CalAmp Corp. (NASDAQ:CAMP) Q1 2024 Earnings Call Transcript

Jeff Gardner: No. I think Jikun said that we’ll recover in the back half of the year. So we expect the TSPs to be back to more normalized levels in the second half. So the first quarter, Jikun, would you just review the guidance once for and why we went with that guidance range?

Jikun Kim: Yes. So I mean, it’s relatively flat guidance relative to Q1 actual, slightly down. But again, this reflects our TSP situation. But the second half of the year, we do expect the TSPs to come back.

Anthony Stoss: But would you expect it to be up year-over-year versus what you did in fiscal ’23 for both November and February?

Jikun Kim: Well, if you look at fiscal ’23, right, Q3 and Q4, we’re up at $79 and $79. I think those ordering is kind of what caused some of the TSP problems. And so normalization would put you somewhere between current levels in Q3 and Q4.

Anthony Stoss: All right. Thank you.

Jeff Gardner: You’re welcome. Thanks Tony.

Operator: Thank you. That concludes the question-and-answer session. I would now like to pass the conference back to Jeff Gardner for any closing remarks.

Jeff Gardner: Yes. Thank you very much. And thank you all for joining us on the call today for your continued interest in CalAmp. We look forward to sharing our progress with you during our second quarter 2024 earnings call later this year. Operator, you may now disconnect the call.

Operator: That concludes today’s conference call. I hope you all enjoy the rest of your day. You may now disconnect your lines.