Xplore Technologies Corp. (NASDAQ:XPLR) ( www.xploretech.com) (“Xplore” or the “Company”) today reported its results for the second quarter of its fiscal 2013. For the three months ended September 30, 2012, Xplore reported revenue of $7,473,000 compared to $5,100,000 for the three months ended September 30, 2011, an increase of $2,373,000, or approximately 47%. For the six months ended September 30, 2012, revenue was $17,423,000 compared to six months ended September 30, 2011 revenue of $7,778,000, an increase of $9,645,000, or approximately 124%. The increase in revenue for the six months ended September 30, 2012 was the result of an increase in unit sales of approximately 110% as well as an increase in average sales price of approximately 14% due to favorable changes in the product mix sold. The unit sales increase was principally attributable to the fulfillment of a portion of significant purchase orders the Company received from one of the world’s largest telecommunications companies and one of the largest conventional oil and natural gas producers in North America.
Xplore reported net income for the three months ended September 30, 2012 of $277,000 compared to a net loss of $669,000 for the three months ended September 30, 2011, an improvement of $946,000. The increase was due to increases in revenue and gross profit and a decrease in operating expenses. The net income for the six months ended September 30, 2012 was $1,096,000 compared to a net loss of $2,132,000 for the six months ended September 30, 2011, an improvement of $3,228,000, resulting from increases in revenue and gross profit that were partially offset by an increase in operating expenses.
The Company’s operating expenses were $2,022,000 for the three months ended September 30, 2012 compared to $2,224,000 for the three months ended September 30, 2011, a decrease of approximately 9%. For the six months period ended September 30, 2012, operating expenses were $4,422,000 compared to $4,211,000 for the six months ended September 30, 2011, an increase of approximately 5%.
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