Price | 10.15 | EPS | -0 | |
Shares | 34 | P/E | -65 | |
MCap | 347 | P/FCF | 37 | |
Net Debt | 171 | EBIT | 5 | |
TEV | 518 | TEV/EBIT | 97 | TTM 2019-11-30, in MM, except price, ratios |
10-Q | 2020-11-30 | Filed 2020-12-17 |
10-Q | 2020-08-31 | Filed 2020-09-24 |
10-Q | 2020-05-31 | Filed 2020-06-25 |
10-K | 2020-02-29 | Filed 2020-05-06 |
10-Q | 2019-11-30 | Filed 2019-12-19 |
10-Q | 2019-08-31 | Filed 2019-09-26 |
10-Q | 2019-05-31 | Filed 2019-06-28 |
10-K | 2019-02-28 | Filed 2019-05-01 |
10-Q | 2018-11-30 | Filed 2018-12-20 |
10-Q | 2018-08-31 | Filed 2018-09-27 |
10-Q | 2018-05-31 | Filed 2018-06-28 |
10-K | 2018-02-28 | Filed 2018-05-10 |
10-Q | 2017-11-30 | Filed 2017-12-21 |
10-Q | 2017-08-31 | Filed 2017-09-28 |
10-Q | 2017-05-31 | Filed 2017-06-27 |
10-K | 2017-02-28 | Filed 2017-05-15 |
10-Q | 2016-11-30 | Filed 2016-12-21 |
10-Q | 2016-08-31 | Filed 2016-09-29 |
10-Q | 2016-05-31 | Filed 2016-06-29 |
10-K | 2016-02-29 | Filed 2016-04-20 |
10-Q | 2015-11-30 | Filed 2015-12-22 |
10-Q | 2015-08-31 | Filed 2015-10-01 |
10-Q | 2015-05-31 | Filed 2015-06-30 |
10-K | 2015-02-28 | Filed 2015-04-21 |
10-Q | 2014-11-30 | Filed 2014-12-23 |
10-Q | 2014-08-31 | Filed 2014-10-06 |
10-Q | 2014-05-31 | Filed 2014-07-01 |
10-K | 2014-02-28 | Filed 2014-04-24 |
10-Q | 2013-08-31 | Filed 2013-10-02 |
10-Q | 2013-05-31 | Filed 2013-06-27 |
10-K | 2013-02-28 | Filed 2013-04-25 |
10-Q | 2012-11-30 | Filed 2012-12-20 |
10-Q | 2012-08-31 | Filed 2012-09-25 |
10-Q | 2012-05-31 | Filed 2012-06-28 |
10-K | 2012-02-28 | Filed 2012-04-26 |
10-Q | 2011-11-26 | Filed 2011-12-22 |
10-Q | 2011-08-27 | Filed 2011-09-29 |
10-Q | 2011-05-28 | Filed 2011-06-30 |
10-K | 2011-02-28 | Filed 2011-04-28 |
10-Q | 2010-11-27 | Filed 2011-01-04 |
10-Q | 2010-08-28 | Filed 2010-10-06 |
10-Q | 2010-05-29 | Filed 2010-07-08 |
10-K | 2010-02-28 | Filed 2010-05-06 |
10-Q | 2009-11-28 | Filed 2010-01-07 |
8-K | 2020-09-24 | |
8-K | 2020-08-24 | |
8-K | 2020-07-29 | |
8-K | 2020-07-02 | |
8-K | 2020-06-25 | |
8-K | 2020-05-28 | |
8-K | 2020-05-05 | |
8-K | 2020-04-24 | |
8-K | 2020-04-21 | |
8-K | 2020-04-15 | |
8-K | 2020-03-27 | |
8-K | 2020-03-20 | |
8-K | 2020-03-05 | |
8-K | 2020-01-29 | |
8-K | 2020-01-09 | |
8-K | 2019-11-30 | |
8-K | 2019-11-26 | |
8-K | 2019-11-04 | |
8-K | 2019-10-24 | |
8-K | 2019-10-23 | |
8-K | 2019-09-30 | |
8-K | 2019-08-31 | |
8-K | 2019-07-24 | |
8-K | 2019-05-31 | |
8-K | 2019-05-28 | |
8-K | 2019-04-30 | |
8-K | 2019-04-12 | |
8-K | 2019-04-08 | |
8-K | 2019-03-19 | |
8-K | 2019-02-28 | |
