CalAmp slumps after Q3 results miss estimates

CalAmp

21/12/2021 22:57

** Shares of wireless communications solutions provider
 CAMP.O  down 13% at $9.9 after the bell following results 
    ** CAMP Q3 revenue fell 12% to $69 mln from a year ago,
missing analysts' estimates of $77.6 mln - Refinitiv data
 urn:newsml:reuters.com:*:nPn63KmMfa
    ** Co reports adjusted loss/shr of $0.08, while analysts
expected earnings of $0.08/share
   ** "The ongoing global component shortages have been more
pronounced than expected, causing a significant reduction in our
shipments during the quarter," says Jeff Gardner, CalAmp's
president and CEO 
    ** Five of 6 brokerages rate the stock "buy" or higher, one
"sell"; their median PT is $15.5

 (Reporting by Kannaki Deka in Bengaluru)
 ((Kannaki.Deka@thomsonreuters.com))