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CalAmp Chief Executive Michael Burdiek

CalAmp Chief Executive Michael Burdiek

CalAmp Corp. (Nasdaq: CAMP) topped Wall Street estimates in revenue and operating income in the February quarter, reporting after the market closed.

The Irvine-based company, which specializes in telematics products and services, reported record revenue of $94.4 million, up 9.6% from a year ago and topping the mean forecasts of eight analysts of $93.6 million as aggregated by Yahoo Finance. Operating income hit $13 million, or 30 cents per share, up from $12.8 million and topping the consensus of 29 cents per share.

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The quarterly revenue gains were driven by its Mobile Resource Management telematics product and its LoJack Italia business. The company in 2016 acquired LoJack Corp. in Canton, Mass. for $134 million, adding a strong distribution network and brand in the used car dealership market, as well as vehicle theft recovery systems production and fleet telematics, the all-encompassing term for monitoring assets remotely, typically autos.

For the full fiscal year, CalAmp posted sales of $365.9 million, up 10% year-over-year. Operating income was $52.3 million, up 6.1%.

The company provided revenue and operating income guidance for the May quarter in line with Wall Street expectations.

CalAmp projects 1Q revenue between $91 million and $95 million, and earnings between 26 cents and 32 cents per share.

CAMP stock up 2% at the close of intraday trading, with a market cap of about $825.7 million—a tenfold increase over the last ten years, when CalAmp’s market value was in the $80-$85 million range.