CalAmp Corp. (NASDAQ:CAMP) reached up 14.85% in morning trading to $3.48 with 400K shares traded. CalAmp develops and markets wireless communications solutions that deliver data, voice and video for critical networked applications. The Company's two business segments are Wireless DataCom, which serves utility, government and enterprise customers, and Satellite, which focuses on the North American Direct Broadcast Satellite market. CalAmp Corp. (NASDAQ:CAMP - News) yesterday reported results for its fiscal first quarter ended May 31, 2011. Key elements include: • Consolidated first quarter revenues up 31% year-over-year to $34.6 million; wireless datacom revenues up 39% year-over-year to $22.0 million. • Consolidated first quarter gross margin percentage of 27.3%, up from 23.2% in the first quarter of prior year; wireless datacom first quarter gross margin percentage of 39.0%, up from 33.7% in first quarter of prior year. • First quarter GAAP net income of $0.5 million, or $0.02 per diluted share; Adjusted Basis (non-GAAP) net income of $1.4 million, or $0.05 per diluted share. • First quarter net cash provided by operations of $2.3 million. • Net debt balance reduced by $2.1 million during first quarter to $5.6 million.
AvStar Aviation Group, Inc. (AvStar) (OTCQB:AAVG) reached up 15.38% in morning trading to $.003 with 16M shares traded. AvStar Aviation Group, Inc. ("AvStar") business plan is to acquire, consolidate, and grow businesses in the aviation industry. Currently, they are focusing on acquiring and/or developing companies that provide products and services for the general aviation service business. AvStar Aviation Group, Inc. (AvStar) (OTCQB: AAVG) today announced that its wholly owned subsidiary Twin Air Calypso Limited, Inc. has received revenues in the first half of 2011 that exceeded the corresponding period of 2010 by 30%. Revenue for the period ending 6/30/2011 was $1,225,000 compared to $890,000 for the same period in 2010. This level of revenue was not realized in 2010 until September. The results were due in large part to the company increasing carrying capacity, but also to increased equipment reliability and operational upgrades.
Greenwood Gold Resources Inc. (OTCBB:GGRI) reached up 12.14% in morning trading to $.157 with 6M shares traded. Greenwood Gold Resources, Inc. is a junior mining company engaged in the acquisition, development of mining properties and exploration of gold and other valuable mineral deposits in Canada and the US. Greenwood Gold Resources Inc. (OTCBB:GGRI.ob - News) yesterday evening announced preliminary plans for preparation of the Summer Property exploration work program, which would fulfill the requirement for undertaking a $350,000 work program on the Summer Property, according to the terms of the Company's option agreement.
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