This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Xplore Technologies Reports Fiscal 2014 First Quarter Results

Stocks in this article: XPLR

Xplore Technologies Corp. (NASDAQ: XPLR) reported its results for the first quarter of its fiscal year 2014. For the three months ended June 30, 2013, Xplore reported revenue of approximately $5,856,000, compared to $9,950,000 for the three months ended June 30, 2012, a decrease of $4,094,000, or approximately 41 percent.

“While our revenue is down compared to the prior year period, we made meaningful progress on our strategy and continued to generate positive cash flow from operations,” Philip Sassower, chairman and chief executive officer for Xplore Technologies, said. “A large order from a major U.S. telecommunications provider, which represented approximately 39 percent of our revenue in the prior year quarter, was responsible for most of the variability experienced.”

On July 10, Xplore broadened its product portfolio with the launch of its first rugged Android tablet. The lightweight device introduces the company to new markets while catering to the needs of existing customers.

“To establish more consistent revenue growth, we are in the process of implementing a strategy that we expect will significantly broaden our addressable markets. The RangerX is the first of our planned product line expansion focused on lighter and more affordable tablets,” Sassower continued. “We believe these new products, combined with investments in sales and marketing activities to create broader awareness and deeper market penetration, will result in continued year-to-year revenue growth and lower quarter-to-quarter volatility.”

“Xplore’s book of business remains robust,” Mark Holleran, president and chief operating officer for Xplore Technologies, said. “We recently received several significant, multi-million dollar follow-on purchase orders from existing customers, including a major U.S. telecommunications provider and a medical device manufacturer. In addition, we have seen a dramatic increase of website traffic and interest as a result of the RangerX.”

Gross profit of $2,241,000 (approximately 38 percent of revenue) for the quarter ended June 30, 2013, decreased from $3,305,000 (approximately 33 percent of revenue) for the quarter ended June 30, 2012. This decrease of approximately 32 percent was primarily attributable to the decrease in revenue, offset by an increase in Xplore’s gross profit percentage due to a more favorable product mix.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs