SAN ANTONIO, Texas, Nov. 27, 2013 /CNW/ - XPEL Technologies Corp. (TSXV: DAP.U) today announced results for the three months ended September 30, 2013 as compared to the three months ended September 30, 2012.
Ryan Pape, XPEL's President and Chief Executive Officer, said, "We are pleased to continue with good sales growth in the third quarter after exceptional second quarter growth, while also increasing net income sequentially despite the acceleration of our marketing and brand awareness programs."
For the Quarter Ended September 30, 2013:
Revenues. Revenues increased 52% to $4,877,589 from $3,207,876 in Q3 2012.
Direct Costs. Direct Costs of sales remained unchanged as a percentage of revenue at 67%.
Expenses. General and administrative expenses increased 42% to $1,016,634 in Q3 2013 from $717,868 in Q3 2012.
Net earnings. The Company had net income before taxes of $596,895 in Q3 2013 as compared to net income before taxes of $340,425 in Q3 2012. The Company had net income of $392,895 in Q3 2013 as compared to net income of $340,425 in Q3 2012.
Complete financials are available at http://www.xpel.com/relations/.
About XPEL Technologies Corp:
XPEL is the leading supplier of automotive paint and headlamp protection films with over 70,000 vehicle-specific applications and a worldwide network of trained installers. Additional information can be found on the Company's website at www.xpel.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Chief Executive Officer
XPEL Technologies Corp.
SOURCE: XPEL Technologies Corp.
For further information: