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

Sep 24, 2020 • 04:30 pm ET


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


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Jeff Gardner

expansion initiatives, which continue to be a strong contributor of our growth. Our operations in Italy have been a key contributor to these efforts and revenue rebounded in the quarter as the enterprise customers began to reopen. We were able to resume our installation activities for which there was a sizable backlog due to lockdown.

Customer demand also remained strong throughout the quarter. We expect to see continued strength in this market, and last week's announcement of a safety alliance with Maldarizzi, one of Italy's largest automotive dealerships further supports our continued growth in that region. The expanded partnership is designed to improve road safety by providing timely preventative maintenance reminders, instant crash response, and stolen vehicle assistance to 12,000 customers throughout Southern Italy.

We also continue to enhance strategic engagement with partners and critical customers to expand our opportunities in telematics. For example, we recently extended our relationship with our largest customer, Caterpillar to facilitate their continued expansion of connected assets, including the migration of several existing fleets to 4G LTE. We also pushed hard on our initiative to transition our LoJack US business to a telematics model by converting seven dealerships to LotSmart and SureDrive telematics solutions.

I believe these particular developments mark solid progress, considering the current market backdrop. We also expect to gain further traction in the US when we have more access to dealerships, as they begin the reopening process. Our focus on key product development initiatives also remains paramount to our long-term operating plan as I've discussed with you on past calls. The objective is to earmark critical development resources to the most promising product areas and markets.

One of these is our iOn suite of applications, including iOn Tag as well as iOn Vision, which would be released to the market this year. iOn Vision is a fully integrated video and safety visibility telematics solution that provides fleet operators and service providers with actionable and deterministic video insight to improve driver safety, mitigate liabilities and protect assets during shipment. We were pleased to announce that this highly anticipated product received the 2020 IoT Evolution Product of the Year Award.

Additionally, our CalAmp iOn suite of solutions was named to Equipment Today's 2020 Contractors' Top 50 New Products list. Another one of our solutions that has also received significant recognition this quarter was our newly released contact tracing and hygiene verification application called Bus Guardian, which complements our flagship, Here Comes The Bus platform. It was even featured in a segment on Good Morning America, which can be viewed on our website.

What's particularly noteworthy about this offering is our team was able to turn it around from ideation to publicly available solution within three months and in time for the start of the school year. One final comment regarding our efforts to further strengthen our corporate governance and demonstrate our commitment to Board diversity. Last month, we appointed Independent Director, Amal Johnson as Chair of our Board. She has served on our Board