XPEL Reports Third Quarter Results



    - Quarterly Revenues up 139% -

    - Generated Positive Net Income for the Quarter -

    - Achieved Second Consecutive Quarter of Positive Cash Flow -

    SAN ANTONIO, November 20 /CNW/ - XPEL Technologies Corp. (TSX
VENTURE:DAP.U) today announced results for the three and nine months ended
September 30, 2007, as compared to the three and nine months ended September
30, 2006.

    XPEL's Chief Executive Officer, Steven J. McAuley, stated, "The third
quarter of 2007 was truly monumental for XPEL. We followed up on the
breakthrough of the second quarter with third quarter positive cash flows and
our first quarter of net earnings, which puts us on pace to achieving full
year profitability in 2007. Our balance sheet continued to show improvement
with working capital of approximately US$1.5 million and we are seeing better
than expected same store results from our facilities in both the United States
and Canada."

    Mr. McAuley further added, "We believe our results will continue to
improve as we integrate our recent acquisition of Paintshield, Limited, and
address the exceptional demand for our new XPEL Protection Film, domestically
and in international markets."

    Three and Nine Months Ended September 30, 2007 compared to the Three and
Nine Months ended September 30, 2006

    Revenues. Revenues, inclusive of a full quarter of Canadian operations,
increased from US$826,497 to US$1,972,063, or 139% between quarters and from
US$2,548,266 to US$3,887,986, or 53% between the nine month periods.

    Cost of Sales. Cost of sales increased from US$276,113 to US$753,455 and
as a percentage of revenues from 33% to 38%, between quarters. For the nine
months ended September 30, 2007, cost of sales increased from US$958,042 to
US$1,339,444 but decreased as a percentage of revenues from 38% to 34%.

    Expenses. Total expenses decreased $11,278 from US$845,425 to US$834,147,
or approximately 1% between quarters and increased approximately 9% from
US$2,478,494 to US$2,711,300 between years. The change in total expenses was a
result of increased general and administrative expenses and increased
amortization expense offset by a decline in research and development expenses.

    General and administrative expenses increased from US$687,497 to
US$701,290, or 2% between quarters and from US$1,962,068 to US$2,336,545, or
19% between the nine month periods.

    Research and development expenses decreased from US$54,649 to $0 during
the quarters and from US$165,093 to $0 during the nine months ended, as the
Company determined that the costs related to its design function should be
expensed over a twenty-four-month period. In previous periods, the Company
expensed its design costs as incurred.

    Net earnings (loss). The Company had net earnings of US$384,461 for the
quarter ended September 30, 2007 as compared to a net loss of US$295,041 for
the quarter ended September 30, 2006. When adjusted for non-cash expenses the
Company recorded net income of US$386,177 for the quarter ended September 30,
2007 as compared to an adjusted net loss of US$174,165 for the quarter ended
September 30, 2006. This represents the second quarter of cash flow
profitability since the Company went public in late 2004. The Company had a
net loss of US$162,758 for the nine months ended September 30, 2007 as
compared to a net loss of US$888,270 for the nine months ended September 30,
2006. When adjusted for non-cash expenses we recorded net income of US$312,055
for the nine months ended September 30, 2007 as compared to an adjusted net
loss of US$558,389 for the nine months ended September 30, 2006.

    This press release should be read in conjunction with the Interim
Financials, Notes and Management Discussion and Analysis filed on
www.sedar.com.

    About XPEL Technologies Corp.

    With distribution channels in North America, Europe, Asia, the Middle
East and Australia, XPEL Technologies Corp. is the worldwide leading supplier
of automotive survival products. XPEL sells paint protection film, headlamp
protection products and installation tools and is the developer of the Design
Access Program software. XPEL sells its products directly to consumers and
installer partners, providing them everything they need to develop a thriving
paint protection business. In addition to its expansive line of products, the
Company offers installation training and marketing support making it the
premier source for dealers and installers of paint protection products. XPEL
is publicly traded on the TSX Venture Exchange. Additional information can be
found on the Company's website at www.xpel.com.

    Certain statements contained herein such as "We followed up on the
breakthrough of the second quarter with third quarter positive cash flows and
our first quarter of net earnings, which puts us on pace to achieving full
year profitability in 2007," and "We believe our results will continue to
improve as we integrate our recent acquisition of Paintshield, Limited, and
address the exceptional demand for our new XPEL Protection Film, domestically
and in international markets" are considered "forward-looking statements."
These types of statements are based upon the belief of the Company's
management, as well as assumptions made beyond information currently available
to the Company's management. Because "forward-looking statements" are subject
to risks and uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Factors that could
cause results to differ materially from those expressed or implied by such
forward-looking statements include, but are not limited to, price competition,
the inability to obtain additional capital, loss of key personnel,
unavailability of leased facilities, technological changes, service
interruptions, equipment failures, customer attrition, general economic
conditions, relationships with vendors, government supervision and regulation,
changes in industry practices, and other factors.

    The TSXV has not reviewed and does not accept responsibility for the
adequacy and accuracy of this information.




For further information:

For further information: XPEL Technologies Corp., San Antonio Steven J.
McAuley, CEO, 210-678-3700 smcauley@xpel.com or Blue Flame 6 Shellie Pierce,
866-860-2687 spierce@blueflame6.com

Organization Profile

XPEL Technologies Corp.

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