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TheStreet Open House

Xplore Technologies Records Second Consecutive Profitable Quarter

Stock quotes in this article: XLRT

Xplore Technologies Corp. (OTCQB: XLRT), today reported its results for fiscal 2012. The Company’s fourth quarter of fiscal 2012 represented its second consecutive profitable quarter, the first time this accomplishment has occurred in the Company’s 16-year history.

For the three months ended March 31, 2012, Xplore recorded revenue of $10,832,000 and net income of $1,325,000. The fourth quarter’s revenue represented the largest amount of revenue for any quarter in Xplore’s history, and follows revenue of $8,918,000 reported by the Company for its fiscal third quarter ended December 31, 2011.

For fiscal year ended March 31, 2012, Xplore reported revenue of $27,528,000, an increase of 55% from $17,759,000 in revenue reported for fiscal 2011. The Company recorded a net loss for the year ended March 31, 2012 of $523,000 compared to a net loss of $6,389,000 for the prior year.

“We are extremely pleased to report these results for fiscal 2012,” stated Philip S. Sassower, Chairman and Chief Executive Officer. “We have believed for some time that we build the best and most rugged tablets available today. We believe our fiscal 2012 results demonstrate that our customers, both old and new, recognize this as well. The tremendous acceptance in the marketplace today of the tablet as a form factor, much like what was experienced by laptop computers when they first emerged, should provide a ready market for our family of rugged tablet computers.”

Venture Development Corporation recently projected worldwide sales in the rugged mobile computing market to grow to more than $6.8 billion by the end of 2013 and the market for large form factor rugged devices to grow to $3.5 billion by the end of 2013. “We currently have five products in the large form factor segment of the rugged mobile computer market,” said Mark Holleran, President and Chief Operating Officer.

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