AUSTIN, Texas, July 01, 2016 (GLOBE NEWSWIRE) — Xplore Technologies Corp. (NASDAQ:XPLR), a global leader in rugged computing has prepared the following tables for clarity of quarterly revenue results for the preceding eight quarters, and certain financial ratios to be derived therefrom.
| FY 2016 | |||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||||||
| Revenue | $ | 24,043 | $ | 28,853 | $ | 27,023 | $ | 20,611 | $ | 100,530 | |||||||
| Cost of revenue | 15,893 | 20,744 | 18,181 | 14,365 | 69,183 | ||||||||||||
| Gross profit | 8,150 | 8,109 | 8,842 | 6,246 | 31,347 | ||||||||||||
| Expenses | |||||||||||||||||
| Sales, marketing and support | 3,620 | 3,642 | 3,925 | 3,909 | 15,096 | ||||||||||||
| Product research, development & engineering | 1,830 | 1,577 | 1,129 | 1,235 | 5,771 | ||||||||||||
| General administrative | 2,331 | 2,487 | 2,521 | 2,088 | 9,427 | ||||||||||||
| Total operating expenses | 7,781 | 7,706 | 7,575 | 7,232 | 30,294 | ||||||||||||
| Profit/(loss) from operations | 369 | 403 | 1,267 | (986 | ) | 1,053 | |||||||||||
| Other expenses | |||||||||||||||||
| Interest expense | (6 | ) | (52 | ) | – | – | (58 | ) | |||||||||
| Cost of integration | (670 | ) | (122 | ) | (95 | ) | (26 | ) | (913 | ) | |||||||
| Other income/expenses | 63 | (131 | ) | (317 | ) | (65 | ) | (450 | ) | ||||||||
| (613 | ) | (305 | ) | (412 | ) | (91 | ) | (1,421 | ) | ||||||||
| Income/(loss) before taxes | (244 | ) | 98 | 855 | (1,077 | ) | (368 | ) | |||||||||
| Income taxes | – | – | (69 | ) | 75 | 6 | |||||||||||
| Net income | $ | 244 | ) | $ | 98 | $ | 786 | $ | (1,002 | ) | $ | (362 | ) | ||||
| Depreciation & amortization | 358 | 457 | 498 | 417 | 1,730 | ||||||||||||
| Interest expense | 6 | 52 | – | – | 58 | ||||||||||||
| Income taxes | – | – | 69 | (75 | ) | (6 | ) | ||||||||||
| EBITDA | 120 | 607 | 1,353 | (660 | ) | 1,420 | |||||||||||
| Non-cash compensation | 607 | 492 | 535 | 522 | 2,156 | ||||||||||||
| Cost of integration | 670 | 122 | 95 | 26 | 913 | ||||||||||||
| Adjusted EBITDA | $ | 1,397 | $ | 1,221 | $ | 1,983 | $ | (112 | ) | $ | 4,489 | ||||||
| Key Statistics | |||||||||||||||||
| Gross margin | 33.9 | % | 28.1 | % | 32.7 | % | 30.3 | % | 31.2 | % | |||||||
| Operating margin | 1.5 | % | 1.4 | % | 4.7 | % | -4.8 | % | 1.0 | % | |||||||
| Periodic revenue % | 23.9 | % | 28.7 | % | 26.9 | % | 20.5 | % | 100.0 | % | |||||||
| Quarter over Quarter | |||||||||||||||||
| Revenue Change % | 131.0 | % | 20.0 | % | -6.3 | % | -23.7 | % | |||||||||
| FY 2015 | |||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||||||
| Revenue | $ | 8,267 | $ | 7,522 | $ | 16,443 | $ | 10,407 | $ | 42,639 | |||||||
| Cost of revenue | 5,203 | 5,255 | 10,569 | 7,293 | 28,320 | ||||||||||||
| Gross profit | 3,064 | 2,267 | 5,874 | 3,114 | 14,319 | ||||||||||||
| Expenses | |||||||||||||||||
| Sales, marketing and support | 1,598 | 1,714 | 1,630 | 1,410 | 6,352 | ||||||||||||
| Product research, development & engineering | 991 | 739 | 815 | 992 | 3,537 | ||||||||||||
| General administrative | 1,007 | 977 | 980 | 1,139 | 4,103 | ||||||||||||
