CalAmp Corp. (CAMP) reported first-quarter net income of $4.2 million or $0.14 per share, compared to $520 thousand or $0.02 per share in the prior year's first quarter.
On an adjusted basis, net income for the quarter was $5.3 million or $0.18 per share, up from $1.4 million or $0.05 per share in the same period last year.
Total revenues for the quarter grew 27% to $43.86 million from $34.55 million in the comparable quarter last year.
Looking forward to the second quarter, the company expects net income in the range of $0.09 to $0.13 per share, adjusted net income in the range of $0.13 to $0.17 per share, and consolidated revenues in the range of $41 million to $45 million.
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