AUSTIN, Texas--(BUSINESS WIRE)--
Xplore Technologies Corp. (NASDAQ: XPLR) reported its results for the
third quarter of its fiscal year 2014. For the three months ended
December 31, 2013, Xplore reported record revenue of $13,981,000,
compared to $5,927,000 for the three months ended December 31, 2012, an
increase of $8,054,000, or approximately 136 percent. Sales of Xplore’s
new RangerX rugged Android tablet accounted for approximately 50 percent
of the increase in revenue over the prior year. For the nine months
ended December 31, 2013, Xplore reported revenue of $27,240,000,
compared to $23,350,000 for the nine months ended December 31, 2012, an
increase of $3,890,000, or approximately 17 percent.
“We experienced a record quarter in sales and are meeting our objective
to generate year-over-year revenue growth,” said Philip S. Sassower,
chairman and chief executive officer for Xplore. “In addition to having
achieved the best revenue quarter in company history, we generated net
income despite an increase in operating expenses associated with new
product development and expansion of our sales and marketing efforts. As
shown by the completion of multiple major deals, our products have
received strong market acceptance and we will continue with our strategy
of growing our addressable market through the introduction of new,
cutting edge products.”
“Our record-breaking quarter emphasizes that our strategic plan to bring
new products to market, including lighter weight devices at a lower
price point, is working and is beginning to deliver the growth we are
seeking,” said Mark Holleran, president and chief operating officer for
Xplore. “The first major shipment of our new rugged Android tablet, the
RangerX, along with major sales of our ultra-rugged tablet, indicate
broadening market acceptance of our products. We are encouraged by our
improving performance and look forward to further progress as we
continue the implementation of our growth strategy.”
Gross profit increased to $4,845,000 (approximately 35 percent of
revenue) for the quarter ended December 31, 2013, from $2,063,000
(approximately 35 percent of revenue) for the quarter ended December 31,
2012. This increase of approximately 135 percent was due to the increase
in revenue and unit sales. Gross profit increased to $9,747,000
(approximately 36 percent of revenue) for the nine months ended December
31, 2013, from $7,674,000 (approximately 33 percent of revenue) for the
nine months ended December 31, 2012. The increase in gross margin was
due primarily to the increase in unit sales and the increase in gross
profit margin percentage was due to a more favorable product mix.
Operating expenses for the quarters ended December 31, 2013 and 2012
were approximately $3,952,000 and $2,682,000, respectively, representing
an increase of $1,270,000, or approximately 47 percent. Operating
expenses for the nine months ended December 31, 2013 and 2012, were
approximately $10,777,000 and $7,104,000, respectively, representing an
increase of $3,673,000, or approximately 52 percent. The increases in
operating expenses were primarily attributable to investments associated
with the development of new products, in addition to increases in sales
and marketing headcount and the costs of other activities designed to
improve market awareness and demand generation.
Xplore generated net income for the quarter ended December 31, 2013 of
$890,000, compared to a net loss of $626,000 for the prior year period.
The favorable improvement was primarily due to the increase in revenue.
Xplore incurred a net loss for the nine months ended December 31, 2013
of $360,000, compared to net income of $470,000 for the prior year
period. The fluctuation was primarily attributable to the planned
increases in operating expenses associated with Xplore’s strategy to
broaden addressable markets and awareness.
The company will conduct a conference call and webcast to review the
results today at 9:15 a.m. ET. Interested parties in the United States
can access the call by dialing 877-269-7756, parties outside the United
States can access the call by dialing 201-689-7817, or anyone can listen
via a live Internet webcast at http://www.investorcalendar.com/IC/CEPage.asp?ID=172105.
A replay of the conference call will be available until March 13, 2014,
by calling 877-660-6853 from the United States or 201-612-7415 from
outside the United States and entering conference ID number 13574450.
About Xplore Technologies
Xplore Technologies Corp. has been a leading global provider of truly
rugged tablets since 1998. Xplore tablets are among the most powerful
and longest lasting in their class, withstand nearly any hazardous
condition or environmental extreme, and feature competitive pricing and
significant ROI. The company's products are sold on a global basis, with
channel partners in the United States, Canada, Europe and Asia Pacific.
Xplore Technologies’ tablets are deployed across a variety of industries
and sectors, such as energy, military operations, manufacturing,
distribution, public services, public safety, government, and other
areas with hazardous work conditions. For more information, visit the
Xplore Technologies website at www.xploretech.com.
This news release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ materially
from the statements made. When used in this document, the words “may”,
“would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”,
“estimate”, “expect” and similar expressions are intended to identify
forward-looking statements. Such statements reflect Xplore’s current
views with respect to future events and are subject to risks and
uncertainties. Many factors could cause actual results to differ
materially from the statements made, including those factors listed from
time to time in filings made by Xplore with securities regulatory
authorities under the heading “Risk Factors”. Should one or more of
these risks or uncertainties materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual
results may vary materially from those described herein as intended,
planned, anticipated or expected. Xplore does not intend and does not
assume any obligation to update these forward-looking statements.
Erika Gonzalez, 512-527-7039
Chris Schreiber, 917-445-6207
Source: Xplore Technologies Corp.