CalAmp Corp. (NASDAQ:CAMP) is engaged in the development and marketing of wireless communications solutions for critical networked applications. CAMP took a nosedive back in December. 2012 seems to be getting to a cautious start for CAMP on the market.
The crash came on December 23, 2011, when CAMP issued its profit outlook. It wasn’t all bad really – eps from $0.06 to $0.10. Still, it was obviously very disappointing for some investors and CAMP closed down 17.93% on a huge volume of 1.2 million shares.
The company had filed its quarterly report the previous day. It showed that revenue from CalAmp’s satellite business was down quarter over quarter, but apart from that the numbers were mostly positive. For the quarter ended Nov. 30, CAMP recorded $1.7 million net income. For the nine months ended the same date, net income was approximately $3.6 million, and for the same period of the previous year CAMP had a $3.6 million loss.
CAMP stock has managed to regain some positions after the Dec. 23 crash. Today it has started the session on a positive note (up 1.36% at the time of this writing). About an hour ago the company issued a press release saying it had been chosen by Elster (NYSE:ELT) to be the supplier of the wireless routing hardware and network services for Tennessee’s Bolivar Energy Authority (BEA).
It will be interesting to see whether this will get CAMP back on the way up, or the disappointed investors will remain unhappy because of the profit outlook.