2023-07-10 16:07:30 ET
- CalAmp press release ( NASDAQ: CAMP ): Q1 GAAP EPS of -$0.11 beats by $0.03 .
- Revenue of $70.89M (+9.6% Y/Y) misses by $4.77M .
- Quarter End Remaining Performance Obligations of $217.5 million, down sequentially by $20 million, driven by a few customers making contract modifications.
- Telematics Products backlog was at $20 million, down sequentially by $9 million, reflecting improved supply.
- Gross margin in the quarter increased 280 basis points sequentially to 38.2% as product mix shifted to higher margins.
- Adjusted EBITDA was flat sequentially at $6.0 million in the quarter, or approximately 9% of revenue, driven by improved gross margins and cost control.
- Shares -2.73% .
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CalAmp GAAP EPS of -$0.11 beats by $0.03, revenue of $70.89M misses by $4.77M