CalAmp Satellite Products Requalified By Key Customer.
Company Expects to Resume Shipments to Its Historically Largest Customer
OXNARD, Calif. -- CalAmp Corp. (Nasdaq:CAMP), a leading provider of wireless products, services, and solutions, announced today that a key Direct Broadcast Satellite (DBS (Direct Broadcast Satellite) A one-way TV broadcast service from a communications satellite to a small round or oval dish antenna no larger than 20" in diameter. ) customer has requalified two of CalAmp's products, including the latest generation offering that supports expanded high-definition television high-definition television (HDTV)
Any system producing significantly greater picture resolution than that of the ordinary 525-line (625-line in Europe) television screen. Conventional television transmits signals in analog form. (HDTV (High Definition TV) A set of digital television (DTV) standards that offer the highest resolution and sharpest picture. Although some HDTV sets are available in standard (rather square) screen sizes, the overwhelming majority of sets are wide screen, which eliminates ) content along with a popular older generation product line.
As previously announced, a product performance issue affecting certain DBS equipment manufactured by CalAmp for this customer resulted in the customer returning product and putting orders on hold pending the requalification of products. Last month, CalAmp announced that it had reached a settlement agreement with this customer related to this issue. Today's announcement that the customer has requalified the products paves the way for CalAmp to resume business with this important customer.
Fred Sturm, CalAmp's President and Chief Executive Officer, commented, "I am very pleased to announce that CalAmp products have been requalified by the DBS service provider that has been our largest customer over the past several years. We will immediately begin working with our customer towards restarting the production process. Initially, we expect we will be shipping a mix of both revenue-generating new units and non-revenue refurbished units. We believe these shipments will likely resume during our fiscal 2009 first quarter, and we look forward to rebuilding our market position with this key customer."
About CalAmp Corp.
CalAmp is a leading provider of wireless communications wireless communications
System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. products that enable anytime/anywhere access to critical information, data and entertainment content. With comprehensive capabilities ranging from product design and development through volume production, CalAmp delivers cost-effective cost-effective,
n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. high quality solutions to a broad array of customers and end markets. CalAmp is a supplier of DBS outdoor customer premise equipment to the U.S. satellite television market. The Company also provides wireless data communication solutions for the telemetry telemetry
Highly automated communications process by which data are collected from instruments located at remote or inaccessible points and transmitted to receiving equipment for measurement, monitoring, display, and recording. and asset tracking markets, private wireless networks, public safety communications and critical infrastructure and process control applications. For additional information, please visit the Company's website at www.calamp.com.
Forward-Looking Statement forward-looking statement
A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
Statements in this press release that are not historical in nature are forward-looking statements, which involve known and unknown risks and uncertainties. Words such as "may", "will", "expect", "intend", "plan", "believe", "seek", "could", "estimate", "judgment", "targeting", "should", "anticipate", "goal" and variations of these words and similar expressions, are intended to identify forward-looking statements. Actual results could differ materially from those implied by such forward-looking statements due to a variety of factors, including general and industry economic conditions, product demand, increased competition, competitive pricing and continued pricing declines in the DBS market, the timing of customer approvals of new product designs, operating costs operating costs npl → gastos mpl operacionales , the Company's ability to efficiently and cost-effectively integrate its acquired businesses, the Company's ability to obtain an amendment of its bank credit agreement to eliminate the event of default under the credit agreement, the risk that the ultimate cost of resolving a product performance issue with a key DBS customer may exceed the amount of reserves established for that purpose, and other risks or uncertainties that are described in the Company's fiscal 2007 Annual Report on Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. filed on May 17, 2007 with the Securities and Exchange Commission (SEC) and in the Quarterly Report on Form 10-Q Form 10-Q
See 10-Q. filed on January 15, 2008 with the SEC. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained at·tain
v. at·tained, at·tain·ing, at·tains
1. To gain as an objective; achieve: attain a diploma by hard work.
2. . The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.