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What: Shares of CalAmp Corp. (NASDAQ:CAMP) were up 14.7% at 11:30 a.m. Friday after the machine-to-machine communications company announced strong fiscal second-quarter 2016 results. Earlier Friday, shares had been up as much as 17% over the previous close.

So what: Consolidated revenue rose 18% year over year to $69.8 million, and translated to 30% growth in adjusted net income to $9.8 million, or $0.27 per diluted share. Analysts' consensus estimates called for earnings of $0.26 per share on revenue of $67.8 million.

CalAmp's revenue included a 23% jump in Wireless Datacom sales to $61.8 million, and an expected 11% decline in Satellite segment revenue to $8 million. "Satellite segment revenues were in-line with expectations," explained CalAmp CEO Michael Burdiek, "while a favorable product mix drover higher gross margins and strong profitability." 

Within Wireless Datacom, fleet management and asset tracking customers drove strong demand for CalAmp's Mobile Resource Management products, which comprised around 60% of the segment's sales, while CalAmp also enjoyed solid growth in Wireless Networks to make up the remaining 40%. Recurring subscription revenue comprised 15.9% of total sales this quarter, up from 15.6% last quarter.

Now what: Burdiek added, "Our momentum exiting the quarter, coupled with an expanding pipeline of opportunities, is providing CalAmp with a strong tailwind heading into the second half of fiscal 2016."

For the current quarter, CalAmp expects solid sequential and year-over-year growth form both Wireless Datacom and Satellite, which should result in consolidated revenue of $71 million to $76 million, and adjusted earnings of $0.26 to $0.30. Analysts, on average, were anticipating fiscal Q3 revenue and earnings of $73.1 million and $0.28 per share, respectively.

Finally, for the full fiscal year 2016, CalAmp raised both ends of its previous revenue guidance by $1 million, resulting in a new expected range of $281 million to $289 million. Wall Street was modeling fiscal 2016 revenue slightly below the mid-point of that range at $283.6 million. 

In the end, investors have grown accustomed to CalAmp delivering strong results, and this report was no exception. With shares trading around 14 times next year's expected earnings even after this pop, the market's optimism today is thoroughly unsurprising.

Steve Symington has no position in any stocks mentioned. The Motley Fool recommends CalAmp. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.