IRVINE, Calif. (AP) _ CalAmp Corp. (CAMP) on Thursday reported a loss of $7.4 million in its fiscal second quarter.
The Irvine, California-based company said it had a loss of 22 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to 14 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The wireless communications company posted revenue of $93.2 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $91.4 million.
For the current quarter ending in December, CalAmp expects its per-share earnings to range from 11 cents to 17 cents.
The company said it expects revenue in the range of $92 million to $98 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $94.5 million.
CalAmp shares have decreased almost 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.74, a fall of 48% in the last 12 months.