Research In Motion Reports Loss, CalAmp Q1 Profit Jumps (CAMP, RIMM)
CalAmp Corp. (NASDAQ:CAMP) reported results for its first quarter ended May 31, 2012. The company posted first-quarter net income of $4.2 million or $0.14 per share, as compared to $520 thousand or $0.02 per share in the prior year’s first quarter. Adjusted net income for the quarter was $5.3 million or $0.18 per share, up from $1.4 million or $0.05 per share in the same period last year. Total revenues for the quarter grew 27% to $43.86 million from $34.55 million in the same quarter last year.
Looking forward, the company expects second quarter 2013 consolidated revenues in the range of $41 to $45 million, GAAP basis net income in between $0.09 to $0.13 per diluted share and non-GAAP net income (EPS) in the range of $0.13 to $0.17 per diluted share. Analysts were expecting the company to report revenue of $41 million and EPS of $0.11 for the second quarter of 2013.
Research In Motion Limited (USA) (NASDAQ:RIMM) stock plunged 13.91% to $7.86 in the after hour trading after the company posted a sharp drop in sales for its fiscal first quarter and said it was pushing back the planned launch of its BlackBerry 10 operating system to early next year.
The company reported a first quarter net loss of $518 million, or $0.99 a share, as compared with net income of $695 million, or $1.33 a share, for the same period last year. Adjusted net loss was $192 million, or $0.37 a share, for the quarter. Revenue slid by 43% to $2.8 billion for the quarter. Analysts were expecting a net loss of $0.01 per share on revenue of $3.1 billion for the period.
Looking forward, the company expects to report an operating loss in second quarter of 2013 results. Analysts on an average were expecting the company to report operating loss of $(64.21) for the second quarter of 2013.
Additionally, Research In Motion, Ltd. is also cutting 5,000 jobs and delaying the launch of its new phone operating system, BlackBerry 10, until after the holiday shopping season. RIM CEO Thorsten Heins said that after several delays, the first phone with BlackBerry 10 was expected later this year. However it will be delayed even longer, to the first quarter of next year.