Nine Months Revenue Up 40 Percent Year-Over-Year
Xplore Technologies Corp. (NASDAQ: XPLR) (www.xploretech.com)
today reported its results for the third quarter of its fiscal year
2013. For the three months ended December 31, 2012, Xplore reported
revenue of $5,927,000 compared to $8,918,000 for the three months ended
December 31, 2011, a decrease of $2,991,000 or approximately 34 percent.
For the nine months ended December 31, 2012, revenue was $23,350,000
compared to the nine months ended December 31, 2011 revenue of
$16,696,000, an increase of $6,654,000, or approximately 40 percent.
The company received its first significant orders from the medical
device and U.S. military markets during the third quarter. As reported
in December, the U.S. military ordered more than 900 of the company's
iX104C5M rugged Windows tablets.
“We continue to see a significant increase in sales opportunities across
markets, including military, government, manufacturing and energy,” said
Mark Holleran, President and Chief Operating Officer of Xplore. “While
we may experience some variability in our quarterly operating results
due to the timing of the deployment of large projects, we expect our
year-over-year business to grow, as reflected by our fiscal year-to-date
revenue numbers.”
“We successfully completed our public offering of common stock for gross
proceeds of $10 million, as well as the recapitalization of our
preferred stock, which strengthened our balance sheet,” said Philip S.
Sassower, Chairman and Chief Executive Officer of Xplore. “We have
implemented a plan to broaden our addressable rugged tablet market with
the development of several new product offerings, in addition to
increasing awareness by expanding our marketing activities and sales
reach, as evidenced by our recently announced relationship with Waggener
Edstrom Worldwide.”
The company’s operating expenses were $2,682,000 and $7,104,000 for the
three and nine months, respectively, ended December 31, 2012 compared to
$2,377,000 and $6,588,000 for the three and nine months, respectively,
ended December 31, 2011. The increases were primarily attributable to
planned investments in sales and marketing and the development of
several new products.
Xplore reported a net loss for the three months ended December 31, 2012
of $626,000 compared to a net income of $284,000 for the three months
ended December 31, 2011, and net income for the nine months ended
December 31, 2012 of $470,000 compared to a net loss of $1,848,000 for
the nine months ended December 31, 2011.
About Xplore Technologies®
Xplore Technologies Corp. has been a leading global provider of truly
rugged tablets since 1998. With nearly 90,000 deployments, 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.
Forward-Looking Statements
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 such risks and
uncertainties. Many factors could cause actual results to differ
materially from the statements made, including those factors detailed
from time to time in filings made by Xplore with securities regulatory
authorities. 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.