CalAmp Corp. late Thursday said that its third quarter loss narrowed on higher sales of its satellite communications products, which includes broadcast equipment for digital and high-definition satellite TV.
After the markets closed, the Oxnard communications systems maker reported a net loss of $1.32 million (-5 cents per share) for the quarter ended Nov. 30, compared with a net loss of $1.84 million (-7 cents) last year.
Adjusted net income was $185,000 (1 cent) compared with a net loss of $741,000 (-3 cents) the year earlier.
Revenue rose 19 percent to $30.7 million as sales of its satellite products and services offset a slight drop in sales of wireless datacom systems, which enable first responders, such as emergency medical technicians, to access data and communicate with dispatchers and others.
“In light of recent new order bookings and an increase in backlog, we believe this business is poised to rebound over the next several quarters." said Chief Executive Officer Rick Gold.
The company expects fourth quarter revenue to be in the range of $32 million to $36 million, with a net loss in the range of 1 cent to 5 cents per share. Adjusted net income is expected to be in the range of a loss of 2 cents to income of 2 cents.
Shares earlier closed up 22 cents, or 6 percent, to $3.72 on the Nasdaq.
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