CalAmp Corp. shares fell in the extended session Monday after the wireless communications device company trimmed its revenue outlook for the quarter. CalAmp shares fell 7.7% to $17.75 after hours. The company forecast revenue of about $71 million, down from a previous estimate of $73 million to $78 million, for the fourth quarter, and $86 million to $94 million for the first quarter. The first-quarter estimate includes 10 weeks of revenue from LoJack Corp., which the company acquired, CalAmp said. Analysts surveyed by FactSet had forecast revenue of $75.9 million for the fourth quarter and $74.9 million for the first quarter.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News