SAN ANTONIO, April 15, 2013 /CNW/ - XPEL Technologies Corp. (TSXV: DAP.U) today announced results for the year ended December 31, 2012.
For the Fiscal Year Ended December 31, 2012:
Revenues. Revenues increased 77% to $10,670,838 from $6,041,853 in 2011.
Direct Costs. Direct Costs of sales increased as a percentage of revenue to 66% from 58% in 2011.
Expenses. General and administrative expenses increased 35% to $2,560,836 from $1,902,484 in 2011.
Net Income. The Company had net income before taxes of $1,077,207 as compared to net income before taxes of $608,949 in 2011. The Company had net income of $1,162,207 as compared to net income of $815,887 in 2011.
Complete financials are available at http://www.xpel.com/relations/ or on SEDAR.
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: