XPLT ($3.60) announced Q2 2015 results:
Sales of $11.3 million vs $8.3 million in the prior year period
EPS of $0.02 vs $0.02 in the prior year
Quotes from management:
“We have seen continued momentum in the second quarter with solid growth and the completion of the integration of Parasol Canada, which we acquired in the first quarter.
In addition to good growth in the U.S., our direct presence in Canada and Europe generated strong revenue growth in both regions, despite pressure from the U.S. Dollar. Elsewhere, the impact of foreign currency on our distributors and the reorganization of our distribution in China reduced growth in the quarter. Across our international subsidiaries, net income would have increased over $300,000 if the relevant exchange rates were at their prior year rates.
The continued expansion of our U.S. sales and marketing programs combined with the distribution changes in Canada and China position us well to continue our differentiated, premium offering as the business grows and we introduce additional products and services.”
First Quarter 2015 Results
“Our international expansion strategy is proceeding well and, as previously announced, during the first quarter we acquired Parasol Canada, a distributor of paint protection and window tint products for the Canadian market. In addition to expanding our portfolio of products, Parasol brings a dedicated Canadian sales force which we are leveraging to bring our successful U.S. marketing initiatives to this important market. Additionally, our U.K. facility, established to address market demand in Europe and additional regions, is performing well, fulfilling customer needs and offering regularly scheduled training courses. Our sales efforts in the region are gaining traction, resulting in a solid pipeline of new customers throughout Europe.”
$XPLT ($3.40) - GeoBargain XPLT reported Q4 2014 results:
Revenues for Q4 2014 were $7.6 million vs $5.0 million in the prior year period.
Non-GAAP EPS for Q4 2014 was $0.01 vs $0.01 in the prior year
Mr. Ryan Pape, President and Chief Executive Officer of XPEL, commented, “2014 was a strong year for our Company, marked by significant revenue growth, international expansion, and the continued strategic development of our distribution channels. We are seeing growing market demand for and recognition of the XPEL brand, both domestically and internationally and are executing on our strategy to ensure that our products and services are available to meet the demands of existing and potential customers worldwide.”
Mr. Pape continued, “International expansion and moving closer to our international customers has been a key focus of ours in the back half of 2014 and into 2015. Our new XPEL U.K. facility established a strategic beachhead to service Europe and regions beyond. The facility provides readily available inventory to efficiently fulfill customer orders and in February we began offering regular onsite training courses. We are ramping our sales efforts targeting potential European customers and building a pipeline through both existing and new relationships. Subsequent to the close of the fourth quarter, we announced our acquisition of Parasol Canada, a distributor of paint protection and window tint products for the Canadian market. This acquisition adds to our portfolio of products, provides a dedicated Canadian sales force and allows us to bring our proven U.S. marketing initiatives to this key international market.”
SAN ANTONIO--(BUSINESS WIRE)--XPEL Technologies Corp. (TSXV:DAP.U), a global supplier of automotive paint and headlamp protection films, today announced that it has acquired Parasol Canada, a distributor of paint protection and window tint products for the Canadian market.
Parasol, founded in 2009, is headquartered in Terrebonne, a suburb of Montreal, with a distribution office in Calgary. Parasol has hundreds of independent installers and automobile dealerships as customers who are serviced by sales representatives in key markets throughout Canada. In addition to supplying customers with paint protection film, automotive window tint and installation tools, Parasol also provides extensive installation training.
Mr. Ryan Pape, President and Chief Executive Officer of XPEL, said, �This acquisition is in line with our strategy to get closer to our end customers, particularly in key international markets. Parasol Canada is a profitable business with a successful management team who will remain with the company. The acquisition allows us to gain a dedicated Canadian sales force, add to our portfolio of products, gain margin and expand our proven U.S. marketing initiatives into Canada, where we believe there is significant opportunity for growth as we integrate under the XPEL brand. Furthermore, Parasol Canada brings with it a five-year agreement and five-year renewal option to exclusively supply paint protection film and window tint to the 79 locations that comprise the Protex Paint Protection and Pelti Window Film franchise groups.�
A majority of Parasol Canada�s revenue is derived from the sale of XPEL products.
The acquisition price of CAD$4.8 million was funded by US$1.9M in new borrowing from the Company�s primary lender, The Bank of San Antonio and a five-year, interest-free seller�s note. XPEL acquired inventory and receivables of approximately CAD$1.5 million as part of the purchase price.
The acquisition of Parasol Canada was completed by the transfer of all of Parasol Canada�s assets to a new subsidiary and the acquisition of all of the shares of the new subsidiary by XPEL Canada Corp., XPEL�s wholly owned Canadian subsidiary.
Mr. Pape continued, �We are focused on expanding our geographical reach and increasing our customer base to drive revenue growth. Canada is our largest international market, and this acquisition enhances our presence there as we look to continue to grow market share.
Third Quarter 2014 Results
Mr. Pape continued, “Just prior to the close of the third quarter, we completed our acquisition to establish our new XPEL U.K. facility, providing a foothold to move XPEL closer to customers and partners in the region. The facility includes a training and support center and provides readily available inventory to potential and existing European customers. The acquisition is going well and the new facility was operating profitably after the first month. As expected, during the third quarter we had modest one-time acquisition related expenses and also incurred other one-time expenses that impacted net profitability for the quarter.”
“Our balance sheet remains strong, providing us with the financial flexibility to strengthen our employee base and drive our sales and marketing strategy. Inventory is up substantially over the second quarter. This is partially due to our need for more inventory to meet future demand, but also due to a transition in how we manage our production that requires a near term increase but, over time, will help constrain the growth of inventory to sales.”
Mr. Pape concluded, “Our ability to consistently expand our base of independent installers and dealerships resulted in significant revenue growth in the quarter. International sales account for 37% of our overall revenues as compared to 33% in the same period last year and we are excited about the added international traction that is being generated with our new U.K. facility. We believe XPEL’s growing brand recognition in the marketplace and our focus on training and support of our partners, position us well for long-term growth.”
Second Quarter 2013 Results
First Quarter 2013 Results
Revenues increased 58% to $3,156,582 from $1,993,597 in Q1 2012.
Net earnings. The Company had net income before taxes of $400,323 in Q1 2013 as compared to net income before taxes of $242,831 in Q1 2012. The Company had net income of $262,323 in Q1 2013 as compared to net income of $242,831 in Q1 2012.
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