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Xplore Reports First Quarter Revenue Of $9.95 Million And Net Income Of Over $0.8 Million

Stocks in this article: XLRT

Xplore Technologies Corp. (OTCQB: XLRT) today reported its first quarter fiscal 2013 results. For the three months ended June 30, 2012, Xplore reported revenue of $9,950,000 compared to $2,678,000 for the three months ended June 30, 2011, an increase of $7,272,000 or approximately 272%. The increase in revenue was due to an increase in unit sales of approximately 256% for the three months ended June 30, 2012 compared to the three months ended June 30, 2011, along with an increase in our average sales price of approximately 16%. The increase in unit sales was principally attributable to the fulfillment of a portion of the previously announced purchase orders we received in the second half of our fiscal year 2012, approximating $20,300,000. The increase in average selling prices was principally due to a more favorable product mix.

Xplore reported net income for the three months ended June 30, 2012 of $819,000 as compared to a net loss of $1,463,000 for the three months ended June 30, 2011, an increase of $2,282,000. The increase is due to the increase in revenue offset by an increase in operating expenses of approximately 21%.

“The Company’s results mark our third consecutive quarter of profitability,” stated Philip S. Sassower, Chairman and Chief Executive Officer. “This quarter and our fourth quarter of fiscal 2012, when we achieved $10,832,000 in revenue that represented the single largest dollar amount of revenue in our 16-year history, come at a time when we believe there is a strong increase in awareness and demand for tablet computers. We have introduced a family of computers that based upon third-party certifications, we believe surpass the standards and specifications that are accepted measuring sticks for rugged tablets in today’s marketplace. We believe that if we gain more awareness of our iX104C5 tablet PC family of products, we can increase our future revenue.”

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