Xplore Technologies Reports Fiscal Second Quarter 2017 Results

XPLORE TECHNOLOGIES CORP.
Supplemental Three Months Consolidated Statements of Cash Flows—Unaudited
(in thousands)

	Three Months Ended September 30,
	2016			2015

Net loss	$	(536	)	$	98
Items not affecting cash:
Depreciation and amortization	456			457
Provision for doubtful accounts	(67		)	108
Stock based compensation expense	127			492
Other adjustments to cash used in operations	(3,862		)	(4,383		)
Net cash used in operating activities	(3,882		)	(3,228		)
Net cash used in investing activities	(245		)	(176		)
Net cash provided by(used in) financing activities	3,164			(3,726		)

Change in cash and cash equivalents	$	(963	)	$	(7,130	)

Xplore Technologies Quarterly Historical Information

		FY 2017
		1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD

Revenue		$	16,473		$	20,007		$	-		$	-		$	36,480
Cost of revenue			11,609			14,31			-			-			25,980
	Gross profit		4,864			5,636			-			-			10,500

Expenses
	Sales, marketing and support		3,435			2,896			-			-			6,331
	Product research, development & engineering		953			1,317			-			-			2,270
	General administrative		2,039			1,868			-			-			3,907
Total expenses			6,427			6,081			-			-			12,508

	Profit/(loss) from operations		(1,563	)		(445	)		-			-			(2,008	)

Other expenses
	Interest expense		(8	)		(69	)		-			-			(77	)
	Cost of integration		-			-			-			-			-
	Other income/expenses		(96	)		(22	)		-			-			(118	)
			(104	)		(91	)		-			-			(195	)

	Income/(loss) before taxes		(1,667	)		(536	)		-			-			(2,203	)
	Income taxes		(80	)		-			-			-			(80	)
Net income		$	(1,747	)	$	(536	)	$	-		$	-		$	(2,283	)

	Depreciation & amortization		348			456			-			-			804
	Interest expense		8			69			-			-			77
	Income taxes		80			-			-			-			80
	EBITDA		(1,311	)		(11	)		-			-			(1,322	)
												-
	Non-cash compensation		175			127			-			-			302
	Cost of integration		-			-			-			-			-
	Adjusted EBITDA	$	(1,136	)	$	116		$	-		$	-		$	(1,020	)


		FY 2016
		1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD

Revenue		$	24,043		$	28,853		$	27,023		$	20,611		$	100,530
Cost of revenue			15,893			20,744			18,181			14,365			69,183
	Gross profit		8,150			8,109			8,842			6,246			31,347

Expenses
	Sales, marketing and support		3,620			3,642			3,925			3,909			15,096
	Product research, development & engineering		1,830			1,577			1,129			1,235			5,771
	General administrative		2,331			2,487			2,521			2,088			9,427
Total operating expenses			7,781			7,706			7,575			7,232			30,294

	Profit/(loss) from operations		369			403			1,267			(986	)		1,053

Other expenses
	Interest expense		(6	)		(52	)		-			-			(58	)
	Cost of integration		(670	)		(122	)		(95	)		(26	)		(913	)
	Other income/expenses		63			(131	)		(317	)		(65	)		(450	)
			(613	)		(305	)		(412	)		(91	)		(1,421	)
	Income/(loss) before taxes		(244	)		98			855			(1,077	)		(368	)
	Income taxes		-			-			(69	)		75			6
Net income		$	(244	)	$	98		$	786		$	(1,002	)	$	(362	)

	Depreciation & amortization		358			457			498			417			1,730
	Interest expense		6			52			-			-			58
	Income taxes		-			-			69			(75	)		(6	)
	EBITDA		120			607			1,353			(660	)		1,420

	Non-cash compensation		607			492			535			522			2,156
	Cost of integration		670			122			95			26			913
	Adjusted EBITDA	$	1,397		$	1,221		$	1,983		$	(112	)	$	4,489


		FY 2015
		1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD

Revenue		$	8,267		$	7,522		$	16,443		$	10,407		$	42,639
Cost of revenue			5,203			5,255			10,569			7,293			28,320
	Gross profit		3,064			2,267			5,874			3,114			14,319

Expenses
	Sales, marketing and support		1,598			1,714			1,630			1,410			6,352
	Product research, development & engineering		991			739			815			992			3,537
	General administrative		1,007			977			980			1,139			4,103
Total operating expenses			3,596			3,430			3,425			3,541			13,992

	Profit/(loss) from operations		(532	)		(1,163	)		2,449			(427	)		327

Other expenses
	Interest expense					(1	)		(2	)		-			(3	)
	Cost of integration		-			-			-			-			-
	Other income/expenses		(19	)		(3	)		(7	)		(7	)		(36	)
			(19	)		(4	)		(9	)		(7	)		(39	)

	Income/(loss) before taxes		(551	)		(1,167	)		2,440			(434	)		288
	Income taxes		-			-			(39	)		-			(39	)
Net income		$	(551	)	$	(1,167	)	$	2,401		$	(434	)	$	249

	Depreciation & amortization		172			264			253			230			919
	Interest expense		-			1			2			-			3
	Income taxes		-			-			39			-			39
	EBITDA		(379	)		(902	)		2,695			(204	)		1,210

	Non-cash compensation		159			166			152			207			684
	Cost of integration		-			-			-			-			-
	Adjusted EBITDA	$	(220	)	$	(736	)	$	2,847		$	3		$	1,894

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