CalAmp Corp. (NASDAQ:CAMP) Q1 2020 Earnings Conference Call Transcript

Jun 27, 2019 • 04:30 pm ET

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CalAmp Corp. (NASDAQ:CAMP) Q1 2020 Earnings Conference Call Transcript

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Presentation
Executive
Kurt Binder

an income tax provision of $1.8 million representing 17% of our reported GAAP basis pre-tax net income. Throughout fiscal 2020, we do not expect any material changes to our cash taxes due to our remaining federal net operating losses and other available tax credits.

Now turning to our fiscal 2020 second quarter outlook, we expect second quarter consolidated revenue to increase to a range of between $89.5 million to $94.5 million. At the bottom line, we expect the second quarter GAAP basis net loss to be in the range of $0.27 per share to $0.21 per share and non-GAAP net income to be in the range of $0.08 per diluted share to $0.14 per diluted share reflecting an incremental $1.6 million of depreciation expense principally associated with the recent acquisitions. We also expect second quarter adjusted EBITDA to be in the range of $7.5 million to $11.5 million.

With that, I'll turn the call back over to Michael to provide some final comments before we open the call up for questions.

Executive
Michael Burdiek

Thank you, Kurt. Looking forward, we believe the fiscal first quarter represents an inflection point in our business with a positive outlook of increasing revenue and EBITDA growth as we move into the second half of the fiscal year. We made substantial progress this quarter in building a solid base of software and subscription service revenue and believe that we are tracking well towards our long-term target of $200 million of annual recurring revenue.

With that, we'll now open up the call to questions. Operator?