CalAmp Corp. announced unaudited consolidated earnings results for the first quarter ended May 31, 2016. For the quarter, revenue was $91.1 million, an increase of 39% from the first quarter of fiscal 2016. Revenue in the fiscal 2017 first quarter included $27.9 million from the LoJack acquisition and $8.4 million from the Satellite segment. GAAP net loss for the first quarter of fiscal 2017 was $2.7 million, or $0.07 per diluted share, compared to net income of $4.1 million, or $0.11 per diluted share, in the first quarter of fiscal 2016. The GAAP net loss includes costs and expenses associated with LoJack purchase accounting adjustments and other acquisition-related expenses in the aggregate amount of $9.3 million. Non-GAAP adjusted basis net income for the first quarter of fiscal 2017 was $11.1 million, or $0.30 per diluted share, compared to non-GAAP adjusted net income of $9.5 million, or $0.26 per diluted share, in the first quarter of fiscal 2016. Operating loss was $2.038 million against income of $7.044 million a year ago. Loss before income taxes and equity in net loss of affiliate was $3.466 million against income of $6.413 million a year ago. Net cash provided by operating activities was $8.322 million against $16.328 million a year ago. Capital expenditures were $1.620 million against $1.264 million a year ago. Adjusted EBITDA was $13.729 million against $10.689 million a year ago.

For the second quarter of fiscal 2017 ending August 31, 2016, the company expects: revenue in the range of $90 to $95 million, along with GAAP basis results of operations in the range of $0.02 net loss to $0.02 net income per diluted share and non-GAAP net income in the range of $0.25 to $0.31 per diluted share. Adjusted EBITDA is expected to be in the range of $12 to $16 million. The above outlook includes approximately $6 million of revenue and a modest positive contribution to profitability from the Satellite segment.

The company's expects the second half of the year 2017 to be stronger than the first half, with consolidated revenue reaching a $100 million quarterly run rate later in the year.

For fiscal 2017 as a whole, the company expects that the GAAP basis effective tax rate will be approximately 34% and the non-GAAP tax rate will be about 4%.