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Xplore Technologies Records First Profitable Year

Stocks in this article: XPLR

Xplore Technologies Corp. (NASDAQ: XPLR), today reported its results for fiscal 2013. Profitable for the first time in company history, Xplore reported net income of $306,000 for the fiscal year ended March 31, 2013, as compared to a net loss of $523,000 for fiscal 2012. Additionally, Xplore reported an increase in revenue of approximately 11 percent for the year ended March 31, 2013, with revenue of $30,486,000 compared to $27,528,000 in the prior year.

“We are extremely pleased with our achievements for fiscal 2013. Xplore continued its revenue growth, generated cash from operations, completed a significant recapitalization, which included a public offering and the up-listing of our common stock to NASDAQ, and now for the first time, Xplore is reporting net income for fiscal year 2013,” said Philip S. Sassower, chairman and chief executive officer. “We believe this reflects the market’s demand for rugged tablet PCs and our belief that we build the best and most rugged tablets available today. We are well positioned to execute on our strategy to develop and introduce new rugged products to broaden our addressable markets and enable continued growth.”

“In addition to financial performance achievements in fiscal 2013, we also made significant gains in the military and medical device markets,” Mark Holleran, president and chief operating officer for Xplore Technologies, added. “We believe Xplore's ultra-rugged tablet solution is gaining traction in these and other markets by delivering on our promise of value, performance and reliability. In military deployments, whether supporting special operations, managing workflows on the flight line or delivering real-time data to mobile field units, our military product family provides what we believe is the most feature-rich and affordable fully rugged tablet on the market. In the medical device sector, the multi-million dollar orders we received from a leading player represents a significant accomplishment in a new vertical market for us. Our tablet is the control unit for our customer’s advanced treatment solutions to ensure that a patient’s health is not negatively affected by a computing hardware failure.”

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