| Total operating expenses | 3,596 | 3,430 | 3,425 | 3,541 | 13,992 | ||||||||||||
| Profit/(loss) from operations | (532 | ) | (1,163 | ) | 2,449 | (427 | ) | 327 | |||||||||
| Other expenses | |||||||||||||||||
| Interest expense | (1 | ) | (2 | ) | – | (3 | ) | ||||||||||
| Cost of integration | – | – | – | – | – | ||||||||||||
| Other income/expenses | (19 | ) | (3 | ) | (7 | ) | (7 | ) | (36 | ) | |||||||
| (19 | ) | (4 | ) | (9 | ) | (7 | ) | (39 | ) | ||||||||
| Income/(loss) before taxes | (551 | ) | (1,167 | ) | 2,440 | (434 | ) | 288 | |||||||||
| Income taxes | – | – | (39 | ) | – | (39 | ) | ||||||||||
| Net income | $ | (551 | ) | $ | (1,167 | ) | $ | 2,401 | $ | (434 | ) | $ | 249 | ||||
| Depreciation & amortization | 172 | 264 | 253 | 230 | 919 | ||||||||||||
| Interest expense | – | 1 | 2 | – | 3 | ||||||||||||
| Income taxes | – | – | 39 | – | 39 | ||||||||||||
| EBITDA | (379 | ) | (902 | ) | 2,695 | (204 | ) | 1,210 | |||||||||
| Non-cash compensation | 159 | 166 | 152 | 207 | 684 | ||||||||||||
| Cost of integration | – | – | – | – | – | ||||||||||||
| Adjusted EBITDA | $ | (220 | ) | $ | (736 | ) | $ | 2,847 | $ | 3 | $ | 1,894 | |||||
| Key Statistics | |||||||||||||||||
| Gross margin | 37.1 | % | 30.1 | % | 35.7 | % | 29.9 | % | 33.6 | % | |||||||
| Operating margin | -6.4 | % | -15.5 | % | 14.9 | % | -4.1 | % | 0.8 | % | |||||||
| Periodic revenue % | 19.4 | % | 17.6 | % | 38.6 | % | 24.4 | % | 100.0 | % | |||||||
| Quarter over Quarter | |||||||||||||||||
| Revenue Change % | -0.9 | % | -9.0 | % | 118.6 | % | -36.7 | % | |||||||||
In the above tables, figures have been drawn from the financial statements filed with the Securities and Exchange Commission.
The Non-GAAP measures above include EBITDA and Adjusted EBITDA as a comparison to GAAP Net Income. EBITDA is calculated as shown by adding back to Net Income expenses in the period related to depreciation and amortization, interest and income taxes. Adjusted EBITDA is further calculated by adding back to EBITDA the periodic expenses related to non-cash compensation and the cost of integration.
About Xplore Technologies
Established in 1996, Xplore Technologies Corp. is the number two provider of rugged tablet computers worldwide. With its recent acquisition of the Motion product line, the company now has the broadest range of purpose-built tablets for a variety of industries including energy, utilities, telecommunications, military operations, manufacturing, distribution, public services, public safety, healthcare, government and other areas with hazardous work conditions. The company’s tablets are among the most powerful and longest lasting in their class – able to withstand nearly any hazardous condition or environmental extreme. Xplore’s products are sold and serviced on a global basis across the Americas, Europe, Middle East, Africa, and Asia Pacific regions. 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.
CONTACT: Contact Information: Tom Wilkinson, Chief Financial Officer Phone: (512) 637-1162 Email: [email protected] Darrow Associates Investor Relations Phone: (512) 696-6401 Email: [email protected]