CalAmp Corp. (NASDAQ:CAMP) Q2 2021 Earnings Conference Call - Final Transcript

Sep 24, 2020 • 04:30 pm ET

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CalAmp Corp. (NASDAQ:CAMP) Q2 2021 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

[Operator Instructions] Our first question comes from Mike Latimore with Northland Capital Markets. Your line is open.

Analyst
Mike Latimore

Thanks, Jeff. And congratulations on the solid quarter there. So I just wanted to touch on, you gave a little bit of color around third quarter dynamics. It sounded like sort of positive offsetting weakness. So should we think about it as kind of a 3Q being similar to 2Q?

Executive
Jeff Gardner

Yeah, Mike, and thanks for your comment on the quarter. We were real pleased as you saw, particularly, you know what we're trying to do here in terms of transformation. So the SaaS business came in real strong. Some of that was backlog as Kurt referred to, but we also had some fairly strong demand in LoJack International and also in our K-12 Here Comes The Bus business. So that was very solid, and another real strong quarter with Caterpillar, as they continue their 4G migration. And so I think those are the strong points. And as Kurt mentioned, MRM continues to be soft related to the regional TSPs and kind of their outlook. These are smaller companies that are just being more cautious understandably in this environment.

So as we look forward, I think we'll see more of that to come, continued strength in the SaaS business, continued strength in Caterpillar going forward. And we're really focused on accelerating some of the 4G work that we know is in front of us. So whether or not, our customers have moved forward with 4G today or not, we know there is still a big opportunity there. And so, working with them as they kind of navigate through these difficult times will be important. But overall, I mean, yeah, it's kind of a mixed approach, but on average we're feeling really good about how we performed in the quarter.

Analyst
Mike Latimore

Great. And then on the school environment, can you talk a little bit about maybe just segment out kind of how much access you have within the school districts? Are you back to kind of complete access for -- at normal deployment opportunities and then separately, what does the sort of the new deal flow look like there?

Executive
Jeff Gardner

Yeah, the school market has been a great surprise in terms of -- there is a lot of uncertainty as to what was going to happen as we got closer to the Fall here, and many of our customers are opened up. We were able to make substantial progress on our backlog. So we got access to some of the vehicles that we've been trying to get access to for some period here. So that was all good. And we've just been very pleased with the adoption. I think the innovation that the team came up with on Bus Guardian made an already attractive product to really add software technology to school buses to provide assurance to parents, which is more important now than ever.

And when you include the ability to provide contact tracing information and hygiene