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CalAmp Corp. (Nasdaq: CAMP) is a pioneering leader in the Internet of Things (IoT) revolution, offering a rich portfolio of intelligent communication devices, a robust cloud platform, and bespoke software applications. The company specializes in helping customers optimize their operations by collecting, monitoring, and efficiently reporting critical data and intelligence from high-value remote assets.
With over five million devices connected to its IoT cloud, CalAmp serves a diverse range of markets including transportation, oil and gas, and public safety. The company’s technology enables organizations to make actionable decisions based on mission-critical data. Its Telematics Systems segment provides Mobile Resource Management (MRM) products and applications, while the Software & Subscription Services segment delivers cloud-based application enablement and telematics service platforms.
Recent achievements highlight CalAmp's commitment to innovation and financial stability. In its latest financial quarter, the company generated a positive cash flow from operations amounting to $7.1 million and achieved a robust Adjusted EBITDA of $5.9 million. New product releases such as Vision 2.0 and ELD solutions have been key drivers of growth. Furthermore, CalAmp recently secured a $45 million term loan to support its transformative business strategies.
CalAmp's strategic initiatives include a focus on enhancing operational efficiencies and capturing new market opportunities, despite facing revenue headwinds in specific segments like TSP. The company continues to work closely with its partners to navigate competitive pressures and align inventory levels with market demand.
Looking forward, CalAmp aims to return to profitable growth by leveraging its strong product portfolio, including over 10 million active edge devices and more than 275 approved or pending patents. The company’s significant investment in R&D ensures that it remains at the forefront of telematics innovation, providing dependable solutions that improve efficiency, safety, and compliance for both commercial and government organizations worldwide.
For more information, please visit www.calamp.com.
CalAmp (Nasdaq: CAMP) introduced the SC1302 smart tracking device capable of monitoring temperatures as low as -20°C, aimed at ensuring safe transport of COVID-19 vaccines and other sensitive goods. The device integrates with CalAmp's SC iOn™ Supply Chain Visibility software for real-time monitoring throughout the supply chain. The new sensor meets critical compliance requirements and enhances shipment tracking and data collection. Initial shipments are expected in the first half of 2021, showcasing CalAmp's commitment to supporting critical logistics in today's healthcare landscape.
CalAmp (NASDAQ: CAMP) has partnered with Hendy, a car retail group in England, to offer a Stolen Vehicle Recovery (SVR) device from Tracker to its customers. This Thatcham-approved device aims to protect vehicles against theft, particularly keyless theft, which accounted for 93% of stolen vehicles in 2020. Tracker, with its advanced VHF and GPS technology, aids in the recovery of stolen vehicles, boasting over £561 million recovered and a monthly average of £1 million. This partnership enhances customer service and retention while providing a new revenue stream for Hendy.
CalAmp (Nasdaq: CAMP) will release its fiscal 2021 fourth quarter and full year results on April 22, 2021, after market close. The company will host a conference call at 4:30 p.m. Eastern to discuss the financial outcomes, accessible via webcast on their investor relations website. Participants can also join by calling 1-833-714-0868. An audio replay will be available until April 29, 2021. CalAmp, a leader in the mobile connected economy, provides innovative solutions for IoT deployments, boasting over 20 million products installed globally.
CalAmp (Nasdaq: CAMP) has announced the appointment of Henry J. Maier, CEO of FedEx Ground, to its Board of Directors, effective June 1, 2021. Maier brings over 40 years of experience, including significant roles at FedEx Corp., where he spearheaded the strategic direction of a $22.7 billion subsidiary. His seating on the board is seen as a strategic move to strengthen CalAmp's presence in the transportation and logistics markets. Both CalAmp's leadership and Maier expressed enthusiasm for leveraging telematics solutions to enhance fleet safety and performance.
CalAmp (Nasdaq: CAMP) announces a new partnership between its subsidiary, LoJack Italia, and CGTE, a leading dealer for Caterpillar machinery in Italy. This strategic agreement marks LoJack's entry into heavy equipment asset management in Italy. LoJack will install its dual technology Stolen Vehicle Recovery system and telematics devices on over 4,000 CGTE assets, enhancing theft protection and real-time data collection for fleet management. The collaboration aims to improve service quality and asset utilization for CGTE, strengthening both companies' positions in the connected economy.
CalAmp's subsidiary, Tracker, has partnered with Stoneacre Motor Group to address rising vehicle theft in the U.K. This partnership offers a Stolen Vehicle Recovery (SVR) service for customers, crucial as keyless car thefts increased by 27% over five years. Tracker aims to enhance customer loyalty by providing advanced security solutions. Stoneacre emphasizes family values and customer satisfaction, while introducing interest-free payment options for these services, making security accessible to all buyers. Tracker, supported by U.K. police, has recovered over £559 million in stolen vehicles.
CalAmp (Nasdaq: CAMP) announced the acquisition of its LoJack U.S. Stolen Vehicle Recovery business by Spireon, enhancing Spireon's position in aftermarket telematics while allowing CalAmp to focus on its SaaS initiatives. The deal ensures customer transition and service continuity, aligning with CalAmp's strategic goals. Spireon's Kahu technology will provide added value for auto dealers, improving service retention and recovery rates. CalAmp retains the LoJack International business and its patents, with further transaction details to be disclosed in an 8-K.
CalAmp (Nasdaq: CAMP) announces that Molly Maid, a leading residential cleaning franchise, has adopted the CalAmp iOn™ fleet tracking solution. This technology enhances real-time visibility into fleet activity, improving scheduling and customer service, especially during the pandemic. Over 500 Molly Maid vehicles are equipped with this GPS-based system, allowing for better routing and efficiency. Franchise owners report improved customer experiences and operational efficiency thanks to this partnership, which also adapts to shifting safety requirements.
CalAmp (Nasdaq: CAMP) has launched a new user-friendly interface for its iOn fleet and asset management solution, aimed at enhancing operational efficiencies for commercial, government, and construction sectors. This upgraded interface improves data accessibility, allowing fleet managers to make quicker, more informed decisions. Key features include real-time data insights, improved workflow efficiency, and an intuitive design that minimizes navigation difficulties. CalAmp aims to address common challenges faced by fleet operators, thereby driving cost savings and safety.
Alarm.com (Nasdaq: ALRM) has launched a new service called Connected Car, developed in partnership with CalAmp (Nasdaq: CAMP), allowing users to integrate vehicle status and home automation through a single mobile app. Compatible with most cars made since 1996, this device offers features like vehicle diagnostics, driving behavior monitoring, and theft alerts. Users can automate home functions based on the vehicle's location, enhancing security and convenience. Connected Car is available through authorized service providers in the U.S. and Canada.
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