SOURCE: CalAmp Corp.

CalAmp Corp.

April 05, 2010 07:00 ET

CalAmp Announces $15.2 Million in New Contracts for Its Wireless Networks Business

OXNARD, CA--(Marketwire - April 5, 2010) -  CalAmp Corp. (NASDAQ: CAMP), a leading provider of wireless products, services and solutions, today announced that its Wireless Networks business has entered into three new supply contracts with an aggregate value of $15.2 million, increasing the backlog of this business to a record level. The three contracts are with customers in the Rail Transportation, Public Safety and Utility Smart Grid sectors. Work on each contract is expected to begin immediately with the majority of the revenues expected to be recognized in the current and next fiscal year.

"These three bookings for our Wireless Networks products and services lay the foundation for a rebound in this segment," said Michael Burdiek, CalAmp's Chief Operating Officer. "The contracts announced today, along with our expanding pipeline of other new opportunities, lead us to believe that our Wireless Networks infrastructure business will be back on a growth trajectory this year."

About CalAmp Corp.
CalAmp provides wireless communications solutions that enable anytime/anywhere access to critical data and content. The Company serves customers in the public safety, industrial monitoring and controls, mobile resource management, public utilities and direct broadcast satellite markets. The Company's products are marketed under the CalAmp, Dataradio, SmartLink, Aercept, LandCell and Omega trade names. For additional information, please visit www.calamp.com.

Forward-Looking Statement
Statements in this press release that are not historical in nature are forward-looking statements that involve known and unknown risks and uncertainties. Words such as "may," "will," "expect," "intend," "plan," "believe," "seek," "could," "estimate," "judgment," "targeting," "should," "anticipate," "goal" and variations of these words and similar expressions, are intended to identify forward-looking statements. These forward-looking statements reflect the Company's current views with respect to future events and financial performance and are subject to certain risks and uncertainties, including, without limitation, competitive pressures, rapidly changing technologies, and other risks and uncertainties that are described under the caption "Risk Factors" in the Company's Registration Statement on Form S-3 filed with the Securities and Exchange Commission on January 20, 2010 and in other filings made from time to time with the SEC. Such risks and uncertainties could cause actual results to differ materially from historical or anticipated results. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • AT THE COMPANY:
    Garo Sarkissian
    VP Corporate Development
    (805) 987-9000

    AT FINANCIAL RELATIONS BOARD:
    Lasse Glassen
    General Information
    (213) 486-6546
    Email Contact