Xplore Technologies (NASDAQ:XPLR) has beaten its revenue and earnings estimates for the fourth quarter by a wide margin of $1.77 million and $0.01 per share.
Its fourth-quarter revenue has also increased substantially from the same period last year, thanks to increased international sales, a strong growth across Xplore’s customer base, and rising adoption of rugged solutions in the mobile workplace. Xplore Technologies shares jumped almost 47% in a single session after the announcement of fourth-quarter results. Its stock is currently trading around $6 – with the market capitalization of $44 million.
Xplore Technologies: Fourth Quarter Results
Its fourth-quarter revenue increased 20% to $20.3 million compared to the revenue of $16 million last year. The revenue growth is driven by escalating demand for rugged tablets and fulfillment of large multi-quarter customer contracts. The company’s strategy of concentrating on long-term customer orders along with the diversification of its customer base has also contributed to revenue growth.
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Chief Executive Officer Tom Wilkinson stated: “A strong finish to fiscal 2018, positive GAAP net income for the year and significant progress on our transformation into a diversified, profitable rugged mobility company is setting strong footholds for serving an addressable market of $4 billion.”
Xplore Technologies full-year sales increased 12% from last year while the company reported positive earnings for the first time in the last three years. Its fiscal 2018 earnings stood around $0.03 per share compared to a significant loss of $0.23 per share the year before.
Xplore Technologies Acquired by Zebra Technologies
Along with the earnings announcement, Xplore Technologies also announced a definitive agreement to be acquired by Zebra Technologies Corporation (NASDAQ:ZBRA) for $6 per share. Zebra Technologies is considered a leader in the rugged mobile computers market, with a focus on barcode printers and barcode scanners. The transaction is likely to be completed in the following three quarters. Zebra Technologies management believes the acquisition will strengthen its market share in the rugged mobile computers market.
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