CalAmp falls on Q2 revenue miss amid ongoing component shortage

CalAmp

23/09/2021 23:21

** Shares of wireless communications solutions provider
 CAMP.O  fell 12.4% to $8.80 after the bell - on track to hit
lowest levels since November 2020 if losses hold 
    ** For Q2, co generated revenue of $79 mln, nearly missing
analysts' expectations of $79.9 mln - Refinitiv 
    ** CEO Jeff Gardner says "persistent component shortages in 
supply chain have limited ability to fully ship against backlog"
 urn:newsml:reuters.com:*:nPn3w4fMqa 
    ** Co did not provide Q3 outlook, citing uncertainty in
product shipments due to global component supply shortages
    ** On an adj. non-GAAP basis, CAMP made a profit of 8
cents/share, above analysts' expectations of 6 cents/share -
Refinitiv 
    ** Up to Thursday's close, stock up ~6.5% YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com;))