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November 14, 2010

Xplore Q2 revenue down 17% to $4.3bn

Posted net loss of $2.2bn in Q2

By CBR Staff Writer

Xplore Technologies, a manufacturer of rugged tablet PCs, has reported revenue of $4.3bn for the second quarter of fiscal year 2011, a decrease of 17% compared to $5.2bn for the same period last year.

The company said that the decrease in revenue of approximately 18% for the second quarter of 2010 was attributable to a decrease in average sales price of approximately 15% along with a decline in unit sales of approximately 4%.

For the second quarter of 2010, the company posted total gross profit of $1.5bn, an increase of 15% compared to $1.3bn in the same quarter previous year.

Net loss for the second quarter 2010 was $2.2bn, an increase of 22% compared to a net loss of $1.8bn for the same period a year ago.

Xplore Technologies president and chief operating officer Mark Holleran said the difficult economy has contributed to their decline in revenue as well, as many of their customers are awaiting the significantly improved next generation of their iX104 Tablet PC family of products that will launch later this fiscal year.

"We believe the market’s increased awareness and acceptance of the tablet form factor, improving economic conditions and Xplore’s foray into new geographies and vertical markets, position the company for a ramp-up in revenues." Holleran said.

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"We continue to lower our cash burn and improve our year over year operating performance with significant gross profit improvement of approximately 15% and 21% for the three and six months ended September 30, 2010, respectively, and continued reduction of operating expenses of approximately 14% and 19% for the three and six months ended September 30, 2010, respectively."

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