Xplore Technologies reported results for its fiscal year ended March 31, 2015, including record revenue of $42,639,000, compared to revenue of $35,585,000 for the prior year, an increase of $7,054,000, or approximately 20%.
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The increase in revenue was due to an approximate 37% increase in unit sales for the year ended March 31, 2015, as compared to the year ended March 31, 2014.
The increase in unit sales was partially offset by a decrease in Xplore’s average sales price of approximately 17% due to changes in the product mix sold, primarily arising from sales of its RangerX Pro and Bobcat systems, which have a lower price point than its iX104 systems.
Gross profit increased by $1,598,000 to $14,319,000 (approximately 33.6 percent of revenue) for the fiscal year ended March 31, 2015, from $12,721,000 (approximately 35.7 percent of revenue) for the fiscal year ended March 31, 2014.
The increase in gross profit for the year ended March 31, 2015, as compared to the prior year, was attributable to the increase in revenue. The decrease in the gross profit percentage was due to changes in sales product mix, as well as, increases in freight, indirect labor and tooling amortization.
Xplore’s operating expenses for the fiscal years ended March 31, 2015 and 2014 were approximately $13,992,000 and $15,140,000, respectively, a decrease of approximately 8 percent.
The decrease was primarily due to a decline in product research and development expenses associated with a reduction in major product activities with the recent releases of new products, partially offset by an increase in sales and marketing expenses associated with efforts to generate more awareness of Xplore’s products through expanded initiatives.
Xplore had net income for the fiscal year ended March 31, 2015 of $249,000, compared to net loss of $1,758,000 for the prior year period. The fluctuation was primarily attributable to the increase in revenue coupled with the reduction in operating expenses. ■