management and control application, as a complete solution for managing large-scale router deployments. The best-in-class LTE broadband speed is coupled with 802.11n, dual Ethernet ports, serial interfaces and extensive I/Os to connect to a broad set of fixed and mobile assets, while 3G fallback provides ubiquitous network connectivity for reliable service. Vanguard is enabled with the latest security features including IPSEC, GRE Tunneling, PPTP, VPN and RADIUS authentication, delivering simultaneous support for data and video applications with robust, secure communications. In addition, the new Vanguard device continues to support customized applications on CalAmp's embedded Linux-based Open Developer Platform for the utmost versatility and expandability.
CalAmp Enters into Preferred Partnership Agreement with Magellan
Apr 15 15
CalAmp announced a preferred partnership agreement with Magellan to bundle Magellan's professional-grade navigation software with CalAmp's MDT-7 Android-based mobile data terminal. This partnership provides fleet operators in the U.S. and Canada with access to advanced features such as turn-by-turn navigation, speed limit and speed alert notifications, integrated safety options, trip planning enhancements and an array of fleet-specific value-added cloud services. The CalAmp MDT-7 Android mobile data terminal is now available bundled with one of two Magellan navigation software packages out of the box. With the first package, customers can select Magellan's Fleet Navigation application, which provides an array of trucking and fleet attributes ideal for commercial operations including route optimization based on customized vehicle profiles, highway lane assist to safely navigate complex highway interchanges, and fully integrated points of interest such as truck stops, lodging and weigh stations. With the second package, customers can select the Fleet Consumer Navigation variant for automotive fleet implementations such as taxis and limousines that do not require commercial trucking attributes. CalAmp will also be making Magellan cloud service packages available that provide access to features such as real-time fuel pricing, map updates, weather, traffic reports and alerts. Customers will now have the ability to address key business and regulatory requirements such as state mileage tracking for IFTA fuel logging and hours of service (HOS) tracking and reporting through their CalAmp MDT-7 Android mobile data terminal. CalAmp and Magellan are also working to make the fleet-specific cloud services offering available to a wider audience through aftermarket channels including the CalAmp Appstore and Magellan's online portal.