Xplore Technologies Reports 12% Revenue Growth, $0.03 EPS in Fiscal 2018



XPLORE TECHNOLOGIES CORP.
Consolidated Statements of Profit and Loss—Unaudited
(in thousands of dollars, except share and per share amounts)

   Years Ended March 31,  
   2018   2017 
Revenue  $86,939  $77,928 
Cost of revenue   61,047   55,956 
Gross profit   25,892   21,972 
         
Expenses:        
Sales, marketing and support   14,439   12,370 
Product research, development and engineering   3,354   4,462 
General administration   7,437   7,193 
   25,230   24,025 
Income (loss)  from operations   662   (2,053
         
Other income (expense):        
Interest expense   (426)  (173)
Other income (expense)   71   (197)
   (355)  (370)
Income (loss) before income taxes   307   (2,423)
Income tax (expense) benefit   (7)  (129
Net income (loss)  $300  $(2,552)
         
Income (loss) per common share, primary  $0.03  $(0.23)
Income (loss) per common share, fully diluted  $0.03  $(0.23)
Weighted average number of common shares outstanding, primary   11,019,715   10,938,057 
Weighted average number of common shares outstanding, fully diluted   11,039,715   10,938,057 



XPLORE TECHNOLOGIES CORP.
Consolidated Statements of Cash Flows—Unaudited
(in thousands)

   Years Ended March 31, 
   2018   2017 
CASH FLOWS FROM OPERATING ACTIVITIES:            
Cash provided by (used in) operations:            
Net income (loss)   $ 300     $ (2,552 )
Items not affecting cash:                
Depreciation and amortization     1,765       1,571  
Provision for doubtful accounts     233       (91
Stock‑based compensation expense     588       511  
Loss on disposal of asset           28  
Reversal of inventory reserve     299       -  
Changes in operating assets and liabilities:                
Accounts receivable     (8,694     3,916  
Inventory     (13,057     2,000  
Prepaid expenses and other current assets     (671     331  
Accounts payable and accrued liabilities, including deferred revenue     2,774       (5,598 )
Net cash provided by (used in) operating activities     (16,463     116  
CASH FLOWS FROM INVESTING ACTIVITIES:                
Net cash received (paid) in purchase transaction           (287
Additions to fixed assets      (1,215 )     (2,098 )
Net cash used in investing activities      (1,215 )     (2,385 )
CASH FLOWS FROM FINANCING ACTIVITIES:                
Proceeds from short-term borrowings     83,927       50,476  
Repayment of short-term indebtedness     (69,768 )     (50,476 )
Net proceeds on issuance of Common Stock     105       135  
Net cash provided by financing activities     14,264       135  
CHANGE IN CASH AND CASH EQUIVALENTS     (3,414 )     (2,134 )
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD     3,460       5,594  
CASH AND CASH EQUIVALENTS, END OF PERIOD   $ 46     $ 3,460  
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:                
Payments for interest   $ 426     $ 173  
Payments for income taxes, net of refunds   $     $ 129  

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