[April 29, 2013] Mobile fleet pushes growth at Oxnard's CalAmp Corp. Tweet Apr 29, 2013 (Ventura County Star - McClatchy-Tribune Information Services via COMTEX) -- Oxnard's wireless communications product developer CalAmp Corp. said revenue from its mobile fleet management sector fueled strong business growth in the fourth quarter and fiscal year. Total company revenue rose 29 percent to $48.4 million in the fourth quarter compared to $37.6 million a year ago, led by a 45 percent increase in product and service sales of its mobile fleet management and wireless products sector, CalAmp said. Revenue in that sector rose to $37.3 million from $25.7 million the previous year, CalAmp said quarterly net income of $32.6 million, or $1.06 per diluted share, was due to a $29 million income tax benefit. Without the tax benefit, fourth quarter net income was $3.4 million, or 11 cents per diluted share, compared to $1.6 million, or six cents per share, a year ago. Revenue for the year increased 30 percent to $180.6 million from $138.7 million a year ago, CalAmp said. Mobile fleet management sector sales also led the increase with a 41 percent growth in revenue, according to CalAmp. Net income for the year rose to $44.6 million, or $1.49 per share, including the $29 million tax benefit, compared to $5.2 million, or 18 cents per share, a year ago, said the company. President and CEO Michael Burdiek called 2013 "a transformative year" for the company. He gave guidance for the new fiscal year's first quarter of $50 to $54 million in revenue and net income in the range of one cent to five cents per share. ___ (c)2013 Ventura County Star (Camarillo, Calif.) Visit Ventura County Star (Camarillo, Calif.) at www.vcstar.com Distributed by MCT Information Services [ Back To TMCnet.com's Homepage ]