What happened

Shares of CalAmp Corp. (NASDAQ:CAMP) were up 13.9% as of 1:00 p.m. EDT Wednesday after the machine-to-machine (M2M) communications specialist announced strong fiscal fourth-quarter 2017 results.

So what

Quarterly revenue climbed 21.6% year over year, to $86.1 million, and translated to adjusted earnings of $9.9 million, or $0.28 per diluted share. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) declined 6.6%, to $12.8 million.

For perspective, each of those figures arrived well within CalAmp's guidance, which called for revenue of $84 million to $89 million, adjusted EBITDA of $11 million to $15 million, and adjusted net income per share of $0.25 to $0.31. But Wall Street was only looking for adjusted net income of $0.27 per share on revenue of $86 million.

CalAmp headquarters

Image source: CalAmp.

CalAmp CEO Michael Burdiek stated, "As we close out fiscal 2017, we are pleased with the progress we have made on a number of financial and business objectives, which have helped set the stage for long-term growth and profitability."

Now what

In addition, CalAmp told investors to expect current-quarter revenue of $84 million to $90 million, adjusted EBITDA of $11 million to $14 million, and adjusted net income per share of $0.24 to $0.32 -- roughly in line with expectations. During the subsequent conference call, CalAmp CFO Rick Vitelle also noted the business should "strengthen as the year progresses, driven by growth in MRM telematics product revenues and our recurring revenue both domestically and with LoJack Italy."

CalAmp only just completed the integration of recently acquired vehicle recovery specialist LoJack this quarter, and has made it clear so far this year that it is actively leveraging LoJack's products to capitalize on incremental growth opportunities.

Given CalAmp's strong quarter, encouraging near-term guidance, and expectations for improving performance as the new fiscal year wears on, it's no surprise to see investors bidding up shares today.

Steve Symington has no position in any stocks mentioned. The Motley Fool recommends CalAmp. The Motley Fool has a disclosure policy.