Conference Call
The company will conduct a conference call and webcast to review the results on Wednesday, February 7, 2018, at 4:30 p.m. ET. Interested parties in the United States can access the call by dialing 844-854-4410; interested parties outside the United States can access the call by dialing +1-412-858-4610. Callers should dial in at least 5 minutes prior to the all start time. A live and archived webcast will be available online in the investor relations section of Xplore’s website at
www.xploretech.com. A replay of the conference call will be available until February 21, 2018, by calling 877-344-7529 from the United States or +1-412-317-0088 from outside the United States and entering conference ID number 10116738.
About Xplore Technologies
Xplore is The Rugged Tablet Authority™, exclusively manufacturing powerful, long-lasting, and customer-defined rugged tablet PCs since 1996. Today, Xplore offers the broadest portfolio of genuinely rugged tablets – and the most complete lineup of rugged tablet accessories – on Earth. Its mobility solutions are purpose-built for the energy, utilities, telecommunications, military and defense, manufacturing, distribution, public safety, healthcare, government, and field service sectors. The company’s award-winning military-grade computers are also among the most powerful and longest lasting in their class, built to withstand nearly any hazardous condition or environmental extreme for years without fail. Visit
www.xploretech.com for more information on how Xplore and its global channel partners engineer complete mobility solutions to meet specialized workflow demands. Follow us on
Twitter,
Facebook,
LinkedIn, and
YouTube.
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 Information:
Matt Kreps, Darrow Associates Investor Relations
(214) 597-8200
mkreps@darrowir.com
Tom Wilkinson
Chief Executive Officer
(512) 637-1162
| XPLORE TECHNOLOGIES CORP. | ||||||||
| Consolidated Balance Sheets | ||||||||
| (in thousands) | ||||||||
|
December 31,
2017 |
March 31,
2017 | |||||||
| ASSETS | (unaudited) | |||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 18 | $ | 3,460 | ||||
| Accounts receivable, net | 23,233 | 10,452 | ||||||
| Inventory, net | 26,726 | 12,858 | ||||||
| Prepaid expenses and other current assets | 473 | 469 | ||||||
| Total current assets | 50,450 | 27,239 | ||||||
| Fixed assets, net | 1,681 | 1,862 | ||||||
| Intangible assets, net | 1,155 | 1,425 | ||||||
| Goodwill | 15,159 | 15,159 | ||||||
| Total assets | $ | 68,455 | $ | 45,685 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| LIABILITIES: | ||||||||
| Short-term indebtedness | $ | 14,318 | $ | — | ||||
| Accounts payable | 10,228 | 7,342 | ||||||
| Accrued liabilities | 6,670 | 2,266 | ||||||
| Deferred revenue and current warranty liabilities | 2,913 | 3,145 | ||||||
| Total current liabilities | 34,129 | 12,753 | ||||||
| Deferred revenue and non-current warranty liabilities | 3,661 | 3,650 | ||||||
| Total liabilities | 37,790 | 16,403 | ||||||
| Commitments and contingencies | — | — | ||||||
| STOCKHOLDERS’ EQUITY: | ||||||||
| Preferred Stock, par value $0.001 per share; authorized 5,000; no shares issued | — | — | ||||||
| Common Stock, par value $0.001 per share; authorized 15,000; shares issued and outstanding 11,021 and 10,908, respectively | 11 | 11 | ||||||
| Additional paid-in capital | 172,219 | 171,784 | ||||||
| Accumulated deficit | (141,575 | ) | (142,513 | ) | ||||
| Total stockholders’ equity | 30,655 | 29,282 | ||||||
| Total liabilities and stockholders’ equity | $ | 68,445 | $ | 45,685 | ||||
