Xplore Releases Quarterly Financial Results (7/25/12)
Xplore Technologies reported its first quarter fiscal 2013 results. For the three months ended June 30, Xplore reported revenue of $9.95 million compared with $2.678 million for the three months ended June 30, 2011, an increase of 272 percent. The increase in revenue was because of an increase in unit sales of about 256 percent for the quarter compared with the three months ended June 30, 2011, along with an increase in its average sales price of about 16 percent.
The increase in unit sales was principally attributable to the fulfillment of a portion of the previously announced purchase orders received in the second half of the fiscal year 2012, approximating $20.3 million. The increase in average selling prices was principally because of a more favorable product mix.
Xplore reported net income for the three months ended June 30, of $819,000, compared with a net loss of $1.463 million for the three months ended June 30, 2011.
“The company’s results mark our third consecutive quarter of profitability,” said Philip S. Sassower, chairman and CEO. “This quarter and our fourth quarter of fiscal 2012, when we achieved $10.832 million in revenue that represented the single largest dollar amount of revenue in our 16-year history, come at a time when we believe there is a strong increase in awareness and demand for tablet computers.”
At June 30, Xplore had $2.893 million in cash and cash equivalents and $7.2 million of working capital.
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