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CalAmp Reports Q4 2017 Revenue and EPS Year Over Year Growth, Shares Pop

Jason BondJason Bond ·

CalAmp Corp. (NASDAQ: CAMP) shares closed up over 13% on the day, after the company reported growth in its 4Q 2017 revenue and FY 2017 revenue. Moreover, it reported growth in its Q4 2017 gross margin. Let’s move onto the company’s financial results.

CalAmp Q4 2017 and FY 2017 Revenue

CalAmp reported 4Q 2017 revenue of $86.1M, which was an increase of over 22% from its 4Q 2016 revenue. Now, LoJack contributed $27.8M to its 4Q 2017 revenue. The company’s gross profit for the quarter was $35.8M, and increase of nearly 30% from its gross profit of $27.6M in 4Q 2016. The company reported a non-GAAP 4Q 2017 net income of $9.9M, or 28 cents per diluted share, which was lower than its non-GAAP 4Q 2016 net income of $11.7M, or 32 cents per diluted share. The company reported an adjusted EBITDA for 4Q 2017 of $12.8M, which was a 6.57% decrease from its figure for 4Q 2016.

Now, for the FY 2017, CalAmp reported revenue of $351.1M, an increase of 25% over its FY 2016 revenue, which included revenue of $117.5M from LoJack. Now, excluding the company’s discontinued Satellite business, its FY 2017 revenue was up nearly 40% year over year. CalAmp reported gross profit for FY 2017 of $143.4M, an increase of just over $40M, year over year.

For the 2017 fiscal year, the company reported non-GAAP adjusted basis net income of $38.6M, or $1.06 per diluted share, which was slightly below its non-GAAP adjusted basis net income of $42.4M in the 2016 fiscal year.

Some operation and financial highlights included 90% growth in international revenue, FY 2017 recurring revenue grew 90% year over year.

CalAmp also issued guidance for 1Q 2018, and it projects its consolidated revenue to be in a range between $84M and $90M. Moreover, it expects to report non-GAAP net income between a range of 24 cents and 32 cents per diluted share.

CAMP Statistics and Valuation Ratios

CAMP traded in a range between $16.40 and $18.25 today. CAMP traded between $12.13 and  $18.25, over the past 52 weeks. After the company announced its revenue growth and guidance, the stock ended up over 10%, and made a new 52-week high. Consequently, it’s just over 1% below its 52-week high and over 45% above its 52-week low. CAMP is currently trading above both its 20-, 50-, 200-day simple moving averages.

Take a look at CAMP’s performance on the daily chart:

Source: Investing.com

CAMP Statistics and Valuation Ratios

CAMP has a P/E ratio of over 350, which is well above the industry average of 24.9. Moreover, CalAmp Corp. currently has a book value per share of 4.749, and therefore, CAMP had a P/B ratio of around 3.8, which is above the industry average of 2.1. CAMP has a price-to-revenue ratio of 1.9. CAMP has a forward price-to-revenue, based on next year’s revenues estimates, of 1.8.

Final Thoughts

Although CalAmp reported a decrease in its non-GAAP diluted EPS, it seems as if market participants placed more emphasis on its revenue growth and guidance. Consequently, shares were up significantly on the day. Now, the next earnings event will be interesting, as we could figure out if its revenue is trending higher.

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