Shares of CalAmp Corp. soared in aftermarket trading Thursday after the wireless products provider said it moved from a loss to a better-than-expected earnings in its fiscal first quarter.

After the Thursday markets closed, the Oxnard developer and marker of routers, modems and other devices, reported net income of $500,000 (2 cents per share) for the quarter ended May 31, compared with a net loss of $2.5 million (9 cents) a year earlier. Revenue rose more than 31 percent to $34.6 million on stronger sales in its wireless data-com and satellite businesses.

Adjusted for one-time items, net income was $1.4 million (5 cents). Analysts surveyed by Thomson Reuters expected the company to report adjusted per-share profit of 1 cent on revenue of $34.3 million.

Chief Executive Michael Burdiek noted that net cash provided by operations of $2.3 million helped reduce the company’s net debt balance by $2.1 million to $5.6 million.

“We’re off to a strong start in fiscal 2012,” he said in a statement. “These improvements provide us with added financial flexibility and should further enable our growth objectives going forward.”

The company expects fiscal second-quarter revenues in the range of $31 to $35 million, with wireless datacom revenues up sequentially and satellite revenues down from the first quarter. It also expects GAAP net income in the range of 1 to 5 cents per share, or 7 to 11 cents on an adjusted basis.

Shares earlier closed up 5 cents, or 1.7 percent to $3.03 on the Nasdaq and were up 22 percent in after-hours trading.