Why CalAmp Stock Jumped Today
Shares of CalAmp (NASDAQ: CAMP) have jumped today, up by 7% as of 12:50 p.m. EDT, after the company reported fiscal fourth-quarter earnings. The results topped expectations for both the top and bottom lines.
Revenue in the fiscal fourth quarter ended February came in at $87.2 million, ahead of the $85.9 million in sales that Wall Street was looking for. That translated into adjusted earnings per share of $0.03, $0.01 better than what analysts were forecasting. The COVID-19 pandemic is impacting the wireless tech company's supply chain, and demand for mobile resource management (MRM) telematics products has been soft, but investors had already priced that in after CalAmp had provided updates in March.
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Source Fool.com
