Xplore Technologies Reports Fiscal Second Quarter 2017 Results

Revenue Increases 21% Sequentially, Operating Cost Reductions Ahead of Target

Backlog at Company Record $11 Million

AUSTIN, Texas, Nov. 10, 2016 (GLOBE NEWSWIRE) -- Xplore Technologies Corp. (NASDAQ:XPLR), a global leader in rugged computing, today reported results for its fiscal 2017 second quarter ended September 30, 2016.

Fiscal Second Quarter and Recent Highlights:
  • Reported revenue of $20.0 million, reflecting steady seasonal trends offset by continued softer sales in Europe and timing of customer shipments;
  • Achieved gross margin of 28.2%, in line with expectations;
  • Reduced operating costs by more than $1.6 million from the prior year quarter, to $6.1 million;
  • Reported GAAP net loss of $536,000, or ($0.05) per share, and adjusted EBITDA of positive $116,000;
  • Announced the largest purchase order in company history to be fulfilled in the fiscal second and third quarter;
  • Secured a $1.1 million follow-on military order for ultra-rugged tablets from existing inventory;
  • Signed purchase agreements with multiple new customers, including Michelin and a global restaurant group;
  • Entered the vehicle emissions inspection market with a seven-figure state-level automated vehicle inspection program order; and
  • Secured an additional follow-on order with a major telecommunications customer.

"Fiscal second quarter revenue increased 21% sequentially on rising shipments while operating costs declined significantly, placing Xplore firmly on track for profitability in the second half of this year," said Philip Sassower, chairman and chief executive officer. "We also secured multiple customer wins which will drive revenue in the second half. These include a record telecommunications order for rugged Android tablets that only partially shipped during the second quarter, a follow-on military order from existing inventory, a follow-on order with another telecommunications customer and our first sale in vehicle emissions testing, a large new addressable market for Xplore. Additionally, we signed purchase agreements with several new customers who will be submitting their first orders in the coming months."

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