By Ben Glickman
Shares of CalAmp slid Thursday after the company’s second-quarter revenue fell more than expected.
The stock was down 18% to 37 cents in after-hours trading, after rising 7% at Thursday’s close. Shares are down about 90% this year.
The Irvine, Calif.-based asset-tracking software company reported a loss of $4.2 million, or 11 cents a share, in the three months ended Aug. 31, compared with a loss of $7.5 million, or 21 cents a share, a year earlier.
CalAmp’s revenue fell about 15% to $61.7 million, missing the $70.4 million forecast by analysts polled by FactSet.
The company expects fiscal third-quarter revenue and adjusted earnings before interest, taxes, depreciation and amortization to fall slightly sequentially.
Write to Ben Glickman at [email protected]
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