Xplore Reports Q2’12 Results & Growth In Q2 Revenue
Xplore Technologies Corp. (OTCQB: XLRT) (“Xplore” or the “Company”), a manufacturer of award-winning rugged tablet PCs, today reported results for the second quarter of fiscal 2012. Revenue for the three and six months ended September 30, 2011 was $5,100,000 and $7,778,000, respectively, as compared to $4,328,000 and $9,406,000 for the three and six months ended September 30, 2010, respectively. The increase in revenue of approximately 18% for the three months ended September 30, 2011 as compared to the three months ended September 30, 2010 and the decrease in revenue of approximately 17% for the six months ended September 30, 2011 as compared to September 30, 2010 were attributable to the Company’s current transition to its new product line, the iX104C5, which was introduced near the end of the first fiscal quarter of fiscal 2012. The Company believes that the six month revenue comparison is skewed by the Company’s decreased revenue caused by the aforementioned transition in the first quarter of fiscal 2012, while the three month revenue comparison provides evidence of the iX104C5’s traction with customers and of the transition effects subsiding.
“We are pleased with the increase in revenue for our second quarter of approximately 90% over our first quarter and of approximately 18% over the same quarter in the prior year, and believe it positively reflects an initial favorable acceptance of our new C5 in the markets we serve,” said Mark Holleran, President and Chief Operating Officer of Xplore. “Our C5 selling efforts only commenced late in our first fiscal quarter and our markets tend to have a long sales cycle. We believe the second quarter C5 revenue ramp should continue and we expect growth in revenue from the C5 product launch in our remaining quarters of fiscal 2012 ending December 2011 and March 2012. We believe the year to date revenue decline reflects the previously reported delay in the launch of our iX104C5 product family and the market desire to wait for our new and improved line of products.”
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