8-K | 2019-02-28 | |
8-K | 2019-02-25 | |
8-K | 2018-12-10 | |
8-K | 2018-12-06 | |
8-K | 2018-11-30 | |
8-K | 2018-09-27 | |
8-K | 2018-08-01 | |
8-K | 2018-07-25 | |
8-K | 2018-07-20 | |
8-K | 2018-07-17 | |
8-K | 2018-07-16 | |
8-K | 2018-06-27 | |
8-K | 2018-05-07 | |
8-K | 2018-04-26 | |
8-K | 2018-03-30 |
Part I. Financial Information |
Item 1. Financial Statements |
Note 1 - Description of Business, Basis of Presentation and Summary of Significant Accounting Policies |
Note 2 - Cash, Cash Equivalents and Investments |
Note 3 - Inventories |
Note 4 - Goodwill and Other Intangible Assets |
Note 5 - Other Assets |
Note 6 - Financing Arrangements |
Note 7 - Restructuring Activities |
Note 8 - Leases |
Note 9 - Income Taxes |
Note 10 - Earnings per Share |
Note 11 - Stockholders' Equity |
Note 12 - Concentration of Risk |
Note 13 - Product Warranties |
Note 14 - Other Financial Information |
Note 15 - Segment Information and Geographic Data |
Note 16 - Legal Proceedings |
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations |
Item 3. Quantitative and Qualitative Disclosures About Market Risk |
Item 4. Controls and Procedures |
Part II. Other Information |
Item 1. Legal Proceedings |
Item 1A. Risk Factors |
Item 5. Other Information |
Item 6. Exhibits |
EX-31.1 | camp-ex311_6.htm |
EX-31.2 | camp-ex312_7.htm |
EX-32 | camp-ex32_8.htm |
Balance Sheet | Income Statement | Cash Flow |
---|---|---|
Assets, Equity
|
Rev, G Profit, Net Income
|
Ops, Inv, Fin
|
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
(Mark One)
| QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended
or
| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
COMMISSION FILE NUMBER:
CALAMP CORP.
(Exact name of Registrant as specified in its Charter)
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(State or other jurisdiction of |
| (I.R.S. Employer |
incorporation or organization) |
| Identification No.) |
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(Address of principal executive offices) |
| (Zip Code) |
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading symbol | Name of Each Exchange On Which Registered |
| | |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer | ☐ |
| | ☒ |
Non-accelerated filer | ☐ |
| Smaller reporting company | |
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| Emerging growth company | |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes
The number of shares outstanding of the registrant’s common stock as of December 10, 2020 was
CALAMP CORP.
QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED NOVEMBER 30, 2020
TABLE OF CONTENTS
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ITEM 1. |
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| Condensed consolidated balance sheets (unaudited) as of November 30, 2020 and February 29, 2020 |
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| Notes to unaudited condensed consolidated financial statements |
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ITEM 2. |
| Management’s discussion and analysis of financial condition and results of operations |
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ITEM 3. |
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ITEM 4. |
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PART II – OTHER INFORMATION | ||||
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ITEM 1. |
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ITEM 1A. |
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ITEM 5. |
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ITEM 6. |
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2
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
CALAMP CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except par value)
(Unaudited)
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Assets |
| 2020 |
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Current assets: |
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Cash and cash equivalents |
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Accounts receivable, net |
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Inventories |
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Prepaid expenses and other current assets |
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Total current assets |
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Property and equipment, net |
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Operating lease right-of-use assets |
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Deferred income tax assets |
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Goodwill |
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Other intangible assets, net |
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Other assets |
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Liabilities and Stockholders' Equity |
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Current liabilities: |
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Current portion of long-term debt |
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Accounts payable |
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Accrued payroll and employee benefits |
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Deferred revenue |
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Other current liabilities |
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Total current liabilities |
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Long-term debt, net of current portion |
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Operating lease liabilities |
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Other non-current liabilities |
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Total liabilities |
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Commitments and contingencies |
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Stockholders' equity: |
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Preferred stock, $ |
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Common stock, $ issued and outstanding at November 30, 2020 and February 29, 2020, respectively |
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Additional paid-in capital |
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Accumulated deficit |
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Accumulated other comprehensive loss |
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Total stockholders' equity |
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See accompanying notes to condensed consolidated financial statements.
3
CALAMP CORP.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands, except per share amounts)
(Unaudited)
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| Three Months Ended |
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| Nine Months Ended |
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| 2019 |
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Revenues: |
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Products |
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Application subscriptions and other services |
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Total revenues |
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Cost of revenues: |
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Products |
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Application subscriptions and other services |
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Total cost of revenues |
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Gross profit |
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Operating expenses: |
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Research and development |
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Selling and marketing |
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General and administrative |
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Intangible asset amortization |
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Restructuring |
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Impairment loss |
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Total operating expenses |
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Operating loss |
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Non-operating income (expense): |
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Investment income |
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Interest expense |
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Loss on extinguishment of debt |
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Other income (expense) |
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Total non-operating expense |
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Loss before income taxes and impairment loss in investment of affiliate |
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Income tax benefit (provision) |
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Loss before impairment loss in investment of affiliate |
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Impairment loss in investment of affiliate |
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Net loss |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
Loss per share: |
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Basic |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
Diluted |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
Shares used in computing loss per share: |
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Basic |
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Diluted |
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Comprehensive income (loss): |
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Net loss |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
Other comprehensive income (loss): |
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Foreign currency translation adjustments |
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Total comprehensive loss |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
See accompanying notes to condensed consolidated financial statements.
4
CALAMP CORP.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
| Nine Months Ended |
| |||||
| November 30, |
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| 2020 |
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| 2019 |
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CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net loss | $ | ( | ) |
| $ | ( | ) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
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Depreciation expense |
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Intangible asset amortization expense |
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Stock-based compensation expense |
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Amortization of discount and debt issuance costs |
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Impairment loss |
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Impairment of operating lease right-of-use (ROU) assets |
| — |
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Noncash operating lease cost |
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Loss on extinguishment of debt |
| — |
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Revenue assigned to factors |
| ( | ) |
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Deferred tax assets, net |
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Other |
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Changes in operating assets and liabilities: |
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Accounts receivable |
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| ( | ) |
Inventories |
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| ( | ) |
Prepaid expenses and other assets |
| ( | ) |
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Accounts payable |
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| ( | ) |
Accrued liabilities |
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| ( | ) |
Deferred revenue |
| ( | ) |
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Operating lease liabilities |
| ( | ) |
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NET CASH PROVIDED BY OPERATING ACTIVITIES |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from maturities of marketable securities |
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Purchases of marketable securities |
| ( | ) |
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Capital expenditures |
| ( | ) |
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Acquisitions, net of cash acquired |
| — |
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| ( | ) |
Other |
| — |
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NET CASH USED IN INVESTING ACTIVITIES |
| ( | ) |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Proceeds from Paycheck Protection Program Loan |
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| — |
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Repayment of Paycheck Protection Program Loan |
| ( | ) |
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| — |
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Proceeds from revolving credit facility, net of issuance cost |
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| — |
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Repayment of 2020 Convertible Notes |
|