Xplore Technologies, a manufacturer of rugged tablet PCs, has reported revenue of $5.1bn for the three months ended June 30, 2010, an increase of 2% compared to $5bn for the same period last year.
The company posted operating profit of $42m for the three months ended June 30, 2010, and positive cash from operations for two consecutive quarters.
For the first quarter June 30, 2010, the company posted total gross profit of $1.6bn, an increase of 23% compared to $1.3bn same period a year ago.
Net loss for the first quarter 2010 was $667m, a decrease of $654m compared to a net loss of $1.3bn for the same period a year ago.
Xplore Technologies president and chief operating officer Mark Holleran said that for the first time in the Company’s history, the company has achieved an operating profit, and its operating activities also provided cash of $1.2bn principally on the strength of reduced operating expenses and the favorable timing of receivable collections.
"Despite the difficult economy, Xplore has been able to maintain a stable level of revenues and has significantly reduced its cash burn and operating expenses by 69% and 46%, respectively, when comparing fiscal 2010 results to fiscal 2009 results," Holleran said.
"Our cost control efforts continued in the quarter ended June 30, 2010, in which we recorded a reduction of approximately 26% in operating expenses compared to the same quarter one year ago."
