CalAmp slumps on Q1 revenue miss
23/06/2022 21:46
** Wireless communications solutions provider CalAmp's
CAMP.O shares down as much as 13.65% at $6.2 in extended
trading
** Co posts Q1 total revenue of $64.7 mln, missing Refinitiv
IBES estimates of $69.4 mln urn:newsml:reuters.com:*:nGNX4fLkNM
** Says revenue from its Telematics Products segment
declined as customers shifted to recurring software subscription
arrangements and due to ongoing component shortages
** CO's Q1 gross margin was also lower, pressured in part by
cost increases resulting from the supply chain constraints
(Reporting by Rithika Krishna in Bengaluru)
((Rithika.Krishna@thomsonreuters.com; Twitter: https://twitter.com/rithika_krishna;))
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