March 5, 2020 / 2:22 PM / 24 days ago

BRIEF-CalAmp Expects Revenue For Quarter To Be Below Its Original Guidance

March 5 (Reuters) - CalAmp Corp:

* CALAMP UPDATES FISCAL 2020 FOURTH QUARTER REVENUE OUTLOOK

* EXPECTS REVENUE FOR QUARTER TO BE BELOW ITS ORIGINAL GUIDANCE

* CUT Q4 REVENUE GUIDANCE DUE TO CONFLUENCE OF FACTORS INCLUDING EFFECT OF CORONAVIRUS OUTBREAK IN CHINA ON ITS SUPPLY CHAIN AND RELATED TRANSITIONS

* DURING Q4, EXPERIENCED SIGNIFICANT SUPPLY SHORTAGES AND SOFTER THAN EXPECTED DEMAND FOR MRM TELEMATICS PRODUCTS

* CALAMP - WERE UNABLE TO SHIP UNUSUALLY HIGH PORTION OF EXISTING MRM BACKLOG LATE IN Q4, RESULTING IN $8 MILLION INCREASE IN BACKLOG FROM Q3 END

* EXPECT TO ACHIEVE GOAL OF AT LEAST $120 MILLION IN SAAS REVENUE FOR 2020

* SEES Q4 GAAP REVENUES OF $85 MILLION-$87 MILLION

* Q4 REVENUE VIEW $97.1 MILLION — REFINITIV IBES DATA Source text for Eikon: Further company coverage:

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